Consumer complaint received 2017-11-10
Company: NATIONSTAR MORTGAGE LLC
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Please refer back to my original complaint only 45 days ago # XXXX The complaint filed - and apparently I need to now REFILE - is that Nationstar, dba XXXX XXXX in fact did respond ... ..tritely, no thinking or real review put into it - and overlooked the primary fact that they INCREASED my principal mortgage balance by over {$200000.00}. Nationstar was not the original servicer of this loan in XXXX - XXXX time frame while I was working with the original Bank - XXXX SAVINGS Bank to modify the mortgage on the basis that the ENTIRE country was in financial crisis and housing was hit hard. I lost my job and yet worked with them for OVER 2 years to provide documentation over and over and over again XXXX XXXX XXXX - and they would lose it. Why? They went bankrupt and insolvement absolving themselves of all debt. The loan was sold to Nationstar in XXXX - and shortly thereafter with NEW paperwork again, the loan was modified. However, here is my issue - the mortgage payments for interest being accrued on the {$1.00} XXXX mortgage loan balance - they simply 'tacked ' onto the mortgage loan creating and inflating the loan to {$1.00} XXXX - at 4 % - which actually RAISED my payments. I had NO CHOICE because after 2.5 years this had to end. However, I was given NO negotiation or forgiveness of what CLEARLY was a hardship and one that they chose to simply ignore AND CAPITALIZE on. They changed my rate back to 6.625 % last year and therefore - over the past several years they have PROFITED GROSSLY AND EXCEEDED THE INTEREST DEFICIT OF $ XXXX ( {$190000.00} ) IN 'missed interest ' accrual from XXXX - XXXX. I was PROHIBITED FROM MAKING PAYMENTS during that time - which is overlooked. Additionally, I have owned this home for 13 years ... ..the balance has GONE up by over {$200000.00} and the differential in them 'assessing ' the last several years of interest ( 5 years ) - on the additional {$200000.00} they tacked onto the loan principal - has made them SIGNIFICANTLY more than the {$190000.00} - NOR did I have a choice to even discuss or negotiate that. I could have paid an additional {$2000.00} per month for over 1 year ( 4 years ago XXXX - and that interest would be paid in full. Now, they have benefited from the INFLATED INTEREST ACCRUAL - AND I own $ XXXX MORE than what I borrowed - all for being someone who meets her obligations - did not default - and met terms of a 'modification ' that most people would not have been able to handle. The purpose of modifications is to HELP mitigate unusual circumstances to retain the home and work with the homeowner. NONE of that happened, and here I sit 14 years later with a home that is valued around {$900000.00} and I owe {>= $1,000,000} on a first mortgage, that was originally {$1.00} XXXX. The payments just were ADJUSTED UP ANOTHER {$1800.00} to account for the 10 year adjustment - and amortized for 20 years. Once again, the tacking on of this $ XXXX additional principal to my loan 5 years ago - is Usurous and reprehensible. They have made a fortune off of the interest accrual AND NEVER even gave me a break on anything. They simply respond as normal through legal departments - sorry for some standard frustration, but, we are doing nothing and we are right. They are wrong in the way they gave me NO RELIEF, XXXX CONSIDERATION for the 2.5 years of agony and refusal of mortgage payments - now taking the ONLY choice they gave me and ADDED and COMPOUNDED INTEREST on an additional $ XXXX for the past 5 years ... ... ... ... ... .and the balance is the same. They can not and should be made accountable to this and reduce and remove that massive $ XXXX principal add on as THEIR INTEREST not paid during the 'XXXX  XXXX - then eventual sale to Nationstar XXXX - has MORE than been paid and compensated to them on the sheer basis of the PRINCIPAL LOAN INCREASE and the compounded interest they have charged. That is double dipping at best. They just adjusted my loan to the 20 year amortization for the term, which is fine, BUT the rate is wrong, yield + margin 2.25 % per documents and the libor yield at the time would have resulted in a rate of 3.625 % - not 4 % - there is no documentation I can see to show their calculation and basis for that rate. I WILL NEVER GET out of this loan OR SATISFY THE LOAN if they choose to absolutely continue to take advantage of me ... .it 's pure insanity and there is no one at any bank in any kind of servicing department who, A - answers the phone, and B- has any authority or common sense to really look into exactly what happened and their exposure and eggregious capitalizing in fact that has been done. Please look into this I do NOT WANT TO STOP THE COMPLAINT RATHER CONTINUE TO MOVE FORWARD ON ANY AND ALL ACTION NECESSARY. thank you

Company response to consumer: Closed with explanation