“I don’t understand it. I never missed a payment. I don’t have a house anymore.”
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Nationstar Faces Allegations of Foreclosure Fraud
A Shelby County Circuit Court lawsuit and government records revealed a pattern of fraud allegations against mortgage-servicing company Nationstar Mortgage.
The WMC Action News 5 Investigators launched an investigation of the Dallas-based mortgage-servicer after it foreclosed on the Cordova, Tennessee, home of Linda Howard. Howard and her husband had owned the home since 1998. Her attorney Kevin Snider produced records that proved Howard never missed a payment since Nationstar Mortgage started servicing her mortgage in 2011.
Also according to the records, Nationstar Mortgage suddenly started refusing her monthly payments in February of this year. From February to May, the company sent her payments back with statements posting thousands of dollars in unexplained fees like “property inspections” and “disbursement insurance.”
“I wrote them. I called them. And I got no response,” Howard said.
Snider said Nationstar Mortgage kept returning Howard’s payments and kept ignoring her requests for explanation of the fees until it foreclosed on her house in May, then sold it at auction. “Nationstar improperly foreclosed on the property,” Snider said.
Snider filed a lawsuit on Howard’s behalf in Shelby County Circuit Court. The suit alleges Nationstar Mortgage committed negligence, fraud, breach of contract, breach of the implied consent of good faith and fair dealing, violations of the Tennessee Consumer Protection Act and unjust enrichment based on “…improper, inaccurate and fraudulent representations” of “…improper or excessive late fees” designed to force the Howards into foreclosure “…so that (Nationstar Mortgage) could acquire the property with its large equity at a bargain basement price.”
More here…
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They sent us foreclosure papers after never returning calls about a modification. 2 months later we are going in foreclosure because they ignored a modification? How is this ok! I tell you what we will go to the news and send letters to congress. We aren’t going quietly
I believe I have been a victim of Nationstar as well. I tried several times to apply for a modification. I must have received 10 different answers as to why I wouldn’t qualify. Then they wouldn’t return calls or emails. They offered me a forbearance agreement in the amount of 5,000/month for 6 months!! I only owed 62k on my home. They had it appraised for far more. Then just bought it back for 52k!!! How is this even possible??? Now I have no home and I am in disbelief they are even allowed to practice this way!!
Same thing happened to us
They were up to the same thing with us as they did to the people in this article. We paid over 10k to reinstate I guess tomorrow at the Auction I’ll see what they try to do. We Will have off duty police with us with on duty ready to arrest anyone bidding on our house because lets face it it’s the mortgage company not individuals. We had 3 houses on our street abandoned for 7+ years those gotta be cheaper lol but can’t control when things go to foreclosure or uauction that they don’t own…