Mortgage -- Struggling to pay mortgage -- Complaint #4874688
Complaint Overview
Complaint ID: 4874688
Company: Specialized Loan Servicing Holdings LLC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage
State: California
ZIP Code: 92117
Date Received: 2021-11-03T12:00:00-05:00
Date Sent to Company: 2021-11-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We have received a NOD from Loan servicing. For years I Have communicated with them to give me an affordable modification payment but their demands were more than we can afford. Most times, when I plead with them for an affordable payment structure or modification, they would only offer me a short sale payoff option. We built our home in XXXX and raised our three children in this home. Due to COVID, our self-employed business became bankrupt. Unemployment was not enough to cover our first mortgage so we were on a forbearance plan until XX/XX/XXXX. Now we are up to date with the 1st mortgage but the second by SLS refused to give us an affordable payment and threaten to foreclose on our home. SLS refused to give me a modification when I contacted them in XX/XX/XXXX to get a worked modification. XXXX ID XXXX, my ( appointed relationship manager ) said, I MUST GO TO HUD FOR ASSISTANCE, as SLS can not help me. They also send mail stating that I should contact HUD for assistance. I did contact XXXX ( HUD program ) and submitted all required documents for modification. Five days later, SLS rejected the modification. XXXX XXXX told XXXX that SLS would only accept the offered settlement they sent in XX/XX/XXXX ( see attachments ) their demands are beyond our ability as their increased interest rates have accumulated to over {$210000.00}. The original loan is {$180000.00} with ( XXXX XXXX XXXX ) XX/XX/XXXX XXXX the real-estate market crashed and we lost our jobs and investments In XXXX, we were able to get a modification with adjustable rate SLS became the new servicer in XXXX
Frequently Asked Questions
What is Complaint #4874688 about?
Complaint #4874688 was filed against Specialized Loan Servicing Holdings LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2021-11-03T12:00:00-05:00.
How did Specialized Loan Servicing Holdings LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Specialized Loan Servicing Holdings LLC?
Yes, visit the Specialized Loan Servicing Holdings LLC company profile at readthecomplaint.com/company/specialized-loan-servicing-holdings-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.