Consumer complaint received 2015-05-01
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: NATIONSTAR MORTGAGE LLC (CA)

To whom it may concern : I have lived in the XXXX area for 35 years. I bought my home 12 years ago and have really felt blessed living here. I am a XXXX and have been in the XXXX field for over 20 years. I also XXXX and my wife just began working as a XXXX. In addition to our professions, we also volunteer our time helping with fundraisers for the school ( we love kids ) and also our church, and with events geared towards helping the needy in our area too. We are active assets to our community, but we are now in need of some help ourselves. Due to some unfortunate circumstances and our lender 's unwillingness to cooperate, we are in danger of losing our precious home ... it is scheduled to go up for sale on XXXX/XXXX/XXXX!!! 
There have been problems with this loan from the beginning. I was lured into refinancing this property to take advantage of the equity that had built in this property when the market was skyrocketing in the XX/XX/XXXX 's. I was put into a " stated income '' loan and nothing was explained to me about the terms of this loan. I was n't very experienced with all the mortgage options out there, and I feel I was taken advantage of when they put me into an option ARM. I did n't know what that was or what it meant ( that my interest rate and payment could and likely would increase!! ). 
I was handling the mortgage until I lost my emergency teaching credential around XX/XX/XXXX. I started missing payments, but I would find a way to catch up or at least stay out of default ; I struggled doing this for over 4 years just trying to honor my commitment to pay for my home. I finally contacted XXXX XXXX XXXX for help. I applied for a modification, but I was put on an endless cycle of missing paperwork for months, until I was offered a solution that was just a reset of the same predatory loan ( high interest rate that 's adjustable and a high payment ). Again, it was n't explained to me, but I had to accept it to avoid losing my home. I made the payments as long as I could until XX/XX/XXXX when I fell behind again. 
So I went ahead and tried again and applied for a modification. Once again, I was constantly asked to submit documents over and over again. I was never given XXXX person to call regarding my file, just a department phone number where I got different answers each time I spoke to someone new. Due to their inefficiency, I had to start the process over repeatedly, and to this day I still have n't gotten an answer to my applications for a modification. 
I know XXXX XXXX XXXX and Nationstar are in legal trouble for how they 've handled borrowers like us. It must be illegal to proceed with a foreclosure while you 're evaluating someone for a loan modification, right? I 'm not asking for a handout, but my situation seems to be ideal candidate for a loan modification ( predatory loan, legitimate hardships, and my property value has over XXXX of its value since the loan was taken out!! ). Plus, we are in a better financial position now, especially with my wife now working as well. We just want a fair chance to save our home and get out of this predatory loan and into a loan we can sustain into the future. Any help towards these goals would be much appreciated. Thank you for your time.