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Sent to a friend[11428] Nationstar Mortgage - Unfair business practice - closing fees
My daughter purchased a home out of foreclosure. The bank that owned the property was NATIONSTAR MORTGAGE out of Texas. My daughter and her fiancée made an offer for the full asking price with no conditions or inspections. They accepted the house "AS IS". 12 weeks later they are still trying to get the final closing paper work from Nation Star. 1 day before the scheduled closing they still had not provide all of the required documents to constitute an accepted sales contract. This is after my daughter was forced to sign an addendum agreeing to pay $195 a day for each day the closing was delayed. Because we did not have all of the paper work back from Nationstar the Rural Housing department could not process the final loan approval. At the end of the day prior to the schedule closing we received the final paper work but it was too late to close the next day. We had to delay a week while the final loan approval was process. At closing one week later, they refused to sign the closing papers unless we paid a $1095 late fee. It was their fault the closing was delayed. Our lender has negotiated a reduced late fee, but we still had to pay one. They told us they had a back up offer on the table and we either paid or forget the deal and they would keep the earnest money. We have our fingers crossed that now that we have agreed to pay this extortion money we can complete the closing.Posted 2 years ago
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- Update - My daughter received the final paper work and the closing is official. I had mis-stated the fee they wanted to charge. it was $150/day, not $195/day. They wanted a total of $1050. We negotiated a reduced fee of $300.
Posted 2 years agoReport
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