Consumer complaint received 2017-01-31
Company: NATIONSTAR MORTGAGE LLC
State: IL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I would like to report the following and would like to open a case and file for damages against Nationstar mortgage : ( 1 ) Unethical practices of " Double Interest '' by some of the mortgage lenders taking advantage of consumer 's unavoidable situations. 
( 2 ) I would also like to report delay in settling Loan modification due to the purchase of my Loan by Nationstar from previous servicer which is beyond my control and therefore Mortgage servicer adding significant Interests and charges for this delay. 

Please note that i went through significant financial changes and hardship ( Loss of employment, Bankruptcy ) and family events ( Divorce, child custody & Support ) in the past few years. Before the above hardship started, I was prompt and up-to-date with my mortgage payment on my ONLY and PRIMARY residence and was working closely with XXXX ( Mortgage servicer since XXXX appx ). I informed Everhome mortgage about the change in my situation promptly and was working diligently towards loan modification ( temporary and permanent ) during the approved forbearance period and was close to get the loan modification approved. In the interim, Nationstar purchased my loan and significantly delayed my loan modification process even after my repeated follow ups with the reason that they were yet to receive the paperwork from XXXX. Even after i provided Loan modification documents multiple times, Nationstar 's Loan modification team took significantly long to provide me with meaningful temporary payment plan. Anyways, i promptly and successfully completed the trial payment for XXXX XXXX, XXXX XXXX, XXXX XXXX. IN THE FINAL/PERMANENT MODIFICATION package dated XXXX XXXX XXXX, Nationstar ADDED PAST DUE INTEREST TO THE CURRENT PRINCIPAL BALANCE AND APPLYING NEW INTEREST of 3.625 % on the full amount INCLUDING PAST DUE INTEREST even though i was under the agreed forbearance and loan modification process. Moreover the delay in settling ( completing modification ) was from Nationstar Mortgage company. 
This is completely unethical ( charging Interest on Interest and also increasing the principal loan amount ) especially when the delay was from nationstar mortgage. I promptly provided details as requested, rather i was following up with Nationstar to prioritize and complete the modification as soon as possible so that i can start the payments. 
Because of the above reason, i respectfully rejected earlier permanent modification and appealed nationstar to re-consider. I am provided a 2nd ( and probably Final ) Trial payment plan XXXX XXXX, XXXX XXXX, XXXX XXXX that i am promptly paying, only 1 trial payment left. I am nervous, rather scared that Nationstar will follow the same tactics in their FINAL/PERMANENT modification and will add up past interest ( 5 % APR ) into my principal balance and charge a new Interest rate on it ( 3.5 % or so ), as per the current trial payment plan. 

Please note that this is the ONLY and PRIMARY residence for me and my family including kids. Because of the Bankruptcy, i can not buy any other property either. I already invested more than $ XXXX in this property and i will lose all my investments if i lose the house. 
I would sincerely appeal CFPB to take up my case and ( 1 ) Curtail the process where Mortgage servicers are rolling up Interest into Principal balance and charging a new interest on it ( Double Interesting ). 
( 2 ) Impose penalties for delaying the process. 
( 3 ) Remove charges added because of their delays. 
( 4 ) Compensate for Mortgage servicers bullish policies and delays.

Company response to consumer: Closed with explanation