Lawsuit Says Nationstar, Bank of America Overcharged Homeowners Putting Them at Risk of Foreclosure

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Lawsuit Says Nationstar, Bank of America Overcharged Homeowners Putting Them at Risk of Foreclosure

Nationstar Mortgage Holdings and Bank of America have been hit with a proposed class action accusing them of inflating the amounts owed by mortgageholders when their loans matured.

Filed on Friday in federal court in Fresno, California, the lawsuit seeks damages for borrowers nationwide who were allegedly charged “extortionate” amounts not listed on their mortgage payment schedules, putting them at risk of foreclosure.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2d3uUHd

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4closureFraud.org

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3 Responses to “Lawsuit Says Nationstar, Bank of America Overcharged Homeowners Putting Them at Risk of Foreclosure”
  1. stephanie zorie says:

    Nationstar “took over my mtg” within a year of securing a mtg on the property, tho Nationstar had no right ultimately to even service this particular loan, and the loan was not an adjustable rate mtg..my payments went from $1,400 to $2,600 a month..I was told it was an increase in taxes and insurance..they refused to allow me to “change insurance companies” and there was insurance included in the monthly $1,400 a month payment!
    I never received an explanation or printout of the additional costs but was unable to pay the $1,200 a month in the additional “payment”, thus losing the family home of 50 years!

  2. Do you have case name ?

  3. bgreen50 says:

    THAT IS TRUE. They throw any numbers they want.
    I had my payment raised 2 times within 6 months of getting thr loan. From &2,600 to $3,200 then $3,660.
    They said they had not calculated escrow properly. The first one was done by phone call. I was naive then!
    They took my home of 40 years! Now without a home.

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