I am a 74 y/o Viet Nam Widow, with a handicapped 13 y/o daughter still at home. I bought a home in Dec. 2010, in Marlin, TX.
BOA apparently sold my Mtge to NationStar. While the LAW REQUIRES BOA to notify me at least 15 days prior to selling or transferring, and NationStar is required to notify me no more than 15 days AFTER the change, I was never notified. My Mtge. pmt was "Auto-Paid" from my BOA cking. Acct. on 1st of each month. For 4 1/2 years everything was fine. Then on May 30, 2014, I get a notice from NationStar (never heard of them), saying my May 1st pmt. is in DEFAULT! And they were gong to begin foreclosure
if I did not pay them $1025.58 by May 31st (the next day which was Sun. AND Memorial Day weekend!) Note: My payment was only $462.62 per month! And there was over $1,000 in my account, waiting for the Auto-Pay.
On June 2nd, Tues., I called NationStar to inquire as to who they were and what was going on. I got NO where! They were uncooperative and demanded I pay over the phone or else! When I asked why I was not notified as to the change, I was told that , "We do not send out welcome letters to everyone." When I told him it was NOT an OPTION, and read the LAW to him, he just repeated what he had said. I got the same response from BOA.
At first it appeared the change took place on May 2nd, due to BOA stating the reason they did not pull the $462.62 payment on May 1st, was ". . because we were going to sell the note the next day." Like that has anything to do with it. They owned on May 1st, they had agreed to take the pmt. out and apply it on the 1st. day of EVERY month. Who cares what they WERE going to do later on?
I had no way to know to change pmt. arrangements if no one told me! I changed the Auto-Pay to NationStar, authorizing them to take ONE payment for $462.62 for the May 1st. pmt. that BOA failed to take care of, and then a second $462.62 pmt. for the now due June pmt.
I did not hear anything more, until July 28th, another form letter- Your JULY 1st pmt. is in DEFAULT, and if you do not pay $1,025.58 in 3 days we will begin foreclosure! In less than 8 wks. they got it messed up again! I went online, and scrolled up too far, and I saw that in JUNE, they not only did NOT remove the exact amounts I authorized, (2 separate pmts. of $462.62), they removed one payment of $1,025.58 ($100.34 more that the $925.24 it would have been for TWO $462.62 pmts!)
I live on my retirement, and I do not have an extra $100+ to let someone STEAL from me! So I had to contest the bulk pm. and sent NationStar TWO checks - #751 for May and #752 for June. I received a letter from BOA on June 16th showing the "Escrow account from "May 2014 up to JUNE 2015, when you either paid off your loan
or changed servicers." That means the change occurred in JUNE, not MAY 2nd! And since I did not pay it off, that means the change was in the servicer . . .?
This does not meet the requirements of "Notification". I still as of this date (8-08-26-2015) have not been notified as to WHAT change was mage and where to send the payment! In examining the Escrow info, I saw that BOA had never adjusted the amount put into it each month, to ensure there would be enough at years end to pay the Ins. and Tax.
So when I sent the two checks to NationStar for May and June, I upped the amount from $462.62 to $489.70, to take care the shortage. I then scrolled down to July 1st to see if my July pmt. had been made - YES! On July my BOA statement does show that NationStar had received my July 1st pmt.! Yet, on July 28th, I received a letter (dated 7-21) stating they did NOT get it!
Then the NEXT DAY, on July 29th, I receive another letter from NationStar (dated 7-20-15) stating they DID get a $462.62 pmt. (in teeny-tiny print at the very bottom of the page, and showing they applied 100% of the payment to the PRINCIPAL, and nothing to interest, Taxes, or Insurance
! Then they claim they did not get a July 1st pmt.!
Due to my raising my payment, I made out a new Auto-Pay for $489.70 to be paid on the 4th of each month, so I will not be short when it is time to pay Tax and Insurance. Now, on August 4th, NationStar took out my May pmt. for $489.70, as authorized, BUT - they also took an additional $482.69 also on Aug. 4th, which I did not authorize! BOA is giving me trouble in restoring that amount to my account - it left me with only $6.12 to live on for the month of Aug. - and I have a child still at home . . .
I cannot get ANY one in Gov., or elsewhere that will help me! I can not take any more of this! Please someone help me! SUsan