Nationstar Mortgage ripoff, fraud, mortgage, lenders, loan, interest rate, lawsuit, fraudulent, illegal, foreclosure, inexperienced, misleading, borrowers, adjustable rate, fixed Dallas Texas

My mortgage was sold by Bank of America to Nationstar Mortgage in June 2013.  My husband and I had been in our home since January 2007 with the same interest rate and same monthly payment since purchase. Our original mortgage company was NationPoint Mortgage who sold the loan to Bank of America.  Anyway one month after our first payment, which was the same as it had always been, to Nationstar, we recieved notice that our payment was increasing by $206.15 effective September 1, 2013 while our interest rate remained the exact same as the original.  I was baffled by this and called.  When I spoke to customer service, I was put on extremely long holding periods while they supposedly looked into my loan.  I was transferred to four different people and none of which could explain why my mortage payment increased. Finally I was told that my account had to be reviewed by an account specialist and I would be contacted in 7 days.

Well two weeks passed and that call never came, but a statement came in the mail reflecting the new payment.  This prompted me to call back.  When I called, I was given the same run around that I was given the first time, but the last representative, Beverly employee #771709, told me that my payment increase because there was an increase in the principal and not the interest rate on my loan. I have never known of the principal of a loan being increased without an increase in interest rate.  I am no expert, but this sounds illegal to me.  I demanded a copy of my note be mailed to me, and I will be visiting an attorney.  All of the persons that I spoke with seemed very inexperienced.  Terrible business!