Consumer complaint received 2016-03-31
Company: NATIONSTAR MORTGAGE LLC
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I am trying to get my life back on track after my husband fell ill, lost XXXX jobs and was diagnosed with XXXX XXXX. In XX/XX/XXXX/XX/XX/XXXX we fell behind on our mortgage payments. We purchased the house in XX/XX/XXXX and had NEVER missed a payment. It took a few years to get a diagnosis, all without health insurance. Now he is on XXXX and we are divorced. I want to keep the house. I applied for a modification. The loan was with XXXX, the trial modification was approved, I made all payments on time, then XXXX sold the servicing rights to Nationstar, right before the loan was permanently modified. The original terms of the mortgage were 15 year fixed at 5.875 % from XX/XX/XXXX ( when we refinanced ). At that time my payment was about $ XXXX/month including principle, interest, insurance and taxes. The trial modification had me paying $ XXXX/month, which I am now able to afford. Nationstar just sent me the terms of the new, modified loan. The interest rate is 5.675 % and the duration was extended to 20 years. I understand these terms are more favorable to the bank, but I was shocked when I saw this. I looked up the current mortgage rates on yahoo finance. Today, the 30 year fixed is at 3.73 % and the 15 year fixed is at 2.83 %. I wonder how many banks today wrote a mortgage for 5.675 %? For 20 years? I 'm guessing not too many. I would like to know why I am being forced into these very unfavorable terms. I have to sign this new closing before XXXX XXXX. Nationstar appears to be taking advantage of a homeowner that is in a desperate situation and wants very much to keep their home that they have been living in for over 16 years. I called my point of contact, XXXX XXXX, at XXXX, I left a long message. He never called back. I am also hoping to modify my HELOC. If Nationstar forces these unfavorable terms on me, the chances of me refinancing my HELOC drop significantly. The HELOC is owned by XXXX. If they do not think I can afford both the primary and the HELOC they will not offer me a modification of the HELOC. They will proceed with the foreclosure ( summary judgement has already been filed by their counsel ). XXXX will foreclose on the house and then we all lose. This scenario is being played out over and over again, in my neighborhood, all over XXXX, all over the state of Florida and all across the country. Is this the greed of the big banks preventing desperate homeowners from keeping their homes? Or is it the fact that the big banks are giant companies that ca n't seem to get anything right-there is not one person that can take responsibility for facilitating the fair and rational solution to problems like mine. There is not one person that can be held accountable. No one that truly has decision making authority has any contact with someone in my situation so it is perceived as though they really just do n't care what happens, as long as they get paid. I am asking for help to get Nationstar to reevaluate this unfair mortgage. Please look at todays mortgage rates and tell me if this makes sense. Thank you.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation