Mr. Cooper Foreclosure Defense in New Jersey

What to expect on a former Mr. Cooper loan

Your loan number and loan terms did not change with the acquisition, and a foreclosure case filed in the name of Nationstar continues with the current servicer. These loans are usually serviced for someone else, so the loss mitigation options depend on the investor behind your loan: Fannie Mae or Freddie Mac (Flex Modification), FHA (its loss mitigation waterfall including partial claims), VA, or a private securitized trust with its own rules. Knowing the investor is the first step in any modification, and David obtains it in writing.

Because so many of these loans were transferred between servicers, and have now changed hands again, the payment history is a frequent source of disputes. Servicing transfers are where escrow errors, misapplied payments, and lost modification agreements most often occur, and federal rules give you the right to demand the file and correct the record.

How David handles a Mr. Cooper foreclosure

Every Mr. Cooper case starts the same way: a complete review of your loan history, every notice you received, and the servicing file we request under federal rules. That review often turns up misapplied payments, fee errors, or a defective Notice of Intention to Foreclose, and each one is leverage.

From there David opens the loss mitigation process with a complete application, requests the court's Foreclosure Mediation Program if you are an owner-occupant within 60 days of service, and files the answer and any adjournments so the sheriff's sale clock stops running while Mr. Cooper reviews your options. If Mr. Cooper violates servicing rules during that review, David raises it with the court.

Your rights with any mortgage servicer

Federal servicing rules under RESPA (12 C.F.R. Part 1024) apply to every servicer named on this site:

• A servicer generally cannot make the first foreclosure filing until you are more than 120 days delinquent.
• It must acknowledge a loss mitigation application within 5 business days and tell you what is missing.
• It may not move for judgment or conduct a sale while a complete application received more than 37 days before the sale is under review ("dual tracking").
• You can send a written Notice of Error or Request for Information and the servicer must respond, generally within 30 business days.
• In New Jersey, the Fair Foreclosure Act adds a 30-day Notice of Intention to Foreclose before suit and a right to cure up to final judgment.