I had a Mortgage with Aurora Mortgage since 2007. It was a 5 year interest only arm. This year the arm payment changed from $460.00 to $946.00. So I applied for a Loan Modification. After going through the test period the Loan Mod was accepted by Aurora Mortgage. They sent the contract which I signed in front of a Notary and immediately sent it back. Made payments as normal New payment was $663.00 at 2.?% and they lowered my loan amount from $179,000.00 to $152,000.00. This new contract was perfect for my income. A couple of weeks later I was notified by Nationstar Mortgage that Aurora Mortgage sold them my loan. When Aurora Mortgage did the Loan Mod they rolled in all fees accrued into the new loan. Nationstar began calling me 3 – 4 times a day, every day for a couple of months demanding that I pay the fees ($2800.00). I explained that they were in the new Loan Mod and that I did no longer owed them. Nationstar explained that the y did not have my Loan papers yet and that they would not accept the new Loan Mod. They told me that they wanted me to do a new Loan Mod with them. Told them that they were wrong and that they had to accept the current Loan Mod. Every call was an argument, so I stopped answering the phone.
I received a single sheet letter from Nationstar stating that they had redone my Loan Mod telling me that the new payment would be $223.00 per month and that they changed the loan amount from $152,000.00 back to $179,000.00, and that the interest rate went up to 3.?%, and the final blow was that it was interest only for 30 years. This was not acceptable.
Consumer Action Taken:
I went out on the web to get attorney help. A company by the name of Preferred Law PLLC in Sandy, Utah. They told me that their attorneys could help me and they had never heard of the way Nationstar was handling my issue. They told me that they would help and it would cost $4400.00. I explained that I could not make payment to them and make mortgage payments at same time. Told them I would not make mortgage payment as Nationstar had not accepted my Loan Mod. Was not sure whether payments would be accepted without it. So far I have paid Preferred Law $2000.00 and have not made 4 mortgage payments. In our conversation regarding what they would do, I told them I wanted them to have Nationstar roll the missed payments to the end of the loan, pay the fees that Preferred Law is charging me and reimburse me for the money I have paid them. While browsing around the web on December 8, 2012 I found a website that inferred that Preferred Law is in fact not a Law Firm but a debt consolidation company and the people who run it are not attorneys. I am (pardon the expression SCREWED). As of this writing, other than the single page of new loan issue, I have had absolutly no communication from Nationstar. On November 6, 2012, I heard from Preferred Law that Nationstar was going to accept my Aurora Mortgage Loan Mod and the were going to send the paperwork to Preferred Law shortly. Here it is December 9, 2012 and no contact from Nationstar or Preferred Law. Sent 2 emails to Preferred Law yesterday December 8, 2012 asking them to find out what is going on. Supposedly, Jonathan Hanley, and Phillip Hanley were attorneys but I find out that Jonathan Hanley is in fact Jonathan Phillip Hanley. There is no record of them on the Utah Bar Association This just gets better and better. I am at a complete loss as to what to do. I am retired and am on limited fixed income. I also have health issues that are not being helpe d by this situation. Social security and retirement both totaling $1700.00 per month.
Date This Problem Happened: September 14, 2012
State You Live in: Idaho
Age Range: 66+
Total Amount of Fee Paid: $2,000
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Company Name: Preferred Law PLLC
Sandy, Utah 8400
Company Telephone Number: 888-224-6524
Website of Company: preferredlawoffice.com
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