• Report: #445652

Complaint Review: Nationstar Mortgage

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  • Submitted: Tue, April 21, 2009
  • Updated: Thu, April 23, 2009

  • Reported By:Huffman Texas
Nationstar Mortgage
Loss Drafts, 1 Assurant Way Springfield, Ohio U.S.A.

Nationstar Mortgage HOLDING INSURANCE FUNDS HOSTAGE Springfield Ohio

*Consumer Comment: I can feel your pain, the other side

*Consumer Suggestion: Dear Victim/Twice= NO MORE Victim/Dateline NBC may rescue you & others

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My home was heavily damaged by Hurricane Ike and is uninhabitable. I have no complaints or problems, whatsoever with the insurance company - Farmers Insurance. My agent was wonderful to me and responded quickly and was very concerned about my well being and my health. My adjuster was very nice and concerned about me, as well. They sent the adjustment check in a very timely manner and I endorsed and sent to my mortgage company as required by Nationstar Mortgage. I hired a contractor and he required 50% of the funds up front before he would begin the work. The total of the first draw ($19,000 - half the adjustment) was sent by the mortgage company and the contractor insisted that I endorse the check over to him, which I did. It was almost one month before work ever started on my home. I got a new roof and rafter repairs. On the inside I had a small 1/2 wall removed, the kitchen was gutted, a small hall closet taken out to make room for a new bathroom vanity installation, flooring was laid in the area in front of the vanity, flooring layed in the kitchen and entry way (I provided all the materials for the floors), scraping of ceiling and re-texuring and painting of bedroom and closet doors in bedroom and insulation and sheetrock and paint installed in the kitchen and dining area (the room was also gutted by the contractor, of which he left all debris in my garage and back yard). The contractor's carpenter needed materials and I purchased them for him to continue the work, since the contractor would not return either his or my calls. Contractor finally called me back and told me he would leave me a check for reimbursement. The check he gave me was insufficient, which made me overdrawn in my bank and to exacerbate that problem, my bank charged me over $250 for insufficient funds. Things went downhill from there with my contractor, whom I suspect was having "personal issues", and ultimately I had to fire him. The mortgage company sent someone out to my house to inspect the job and signed off at 45 percent completion. I hired a second contractor who jumped through all the hoops required by the mortgage company to release more funds so that the work could continue. The mortgage company kept coming back asking for additional documentation and finally the second contractor decided not to accept the job due to "my mortgage company being too hard to deal with". Finally, after many tears and sleepless nights, I found another contractor who was willing to help me. He agreed to repair my house with the remaining funds and has done everything the mortgage company has asked him to do and as of today, the mortgage company is refusing to release any more funds until the job is 100% complete. This is simply ludicrous. How can any company expect the job to be done with no money for supplies and materials, etc? It is like going to the grocery store and getting the groceries, but not paying for them until you have cooked and eaten them! Maybe a bad analogy, but nonetheless apt. This situation has caused me so much heartache, strife anxiety and thoughts of suicide. I am crying as I sit here and write this to you. I am living elsewhere and paying more expenses than I would have to if I was in my own home. Can you please tell me if I have any legal recourse or is this just the status quo for these greedy vulture mortgage companies who feed off of victims such as myself? I am hoping you might be able to offer some guidance to me. I am at a point of desperation right now. Any advice you can offer me is greatly appreciated. I simply don't know where to go from here. Sincerely, Victim twice

Victim twice
Huffman, Texas
U.S.A.

This report was posted on Ripoff Report on 04/21/2009 08:08 PM and is a permanent record located here: http://www.ripoffreport.com/r/Nationstar-Mortgage/Springfield-Ohio-45501-6501/Nationstar-Mortgage-HOLDING-INSURANCE-FUNDS-HOSTAGE-Springfield-Ohio-445652. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

I can feel your pain, the other side

AUTHOR: Burned Customer - (U.S.A.)

My Husband works for a small, Heating and Air company.His boss took a 25,000 deal, to install all the Airs, for a hotel called Holiday Inn.The trick was, my boss would have to do 100% of the work, before the Mortgage company would pay out also. Normaly the company would never take on a job, that the customer is not paying at least the materials up front.But because the ecomony is so bad, and work was slow, he took the job.Big mistake, the jobs done, and now the mortgage company is also holding onto the funds, stalling, playing games, today, they said they cant pay until the units have run for 2 weeks. This is such, bs.. So now my employer, cant pay the supplier, who credited the materials, and they have stoped, all credit transaction.,Basicaly, he is about to lose his buisness, due to this company not paying for services rendered.It will be the last time ever, that this company will do 100% of work, without any payment. These companies, do not care who, or how they screw people.
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#2 Consumer Suggestion

Dear Victim/Twice= NO MORE Victim/Dateline NBC may rescue you & others

AUTHOR: Miss Guardian - (U.S.A.)

Dear Victim/Twice: Do not give up/do not surrender to their ways! If you go on here & look at the others that are dealing with Nationsatr Mortgage LLC you shall see what the chaos is all about! You absolutely have recourse! Write to the BBB, your Congressman/woman/The Baking & Finance Committee & The State Attorney General's Office! The next time you contact that company ask them up front for a supervisor/then ask the supervisor would he/she (get their name & have them spell it) mind if you tape record the conversation with him/her & then send you a Confirmation Letter in writing of the Conversation to you as a Certified Mail Return Receipt requested mailing. Remind them that honest companies have no qualms about being recorded when asked. Also go onto website Livinglies dot com for more info! It has been alleged that they are to be stripped of their license as of May. Check it out! God Bless All of these victims, we pray for all of you for Justice for you!
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