My husband and I took a small HELOK with our bank and it was subsequently sold to NatonstR Mortgage which is commonly industry practice. We set up automatic deductions for our monthly payment with no problems.
With approximately $7000.00 remaining, we decided to payoff the balance and estimated the remaining balance and accrued interest. We were short by $16.18. That’s when our problems began. Every time we attempted to make a payment for the remaining balance, Nationstar returned the payment as a short payment.
We made over $ 800.00 in payments to payoff the $16.18 in vane. All $800.00 was returned, claiming we owed additional interest and late fees and a lien release fee of $700.00 which was not identified in our contract.
After months of trying to resolve with Nationstar, I sought the assistance of the NYS Defartment of Finance. In the meantime, Nationstar, erroneously, release the lien. With the help of NYS Dept.
of Finance, we were able to resolve and Nationstar credited the erroneous fees and finance charges, supposedly honored the release of lien and made an adjustment to our credit report.
But it doesn’t end there. A year later is when the real trouble began. We received notice of foreclosure, despite Nationstar’s purported resolution in our favor. We provided the courts with all of our documentation and contacted the NYS Department of Finance for addition help.
Nationstar, once again, apologized and offered to resolve. Nationstar claimed the foreclosure filing was in error. However, we are plagued with solicitation for legal representation and offers to buy our home for cash (telephone and mail). The picture of our home appears online as a for sale due to foreclosure.
It is embarrassing and upsetting. My husband wants to sue Nationstar for all the aggravation we have encountered.
I strongly recommend not doing business with this company. I have filed a complaint with the NYS Attorney General in hopes this company will be prohibited from operating in NYS.
Product or Service Mentioned: Nationstar Mortgage Loan.
Reason of review: Problems with payment.