Consumer complaint received 2020-01-11
Company: Specialized Loan Servicing Holdings LLC
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
I received a phone call on XX/XX/XXXX from SLS Specialized Loan Servicing llc Specialized Loan Servicing LLC XXXX. XXXX XXXX XXXX, CO XXXX XXXXcustomer care Telling me I owed them over XXXX on my equity line of credit. We didi a loan modification 7 years ago and we thought it was all combined into one as no one ( XXXX  XXXX XXXX ) never said anything to us about the equity line of credit. They said they had mailed a letter back in XX/XX/XXXX. I told them I never got the letter and never received any bills or phone calls from them until today. Needless to say I found out from HUD that XXXX  XXXX XXXX had sold our loan to a debt collector listed above. I was stunned. as we had had no contact for like 7 years. no 1098 forms nothing.. Right after the phone call I received a demand letter or they would foreclose in XX/XX/XXXX. They offered us a loan modification and required {$9600.00} down by XX/XX/XXXX. along with the 3 trial period payments we would have to make for XXXX, XXXX XXXX. Which we did. {$330.00}. They mailed us a contract to sign, notarize and mail back which we did and it said our first payment was due XX/XX/XXXX which we sent on XX/XX/XXXX. We were finally able to set up an online acct to which I tried to access our statements and could not. They emailed me a form because of our bankruptcy back in XXXX which allowed them to send us statements. ( WE get statements from our mortgage with no problem ). 1 month goes by and no statement. I called as I had received an email XX/XX/XXXX that they had received my email and it was under review. No one called or emailed me back saying the attachment was not with the email. XX/XX/XXXX I called requesting my statements again. Again the form was emailed and we both signed it and attached it to an email and sent it back on XX/XX/XXXX. I called a few days later to verify they did have it, yes it's in the system and it will take a week to get a statement generated. I was told I would only gets statements from the time the letter was signed. I said no way I want statements from the beginning of the loan as nothing is showing my down payment, principal or interest being paid. The online account shows only {$59000.00} balance and yet our loan papers {$80000.00}. The loan modification is like 11 pages all written out in paragraphs and very confusing. They use the terms 480 terms left and yet it is suppose to have a balloon payment XX/XX/XXXX. I want to have statements as i have no idea what my current balance is or how much of my payment is going to interest or principal. Is the lender not required to give a client monthly statements showing their payments? I also called XX/XX/XXXX requesting statements again and so far I have not received any in the mail or online. The account # XXXX for XXXX XXXX XXXX XXXX XXXX XXXX at XXXX XXXX XXXX XXXX XXXX CA XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation