Mortgage -- Struggling to pay mortgage -- Complaint #5638917
Complaint Overview
Complaint ID: 5638917
Company: Specialized Loan Servicing Holdings LLC
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Struggling to pay mortgage
State: Massachusetts
ZIP Code: XXXXX
Date Received: 2022-06-06T12:00:00-05:00
Date Sent to Company: 2022-06-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased this home in XXXX, the loans I obtained were predatory loans. My 2 loans XX/XX/XXXX were " sold '' separately. After much struggles, I was able to modify my first mortgage in XXXX but due to many due to many factors, including my health, and a serious case of XXXX XXXXXXXX, loss of income, etc. I defaulted in that mortgage. Prior to the sale of the mortgages, I filed bankruptcy while trying to save my home and all collections stopped. Specialized Loan Servicing ( SLS ), who is the servicer for my 2d mortgage has been dormant on and off for a long time. Since I was not able to workout a new modification with my first mortgage, I was working on a Deed In Lieu of foreclosure. My second mortgage agreed to settle for {$3000.00}. Unfortunately, my first mortgage did not move through with the process and the Deed in lieu was cancelled. They did not contact me after that. Even though I still had not been able to workout anything with my first mortgage, I contacted SLS for a modification or assistance at the end of XXXX, but they denied me any type of modification and only approved me for a short sale. Again, after that, they were dormant for a long time, but and suddenly around XXXX this year, they sent me a letter, stating that my loan was due in full on XX/XX/XXXX. At this time, my situation has not changed. My first mortgage has an active foreclosure process. I don't have the financial means to pay this predatory loan. I sent them a letter and offered them the same {$3000.00} that they had accepted before in order to settle this account. I explained to them that at this time, I have an active foreclosure process with my first mortgage and they sent me an email with a letter saying that that they will not take less that {$45000.00} paid in full before XX/XX/XXXX.
Frequently Asked Questions
What is Complaint #5638917 about?
Complaint #5638917 was filed against Specialized Loan Servicing Holdings LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2022-06-06T12:00:00-05:00.
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.