ED Magedson – Founder
Nationstar Mortgage350 Highland Drive Lewisville, Texas USA
Nationstar Mortgage Bank of America Loan Modification with Bank of America not honored by Nationstar Mortgage. Lewisville Texas
I had completed a loan modification with Bank of America and my first permanent modification payment was made on June 1, 2013. When I signed my permanent loan modification paperwork with BofA I noticed an error the underwriter made in the BofA documentation. BofA recognized, then advised that they would correct the error. BofA told me they would send me corrected documentation to sign. Well two months go by and then my loan got transferred to Nationstar Mortgage effective June 4, 2013. Bank of America said they are no longer responsible and could not help me in any way as the loan was now transferred to Nationstar.
Nationstar says they are working on this when I call them and now it has been almost three months that have gone by. I continue to make my permanent loan modification payments, however Nationstar has written me with certified mail stating that my mortgage is several months past due and now they served me with certified mail stating that they intend to enforce the provisions of my original note and related security instrument unless I pay the full amount of the default on the loan by 9/25/2013.
Essentially Nationstar says one thing on the phone "that they are working on it" however I am being communicated with written documentation and served with written documents that state they are going to enforce the original note, in other words foreclose. Basically my permanent loan modification that I spent about a year working on with Bank of America is not being recognized, or revoked by the new servicer Nationstar mortgage. I have provided all the documentation I received from BofA to Nationstar, however they do not recognize the permanent loan modification. Nationstar also has not returned any of my calls on this question. I have had to always call them again, and again, and again.
I have had what they call 6 seperate SPOC single points of contact all of which I left messages with or can't reach, and after asking to talk with supervisors I get the same old answer - well we will escalate the call, but nothing happens except the letters I receive saying how much I am late and in default and they are going to enforce the original loan agreement and foreclose. It seems like Nationstar is dragging this out until they can show I am so far behind, and then jump in and try to foreclose, with out regard of the Bank of America permanent loan modification.
This all started because Bank of America's underwriting department made an error and then transferred the loan to Nationstar who now isn't recognizing my previous loan modification. I feel they are both terrible companies to deal with and somewhere there should be some type of redress for me due to all the emotional trouble, and time I have had to spend just to try and make use of a governement program that shouldn't be that difficult to implement. It is ridiculous, and maybe if they were penalized in some way they would get their act together. Next stop for me is the Consumer Financial Protection Bureau where I plan to lodge a compalint. It has been too long, waiting and waiting only to find out they plan to start foreclosure proceedings 9/25/2013.
This report was posted on Ripoff Report on 08/25/2013 09:27 AM and is a permanent record located here: http://www.ripoffreport.com/reports/nationstar-mortgage/lewisville-texas-75067/nationstar-mortgage-bank-of-america-loan-modification-with-bank-of-america-not-honored-by-1078880. 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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