Dennis. Otis@state. Ma.Us
RE: Loan No. 245107470 – Dr. Venkatesan Renugopalakrishnan, Property: 65 Knowlton Circle, Upton, MA 01568
Dear Mr. Otis,
I am in receipt of Nationstar’s Customer Relations officer Aaron Adams’s, Customer Relations Officer, letter dated February 6. According to Aaron Adams, we are behind 20 months. It is true they put us on a payment plan, but not in a friendly way. For example, if our mortgage is $2,300/month in 2004. They increased the interest amount from 7% to 11% which caused the monthly mortgage to go up to $3,700. We pleaded several times to take interest only we are going through a very difficult time. Even I am not making enough money with two jobs, and my husband’s income has steeply declined due to late conferment of endowed Professorship at Harvard. Even after hearing that they did not come to any friendly terms with us. That is the reason we went for Chapter 13 bankruptcy. After filing Chapter 13 the first time, we got a bitter experience of the whole business including trying to reduce our monthly payments.
Nationstar continuously tells us to leave the house to question about affordability. At this time in our economy, it is not a question about if one can afford their home; it is about how a mortgage company can help its customers and citizens of this nation who are all suffering from financial problems. Look at how our President is trying to help our entire economy.in which every human being is going to get benefits whether they are poor or rich, working or business people.
First time when we filed bankruptcy, our monthly payment went very high. So after paying 2 to 4 months, we again fell behind. So they dissolved our bankruptcy. The tragedy in this case is our bankputcy lawyer who can only collect his fees, and help us if we pay all the payments. If we had that capability, we would not have filed bankruptcy in the first place.
It is not like our family is from a bad background, without any education, or any ability to work or earn. My husband, Dr. V. Renugopalakrishnan is a world recognized PhD scientist
http://handheld. Softpedia.com, “Who is Who in Americaâ€
and myself have master degree and many years of experience. But sadly, its our misfortune that we are faced with such difficulties today. After our inability to pay, the first bankruptcy was dissolved by the trustees, and Nationstar once again began asking us for our payments.in that time, I started to do two full time jobs. I began working at a non-profit organization called SMOC, in which I help homeless people and families with any type of issues; advocating people in every possible way to stand on their own feet, protecting young kids from all types of problems. Whenever one of my clients receives subsidized housing or section 8, I feel satisfied. Even in this critical time for my family, I have stabilized and given homes to 10 -15 families, but for my own family, we have to suffer because of mortgage company is not willing to help its customers.
It is hard to work through such problems when they are stemming from the outside and destroying not just my family but our entire nation’s economy. These mortgage companies fail to understand thatt changing our interest rate from an already high 7% to 11% is not only making us unable to pay our mortgage, but also making us homeless.
My request to them is only that they take interest only payments for at least 2 years so in that time my daughter can complete her high school in the present home. Also, attempt to rewrite the loan and allow us to pay a fixed interest rate for 30 years with cramming down or zipping down the market value as required by US Govt in its recent announcements. But they never listened. They told us to clear our entire backlog aggregating to $30,000. We tried several times to pay whatever money we had in our possession, but they only return that money to us and demand us for the full amount. This type of a game this company has been played with us for the past couple of years, and telling us to leave the house instead of helping us.
Again with Nationstar pestering us to leave this house and or pay incredibly large sums of money, we decide to listen to our lawyer again and file chapter 13 once more. But this time, like last, the lawyer completely disappointed us. He did not represent or help us in ANY way nor he did inform us what he actually did. He did not give ANY papers telling us to pay an amount to the trustees, and due to this our bankruptcy got dissolved again.
After all this had passed, we receive a letter that was forwarded to us which stated that our house was being foreclosed on February 10 on February 4. This letter was NOT served either by certified mail, registered mail, courier, sheriff, or any bearer This letter was actually sent to our lawyer 2 weeks before the auction date. We were never informed 30 days prior to the foreclosure or given any certified notice. After this happened, I called my lawyer and discussed with him. He told us that yes, it was true that our house was being foreclosed, and cannot be stopped unless we can pay the mortgage company $30,000 immediately before the foreclosure.
After we received this message, we again called Nationstar, but all they could tell us was that we were behind on our payments by 20 months. It does not help to restate facts when you are trying to solve a problem. They tell us we are behind, yet they do not realize that we are only behind on our payments due to their mistakes and greed or making us pay a total of 18% interest rate. We are willingly to pay up to 40% of our income towards our mortgage, but above that is insanity even if you are the richest man in America.
Then in that letter I faxed to you along with this letter, Nationstar employee Aaron Adams states all our faults in one piece of paper just as if it is all just our mistakes, and nothing on their part. All we are stating is that we are in trouble along with thousands of others Americans, and we require assistance not their higher interest rates and torture. An 18% total interest rate is torture even if we have all the money in the world.
Sir, this is my humble request to you: please, please help me protect my house and save my family, specially my teenage daughter from this trauma. Please don’t just tell us you can’t. You can do it. Our house price is going down already, even if they sold this house, they would be losing a lot of money instead if they allowed us to pay a simple and worthy mortgage payment for his house. We will return their money to them, and live in this house peacefully. We need justice and a home to live in. We don’t to live for free or loose this house, but they do not wish to be reasonable with us.
Please call us. Our Telephone number is: (508) 529-7013
Thank you very much in advance
A sampling of complaints against Nationstar Mortgage based in the Loan Star State of Texas
http://usacomplaints.com/reports/0/258/RipOff0258720.htm
http://www.consumeraffairs.com/finance/nationstar_mortgage.html
http://www.complaints.com/june/24/Nationstar_Mortgage_146430.htm
http://www.my3cents.com/showReview. Cgi? Id=35710
http://usacomplaints.com/complaints/nationstar-mortgage-c109110.html
http://www.complaints.com/november/11/Nationstar_Mortgage_lied_to_us_192333.htm http://usacomplaints.com/498/Nationstar_Mortgage_Texas_Sucks.html
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