Consumer complaint received 2024-09-17 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: Mr. Cooper Group Inc.
State: CA

Complaint narrative:
To whom it may concern, XXXX, XXXX XX/XX/XXXX XXXX, our house got foreclosed by Mr Cooper and we believe that this is a wrongful foreclosure and needs to be nullified. 



1. This foreclosure violates " Dual Tracking.

We were trying so hard to keep this house so we sent Mr Cooper Loan Modification Package multiple times so they could modify the loan and they were reviewing this package. On the date they recorded a trust sale date, the modification package that we sent on XX/XX/XXXX was still under review. This modification package was declined on XX/XX/XXXX which is 15 days after they recorded the Trust Sale. We even sent the Modification package on XX/XX/XXXX. According to RESPA 12 C.F.R. 1024.41 ( g ) ( 2014 ), this is prohibited. proceeding with a foreclosure sale while processing a complete loan modification application submitted at least 37 days before the scheduled sale and this prohibited practice is known as " Dual Tracking ''.

2. Mr Cooper " misled '' us.

After we received the notice of the Trust Sale date, we contacted Mr Cooper right away to see if we can hold the trust sale date. The representative advised on the phone that if we can send a signed Purchase contract and the buyer 's Proof of Fund then they will hold the trust sale date to give us time to close the Escrow.

Because Mr Cooper told us that they can postpone the sale date, we primarily focused on finding the buyer. 



We finally found the buyer who offered {$1.00} XXXX and Full Cash transaction and submitted the documents to the bank. We even opened an escrow on this property and it was going to close on XX/XX/XXXX. 



At the last moment, one day before the foreclosure date, the bank declined our request to postpone the sale date. We called many, many times to postpone the sale date and they replied " The loan is too old and we can not postpone the sale date. '' The loan was old from the beginning and they could have told us that from the beginning. Then we could have focused on alternative options. But they were giving us false hope to keep us from looking elsewhere. 



We strongly believe that this bank " misled '' us on purpose to keep us from seeking another alternative and they can foreclose on the house. Making us believe that foreclosure can be postponed and don't look for other alternatives, and decline at the last minute so we don't have any other option.. One representative even told us that he worked there for 21 years and he has NEVER seen a foreclose date postponed. We strongly believe that this is how this Mr Cooper operates to rob the houses from the distress home owner and make even bigger profit. We sincerely ask your help to look into their business practices to see if they EVER postpone the sale date.

3. We can " pay off '' the loan amount As mentioned above, we do have a buyer who wants to buy this house and he's offering well above the " pay-off '' amount. If the bank nullify and reverse the Trust Sale, then we could sell the house right away and pay off whatever we owe. 





Please look into this matter and please please give us a chance to sell this house in the proper way. 



I really appreciate your help in advance.

Company response to consumer: Closed with explanation