I have been trying to apply for a modification since February of 2016. I received a modification from First Horizon for five years during 2006-2007 mortgage crisis.
I think First Horizon then sold my loan to Nationstar. My home has not appreciated, like many other home have not, so I tried applying for a modification for the life of the loan in February of 2015. It was difficult for me to determine if I had a Fannie Mae or Freddie Mac loan. I also learned that Nationstar is only the servicer of my convention loan.
I still have not been able to determine which investment group hold my loan. Why is this a secret.
I was denied on the February loan due to my income. They did not take in to account my bills or my NET INCOME which is how I really pay my bills.
I redid the paperwork, explaining myself better in June of 2016. I waited through July 2016 and then was informed they did not receive any of the over 20 documents I scanned and emailed. I submitted the paperwork again in August. I did hear anything back from Nationstar until October 13th.
The sent modification papers with basically the same payment I explained was too high. They also DID NOT explain what the payments would change to in 1-2 years, then they would not tell me what the payment would be after 23 years. What??? They have been pressuring me to sign this document.
I have called my state's Attorney General for some help. I informed Nationstar that I have not signed, because I need more information. They (Ashley) said that I might not be able to have a modification now, because I waited to get more information. This is my daughter's only home.
I am a single mother. This is my only asset. I have improved this property.
This is stressing me out and keeping me awake at night. I built a modest home, and I am more than willing to pay for it, but I just need a break on the interest rate.
Reason of review: Poor customer service.