Nationstar Mortgage Mortgage Complaint

Nationstar Mortgage Mortgage department,

Other mortgage Settlement process and costs Maryland

Entered into a short sale 1 month before the seller declared bankruptcy. A $170000.00 judgement from default of a business loan. A third lien holder was assigned to the home. After the dust settled and with consent of the sellers we provided a HUD-1 to the bankruptcy trustee to move forward with the sale of the house. The cost of the house $800000.00. The HUD-1 represented the payoff to - and - mortgage holders and $25000.00. for removal of the lien from the judgment. This appeared to allow the short sale to move forward. Because of the HUD-1 showed funds that would be available for her creditors. The trustee petition the court to hire an attorney, then used our HUD-1 to file an adversary case ( - ) to remove the judgment. After nine months we expected a revised HUD-1 with the trustee as the third party to develop and move forward with the short sale. To everybody 's surprise Nationstar the senior lien holder changed the price of the house and increased it by $90000.00 which was way out of align with the value of the other homes. Nationstar has around $750000.00 payoff. You could ask yourself why does


the house was bought buy the previous seller at $1000000.00. the bank looks at its book value and compare is liability. They are $250000.00 into the money. Immediately this property became a valuable asset to their portfolio. Nationstar uses advances through securitization of servicing agreements. Unlike - and other banks Nationstar business is building a portfolio of performing assets. Nationstar had acquired a lot of properties in the last 2 years. The regulatory agencies have n't caught up. As far as this short sale is concerned Nationstar over stepped by misrepresenting to the Bankruptcy court. What 's in it for me. I am half of the HUD-1 the buyer. Half of that government document is me and Nationstar used it to remove a judgment for their own financial gain. I just wanted to buy the house.