Consumer complaint received 2015-04-08
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: NATIONSTAR MORTGAGE LLC (CA)

I am very frustrated with Nationstar Mortgage. I have tried repeatedly to get them to review my financial paperwork so that I can be considered for modification but continue to run into roadblocks. They have now set an auction date of XXXX XXXX for my home, which I have lived in for nearly 30 years. This is not right or fair. Our financial situation has steadily improved over the last couple of years and we know this could work if given the chance. Instead we are given excuses about how our paperwork was not received. After going through the lost fax excuse several times we began mailing our paperwork certified to verify it was received. Even when we had proof the documents were received by Nationstar, they still would tell us they did not have it. This is beyond frustrating. Why ca n't they assign us XXXX specific contact to handle our case? We talk to a different person every time. Why is the customer service so bad? It seems like they are overwhelmed and not capable of doing their job properly. This is my life and my home on the line here, and they should take it more seriously. 
I have worked as a XXXX in this area for over 30 years. When this loan was written I owned XXXX and also owned several XXXX. We were in a good position, and we refinanced this property in order to get some cash to purchase another investment property. However in XX/XX/2008 things got bad quickly. Business slowed down, and soon literally dried up. I went from a thriving and busy company XXXX to just one, ME, working part time. My wife, who worked as a XXXX at XXXX local resort hotels saw a huge decline in her income as well -- -less events, less people travelling etc.. We also were affected by the huge drop in value on our various properties, which prevented us from refinancing out of some of these problems. We lost XXXX of our apartment complexes to foreclosure, did a deed in lieu on another, etc. It was bad. At that time our loan was with XXXX XXXX XXXX. We tried to see if they would work with us on this loan, but could not get any straight answers regarding help and options to restructure or modify our loan. 

After the loan got transferred to Nationstar things had started to improve financially for us. We engaged Nationstar and were told to complete the financial package and fax the documents in for review. As explained above, we complied with their requests but on multiple occasions documents were lost or apparently never received. This excuse continued even AFTER we mailed things in with signature confirmation, so it all sounded a bit shady. 

I have been told that Nationstar is required to complete a review for all possible retention options based on my current financial status. My current financial status is good -- my wife is busy at her XXXX XXXX jobs, I am back to XXXX working for me and we have XXXX rental properties that generate income. We can afford a fair and reasonable mortgage payment, but we have not been given any options, in fact a review has never even been completed. We are not able to reinstate the loan in XXXX lump sum as Nationstar 's collection agents have suggested, but we can make a reasonable payment if they would work with us.