Mortgage -- Trouble during payment process -- Complaint #5273970
Complaint Overview
Complaint ID: 5273970
Company: Specialized Loan Servicing Holdings LLC
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: Ohio
ZIP Code: 45231
Date Received: 2022-03-01T12:00:00-05:00
Date Sent to Company: 2022-03-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX of XXXX, I had took out a loan in the amount of {$15000.00} to consolidate by credit card debt which I was told that this would not be considered a 2nd mortgage that my home will only be used for collateral with XXXX XXXX XXXX at that time I signed a binding security agreement. for 15yrs. of 180payments in the amount of {$210.00} and 1 payment of {$260.00} with a 14.93 % interest rate total amount will be paid back {$38000.00}. XXXX has since sold the loan to Specialized Loan Services ( SLS ). I was recently sent a letter stating that my original loan is reaching its maturity date and I still owe {$9400.00} on this loan. I was told that I could try to refinance the amount or send the full unpaid principal balance XXXX by XX/XX/XXXX. As of today, I have fully paid my obligation to XXXX Specialized loan service. there is not indication on my original loan that I will be charged an additional {$9400.00} to close this loan out. I was told by agent from Specialized loan services that back in 2007when I took my loan out, companies were approving loans with low payments for affordability and my payments was not fulling my obligations, only a little over {$50.00} was going towards the principle balance and the remainder was going towards the interest since recently when they increased the amount from $ XXXX {$95.00} to the principle as of today, I have paid {$38.00}, XXXX I have fulfilled my debt of {$15000.00} balance. This type of act is illegal an therefore I do not feel I owe Specialized loan services any additional funds. I'm willing to take this action to Supreme court or file a class action law suite so no other consumer can be victimize with this unfair act. I'm requesting that my last payment of {$210.00} XX/XX/XXXX will consider this loan paid in full with a satisfactory agreement. I have attached all supporting documents.
Frequently Asked Questions
What is Complaint #5273970 about?
Complaint #5273970 was filed against Specialized Loan Servicing Holdings LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-01T12:00:00-05:00.
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.