After a successful HAMP loan modification, we received our first monthly statement dated 6/4/12 which shows unapplied funds were used to make first modified payment due 7/1/12. After reviewing their accounting, on 6/5/13 those same unapplied funds were moved to escrow without advising us. While I believe this is an accounting error and manipulation of remaining funds, Nationstar will not acknowledge credit per the statement sent to us. Is there anything we can do since Nationstar is now saying we are on rolling 30 day, putting payments in suspense, reporting incorrectly to bureaus and will not discuss its account errors. Nationstar acquired debt while loan was in default with CitiMortgage. Is there anything we can do? Thank you!
Estate Planning Attorney
This is a common error I have encountered with loan servicers. Sometimes the only way to get their attention is do what my colleague suggested and file a lawsuit. You may also just employ an attorney to send a letter on your behalf and that may get the ball rolling.
The Servicers appear to go by their version of the Golden Rule; he who has the gold rules. If you are confident in your numbers, you can file a lawsuit for Declaratory Relief asking the Court to Order them to fix their accounting errors and correct the public reporting. You just really need to make sure you are correct on the accounting because more likely than not the prevailing party will get an award of attorneys fees.
Kevin A. Spainhour, Esq. Spainhour Law Group www.slglawyer.com.