Consumer complaint received 2017-09-01
Company: NATIONSTAR MORTGAGE LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I had filed a complaint against my mortgage servicer Nationstar and they recently responded and addressed my allegations and concerns. My issue is that they are telling me that my problems are not real problems and that there is nothing that they can do about them. They are also telling me that the only workout solution that can be considered is one with a monthly payment that is nearly half of my income. This is not affordable and not accurate and because of the issues with this property and relating to the origination I believe that a negotiation that is more equal is possible. I dispute and appeal the information that Nationstar provided in their response to my CFPB complaint XXXX and want them to respond and address my additional concerns, which to date they have refused to do. 
Nationstar states that even if I was a victim of mortgage fraud, even if the loan broker was convicted of fraud and sent to prison that Nationstar has no liability and that since I signed the fraudulent documents I am stuck. I will respectfully disagree, and if this situation ends up in a courtroom and the original loan documents and XXXX application etc. are produced the rampant fraud and misrepresentation and breach of fiduciary duty will be apparent. Nationstar has a vested interest in not only the asset of this loan but also the liability, and a loan that was originated under fraudulent circumstances is suspect and there may be substantial liability for the servicer and investor who own this mortgage loan. Having an executed deed of trust for a fraudulent mortgage loan does not give Nationstar the right to foreclose, because the entire transaction is called into question. 

My next issue is Nationstars claim that the title is clear. I am not disputing that Nationstar may hold a clear title, but no title company will write a new policy on this property based on the fraud, criminal actions and property damage, as well as the likely scenario that a lis pendens will be put on title. If Nationstar tried to auction off the property they would only be able to accept an all cash offer. However, with the property damage from the oil leak this would likely be a tear down situation and before anyone could rebuild here there would have to be major environmental tests on the soil etc. As I explained in my earlier correspondence in XXXX we had a major leak from an oil tank outside the property which resulted in a devastating fire. Because of this, my mother and I had to move out for 18 months as we tried to clean the place up. The issue was that the oil had penetrated into the foundation of the house and it is now permanently contaminated. The smell is overwhelming and I had estimates on cleaning the place up of {$150000.00}. 

A new buyer would never be able to get a certificate of occupancy on a mortgage loan and title would never insure the place. Nationstar would have to find an all cash buyer who wanted to tear the place down and then spend the money to have soil contamination tests etc. completed and then build a new house. Not impossible, but highly unlikely. Nationstar will be stuck with this property and it will sit vacant and be taken over by squatters and become a haven for crime. I dont believe this is the most profitable solution for Nationstar. 
I received the modification offer and I appreciate that Nationstar has shown a willingness to work with me. However, this monthly payment of {$3100.00} is close to half of my monthly salary and is not affordable. Additionally, saddling me with a principal balance of over $ 500K for a property that is significantly damaged and currently worth $ 90K does not work for me. I need Nationstar to do better, and I will prepare and submit a new package for their review.

Company response to consumer: Closed with explanation