Consumer complaint received 2015-05-08
Company: NATIONSTAR MORTGAGE LLC
State: NC
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
XXXX during the bank collapse and stock market crash our business took a serious hit. Our family is XXXX here in the states and our construction company provided income for our family and funded our XXXX work. XX/XX/XXXX I contacted our mortgage company, which was XXXX XXXX at that time, and explained to them that we wanted to do some type of modification on our loan. Due to the fact that we were not behind, they said they could not help me. After using up all of our resources we fell behind on our payments and the bank began to contact me. During the next several months we worked on a modification to resolve our problem. After months of work and mountains of paper work, which was lost several times, XXXX XXXX contacted me and told me that they could no longer help me that XXXX XXXX XXXX was taking over their company and that some one would contact me. Several months passed and XXXX contacted us and we started the modification process over again. This was a nightmare for over a year. We went round and around with these incompetent people. XXXX lost our paper work several times, the modification numbers were all wrong. They had us paying HOA dues, which we do not have, the homeowners insurance was incorrect. It was a total mess. Finally I wrote each of the board of directors of XXXX explaining the situation. I was contacted by a XXXX vice president a few weeks later. This man promised me that we will work out a modification that will work for the bank and us. After several months working with this gentleman, we were feeling good about the progress we were making and the direction we were headed. I received a letter in the mail from the court house saying they had dismissed our case with XXXX due to missing documents.Then out of no where this man quit calling me. I would call him, but there was no answer. I called for weeks the phone would ring several times and then the call would be dropped. Roughly a month later I was contacted by XXXX and they told me that they would no longer be helping me, that Nationstar would be my new servicer. Over the next few weeks Nationstar began to contact me. As of this time several years have passed and I still do n't have a modification, not even close to one. As we start the process all over again with Nationstar unbeknown to me the worst was yet to come. This company has lost literally hundreds and hundreds of documents. I mailed documents, even certified them and they were still lost. As months continued to pass we were still with out a modification of any type. XX/XX/XXXX, XXXX years later we have a modification plan that I thought would work. After making the XXXX trial payments I received my documents to sign. I was totally blown away. The modification plan added up all the past payments that were not made, which is 75 % interest and added it to the principle and now the principle is XXXX over tax value. The plan calls for me to pay interest on the interest. This is predatory lending in the first degree. The modification also extended the loan to XXXX years. There is no way a person with average intelligence would sign such a document. I contacted Nationstar and filed an appeal. There comment back to me was " take or leave it ''. So as of today we have been forced in to bankruptcy in order to stay in our home. XXXX XXXX, XXXX XXXX XXXX and Nationstar have taken a bad situation and has made it worse. Can someone please help us.

Company response to consumer: Closed with explanation