Nationstar from BOA Mod review did not transfer

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
Prior to being transferredfrom BOA to Nationstar on 6/5/13. I was approved for temp mod with BOA due to adivorce (reduced income) I was late paying my last trial payment (Dec, Jan,Feb) and was denied a perm mod i did not make any more payments because i wasadvised to re-apply well i was giving the run around and eventually contactedBOA executive offices and was under review up until my point of contact told mei was being transferred to Nationstar. I was told everything would pick back upwell it didn't and I was forced to reapply with Nationstar. I have sent all therequested docs for another mod and as of today Nationstar is saying I qualifyfor the HAMP even though I purchased my home in August 2010 and they receivedmy title back now there just waiting on the underwriting department for thelast review. I am 11 payments behind I live in TX and I'm trying to avoidforeclosure. Can anyone tell me if my mod request is promising or do I need tostart filing for BK?<o:p></o>
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Prior to being transferredfrom BOA to Nationstar on 6/5/13. I was approved for temp mod with BOA due to adivorce (reduced income) I was late paying my last trial payment (Dec, Jan,Feb) and was denied a perm mod i did not make any more payments because i wasadvised to re-apply well i was giving the run around and eventually contactedBOA executive offices and was under review up until my point of contact told mei was being transferred to Nationstar. I was told everything would pick back upwell it didn't and I was forced to reapply with Nationstar. I have sent all therequested docs for another mod and as of today Nationstar is saying I qualifyfor the HAMP even though I purchased my home in August 2010 and they receivedmy title back now there just waiting on the underwriting department for thelast review. I am 11 payments behind I live in TX and I'm trying to avoidforeclosure. Can anyone tell me if my mod request is promising or do I need tostart filing for BK?>​
Welcome and thanks for joining the community.

You'll receive plenty of notice before a foreclosure date is scheduled so I would not be considering Bk at this point, that should always be used as a LAST resort to help temporarily avoid foreclosure. At this time you need to make it clear to them that your loan was originated after the January 2009 requirement so you'll not be eligible for a mod under HAMP. It would be unfortunate if they wasted weeks processing your account for this program when time is of the essence. The foreclosure process has been known to be quite speedy in your state compared to others..

Nationstar discusses loans transferred form BofA on their site here:

https://www.nationstarmtg.com/CustomerCenter/BankOfAmerica.aspx#hardship_assistance

If you have previously submitted a request for the Home Affordable Modification Program (HAMP) to Bank of America, we will receive your documents within 30 days and will continue with the process once we have access to your loan information. You can check the status of your modification on-line after you have signed in by selecting the "Check My Status" option under the "My Account" navigation bar, or you may contact us at 888-480-2432.
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
Thank you for your quick response. I will contact them and let them know, and I will keep you guys updated
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
No problem, we'll do all we can to help you through this grueling process.
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
I spoke to a rep and she advised me that I have nothing to worry about regarding getting an approval. She said the title was in house and the stage were I am is further than alot of customers requesting assistance again she confirmed the title was received and it normally takes the underwriting department within 2 weeks to figure out the trial (4- months) payments. She stated as long as I satisfy all of the trial payments on time I will receive a permanent mod, she also provided me with her direct line to call back next week. Prior to calling I filed a complaint to expediate results. Should I believe the rep because she sounded pretty convincing that I have nothing to worry about, but nothing is set in stone.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
she confirmed the title was received and it normally takes the underwriting department within 2 weeks to figure out the trial (4- months) payments. She stated as long as I satisfy all of the trial payments on time I will receive a permanent mod, she also provided me with her direct line to call back next week. Prior to calling I filed a complaint to expediate results. Should I believe the rep because she sounded pretty convincing that I have nothing to worry about, but nothing is set in stone.
That's great news and she sounds very knowledgeable. Most reps are leery when giving out their direct contact information so that's definitely a good sign! Be persistent and follow up with her at least once a week.

Good luck!
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
UPDATE: I was approved for modification and my payments were lowered about $200! I am so excited. On their website it said I was approved, but no payment info was revealed, so I called and spoke with a rep, which confirmed I also asked if I would received the info in writing and she said yes. So I will believe it once I receive in writing. Thanks.
 

I'mSickOfThis

LoanSafe Member
Aug 14, 2009
282
2
18
Florida
UPDATE: I was approved for modification and my payments were lowered about $200! I am so excited. On their website it said I was approved, but no payment info was revealed, so I called and spoke with a rep, which confirmed I also asked if I would received the info in writing and she said yes. So I will believe it once I receive in writing. Thanks.
Hi and congratulations!
Where on the website did it say you were approved? Under the modification area all mine says is "Your modification is being prepared and you should be receiving paperwork in about 10 days". Is that what yours said prior to says "You're approved". Thanks. I'm so jumpy about this last stage
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
Thanks I'msickofthis...Prior to the approval stamp. It said your modification is under review. They tell you to call once a week, but I was jumpy as well sometimes called twice a day, but you just need to get that one rep that will spill all the beans it took me calling a whole month to get it, but being persistant is what you have to do with them. But let me know how everything goes and goodluck.
 

I'mSickOfThis

LoanSafe Member
Aug 14, 2009
282
2
18
Florida
Thanks I'msickofthis...Prior to the approval stamp. It said your modification is under review. They tell you to call once a week, but I was jumpy as well sometimes called twice a day, but you just need to get that one rep that will spill all the beans it took me calling a whole month to get it, but being persistant is what you have to do with them. But let me know how everything goes and goodluck.
Thanks so much for your reply. I'm on pins and needles waiting for this. I'm going to call them right after work today.
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
I have yet to receive a confirmation of my trial plan that shows my payments would be reduced by $200 (as I was verbally told) However I received a reply from the consumer protection board that Nationstar replied and the letter states that the trial period is approved, but they will carry out the amount that BOA approved which is $200 more than what I was quoted. Is there any way to get the trial payments down to what I was quoted, the first payment due is August 1st. I don't think its right they quote me one number and send another I can't afford it.
 

I'mSickOfThis

LoanSafe Member
Aug 14, 2009
282
2
18
Florida
I have yet to receive a confirmation of my trial plan that shows my payments would be reduced by $200 (as I was verbally told) However I received a reply from the consumer protection board that Nationstar replied and the letter states that the trial period is approved, but they will carry out the amount that BOA approved which is $200 more than what I was quoted. Is there any way to get the trial payments down to what I was quoted, the first payment due is August 1st. I don't think its right they quote me one number and send another I can't afford it.
Hi
I'm really sorry to hear that. So if they're not going to reduce your payments by 200.00, what's the trial for? Maybe the Consumer Protection Board got the numbers wrong. Just wait to see what's on paper. I'm am so sick of this!
 
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crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
My original payments with BOA was $1168, my trial payments reduced by $80! I re-applied with NationStar they quoted me $927.40 for the new trial payments, but on the letter I downloaded from the Consumer Bureau shows the same trial payments from BOA dated 7/26 so I'm assuming I will get that letter soon. I was anticipating the $927.40 and to change it under a week its due is so wrong. I have filed a BBB complaint and I will be contacting OOP on Monday to see if they can re-evaluate the amount because I can't afford that much with one income.
 

crystalspe

LoanSafe Member
Jun 18, 2013
9
0
0
I spoke tosomeone from OOP and he assured me the $927.40 was the amount that I needed topay. I advised him of the response given to the Consumer Bureau and he placedme on hold and re-confirmed with a manager of the trial payment amount. He thenadvised I can contact him directly to make the trial payments over the phonefor FREE. But they still refuse to provide written confirmation, he statedafter completing the trial payments the mod would become permanent and I willreceive the final written docs...I don’t know what to believe anymore...pleasehelp!<o:p></o:p>