Product: Mortgage

My predatory negative amortization mortgage loan has been a problem since the day I was coerced into signing the loan documents. My current issue is with the current servicer, Nationstar who is moving to sell my home despite the fact that we have ample resources to afford a reasonable payment. We had engaged in a review for modification with Nationstar in the past and the file had moved into the underwriting stage when Nationstar set a foreclosure sale date. This is dual tracking and it is illegal, and due to this sale date our review was never completed. We now have a foreclosure sale date on  XX/XX/XXXX , despite the fact that Nationstar has never offered us the option of mediation as required by Nevada law.
<P/>
I bought my home in   XXXX   and was convinced that it would be in my best interests to refinance into a pick a payment loan in  XXXX . I was told this was the best way to get the lowest payment, but none of the other negative features of this type of loan were explained to me. I was not aware that if I paid the minimum payment that the balance would go upI was not aware that the interest rate could begin adjusting the month after the loan was writtenI was not aware that if the loan recast that my mortgage payment would essentially double. Not long after refinancing into this loan I injured   XXXX   XXXX   XXXX   XXXX    and was unable to run my   XXXX   XXXX   during the recovery. I owned 6 rental properties at that time and was living off the rents from these investment homes. However, when the market crashed and the real estate values tanked things began turning for the worse and I eventually ended up losing all the investment properties. It was a snowball effect and it led to the initial defaulting on the subject property mortgage.
<P/>
Due to the declining market and the loss of value in our home we decided to do a short sale. We attempted to engage with  XXXX   XXXX   XXXX   XXXX   for the short sale on 5 different occasions with 5 different submitted offers. We never made any headway and out of frustration eventually pulled the property off the market. Over the next couple of years we dug ourselves out of our hole. My   XXXX   XXXX   began thriving and my wife was working as well selling insurance. We reached out to apply for a loan modification and began the process and were told that we were in review with the underwriter. However, that same week we were notified that a foreclosure sale date had been set for the property. This is dual tracking ; it is illegal and it proves that Nationstar is acting in bad faith.
<P/>
  XXXX   XXXX   XXXX   XXXX   also called Negative Amortization loans no longer exist because of their predatory nature. Additionally, state AGs in more than one state went after   XXXX   XXXX   XXXX  / XXXX  as well as   XXXX   XXXX  / XXXX /  XXXX   XXXX   for their reckless and deceptive lending practices relating to these loans. In each of those cases the lender settledsettlement terms included loan modifications with lower payments and lower rates with fixed terms, as well as principal forgiveness in many instances. We are seeking a similar workout. Nationstar received over {$500.00} million dollars in government bailout funds, where is our workout?? We have more than enough income to afford a reasonable payment and want to settle this matter