Consumer complaint received 2018-03-13
Company: NATIONSTAR MORTGAGE LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
My lender Nationstar is refusing to work with me and is trying to tell me that I have no options for resolution. They are saying there is nothing that can be done, because they had lowered my interest rate in the past. I do not believe this is true, I believe they could look at options such as forbearance, restructured loan or possibly recapitalizing the late payments back into the balance or even a repayment plan. I am back on my feet financially and I can afford a fair payment but it seems that Nationstar does not want to give me a chance. My problem is that they have closed out my case and told me there is nothing that can be donemy only option is full reinstatement of close to $ XXXX or they will foreclose. This is not possible. I am frustrated that I am being told there are no options when I am certain there are other methods or programs that could resolve this matter. I feel that Nationstar is obstructing the process and denying me access to government programs that I qualify for. Additionally they are not giving me the information on the figures used to calculate while underwriting my file. How did they reach the conclusion that there are no options? What criteria was this based on? Also, if Nationstar is claiming that there are no options because this is all the investor will allow then I would like to see a copy of their pooling and servicing agreement and would like the section relating to modification highlighted for my review I went through a very long and real financial hardship relating to my business that I have owned for 22 years. Due to this I had a problem making my monthly mortgage payments. My lender Nationstar was helpful in the past and worked with me to address this. However, I was not able to cure my default because the financial hardship was extended longer than anticipated. I am now back on my feet financially and in a good place and eager and anxious to work something out with Nationstar. 

As explained, I have owned my own company for the last 22 years and was making a solid living through XXXX XXXX. Our company specialized in underground construction and my biggest contract was with XXXX. A few years ago, XXXX XXXX purchased all of XXXX landlines in an XXXX deal. Once they took over they wanted to save money and stopped expanding and my business dropped nearly 70 %. I was struggling for a good three years trying to make ends meet. I was finally able to strike a new deal with XXXX 3 months ago and my new business is looking good. I am appreciative of the fact that Nationstar has made concessions in the past to try and help me get back on track with my mortgage. However, at this time I am still behind thousands of dollars and am being told there are absolutely no options. I have tried to get a review conducted to figure out a program or a way to take care of this delinquency, but Nationstars agents tell me the only way is to reinstate the loan. I am not in a position after XXXX plus years of hard times to reinstate the loan. However, I am once again making a good living. I could easily afford a fair payment through modification or a restructuring of the loan. Or at least Nationstar should be looking at some type of repayment plan. Their agents tell me if I dont come up with this lump sum that they will foreclose on my home. This makes no sense. Nationstar would make significantly more money if they were to work with me on this delinquent amount and collect interest and payments from me over the next several years than they would selling the home for less than is owed.

Company response to consumer: Closed with explanation