Consumer complaint received 2024-09-08 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, Hello, First, thank you very much for reviewing our complaint. It means a lot to us. 

On XX/XX/XXXX XXXX, our house got foreclosed by Mr Cooper ( former known as Nationstar bank ) and we believe that this is a wrongful foreclosure.

1. They miss-led us After we received the notice of Trust Sale date, we contacted the bank to see if they can hold the trust sale date. They advised on the phone that if we can send a signed Purchase Agreement and the buyer 's Proof of Fund then they will hold the trust sale date to give us time to close the Escrow. 

Our house value now is around {$1.00} XXXX and the amount we owe is {>= $1,000,000}. The house value is well above the amount we owe, so we would have no problem paying off what we owe to the bank if we have time to sell the house. 

Because bank 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 all 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 the other options. But they were giving us false hope to keep us from looking elsewhere. 

They proceeded with foreclosure on XX/XX/XXXX and now the Mr Cooper owns the property. 

We strongly believe that this bank did this 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 another 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 really postpone the sale date. Or they try to lure customers into believing that the trust sale date can be postponed and keep them from finding another alternatives. 


2. This dis Dual Tracking. 

Me and my wife were trying so hard to keep this house so we sent Mr Cooper Loan Modification Package multiple times so they can modify the loan. On the date they recorded a trust sale date, XX/XX/XXXX, 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 14 days after they recorded Trust Sale. We even sent the Modification package on XX/XX/XXXX. Can they proceed with Trust Sale Date when the Loan Modification Package is under review? Isnt this in violation of dual tracking? ( RESPA 12 C.F.R. 1024.41 ( g ) ( 2014 ). This prohibited practice proceeding with a foreclosure sale while processing a complete loan modification application submitted at least 37 days before the scheduled sale is known as dual tracking. ) 3. Hardship My wife was diagnosed with XXXX XXXX years ago and we had to travel back and forth to XXXX to get treatment. She went through XXXX, XXXXXXXX XXXX XXXXXXXX, etc. When they notified us of foreclosure sale date, which was 1 month prior to the foreclosure date, we explained many times and sent proof that we are experiencing extreme hardship, they would not accept it as the reason to postpone the sale date. They told us that only way to hold the foreclosure is to send them the Purchase Agreement and the buyer 's Proof of fund.

Unfortunately, we do not have the record of the phone conversations with them. They would record our conversation but if we record it, then they would not speak to us. But please find enclosed documents that prove that we had purchase agreement before the sale date and we have opened an escrow. We sincerely ask your help and look into this matter. Please help us get our house back so we can sell the house and pay the bank what we owe. 

Please Help!

Company response to consumer: Closed with explanation