Consumer complaint received 2017-05-22
Company: NATIONSTAR MORTGAGE LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
My home I have owned for nearly 20 years is in foreclosure with a sale date set for XX/XX/XXXX. This is an avoidable foreclosure, but the holder of my mortgage loan Nationstar has dragged their feet while allegedly conducting a review of my financial information.. This is a clear example of dual tracking, and this is in violation of federal and state guidelines for loss mitigation programs. I believe there are multiple violations that Nationstar needs to take into consideration, including violations of the Truth in Lending Act ( listing ex-husband as co-signor on loan when he was not present ) as well as violations of the RESPA act based on falsified and overstated income on the application and the handwritten addition of my ex-husbands name to the application after the fact. Additionally, Nationstar failed to offer the option of mediation as mandated by the state of New Jersey. Instead of following the rules and playing fair Nationstar has moved to set a sale date. I have owned my home since XX/XX/XXXX and refinanced into my current mortgage loan in XX/XX/XXXX. I have worked as a XXXX XXXX and XXXX for over 25 years and never had a problem making my mortgage payment. In recent years the economy hurt business and it became very hard to add any new clients and existing clients were trying to do things in house to save money, which led to me struggling and ended up defaulting on my mortgage with XXXX. I contacted the loss mitigation department at XXXX and began submitting documents in order to have them conduct a review of my financial information. All paperwork was submitted to XXXX for review by early XX/XX/XXXX. On XX/XX/XXXX XXXX filed a foreclosure complaint against me. While litigation was ongoing, I was approved for a trial loan modification by XXXX in XX/XX/XXXX. I proceeded to make 4 trial period payments of {$1200.00} each between XX/XX/XXXX and XX/XX/XXXX, which was slightly less than my original mortgage payment, while litigation still proceeded against me. I wanted to save my home so I made all of my trial payments as agreed. I was told by my XXXX home advisor that the amount of my trial payment would be the amount of my monthly payment. I was expecting this offer to be made permanent, but then I was told that the original agreement was no longer valid and I received a new modification approval with a monthly payment of {$2400.00}, which was immediately pulled again and replaced by a second modification approval with a monthly payment of {$2700.00}, extending my term from 19 years to 40 years, and increasing my principal by close to {$54000.00} while maintaining my interest rate at 5.75 % in a market where the going rate was 2 -3 %. I could not believe that XXXX XXXX had pulled the original offer, and was even more shocked that they had doubled my original mortgage payment in this so called modification. I could not afford this and did not accept the offer and tried to get anyone who would listen to work with me to put something that made sense on the table. Alas, I did not make any progress with XXXX as they continued litigation against me. In XX/XX/XXXX, my loan was transferred from XXXX to Nationstar. Nationstar has yet to review my current and correct financial information, but in the meantime the foreclosure is ongoing. This is a clear violation of the dual tracking provision. To date I am still fighting foreclosure, and I have no idea where I stand, I just know that Nationstar/XXXX have set a foreclosure sale date of XX/XX/XXXX.

Company response to consumer: Closed with explanation