Consumer complaint received 2019-07-03
Company: Specialized Loan Servicing Holdings LLC
State: OR
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
We purchased this home, newly built, in XX/XX/XXXX, for {$170000.00}. 
We refinanced in XX/XX/XXXX to pay for some emergency medical expenses for my husband and my mothers funeral, bringing the loan up to {$210000.00}. 

On XX/XX/XXXX, my husband and I refinanced our home through XXXX XXXX XXXX/ XXXX XXXX XXXX. We borrowed another {$30000.00} for some landscaping investment and to pay off some debt. Refinance loans were being offered all over at that time, and unfortunately we bought into the hype. We actually never received any paperwork or documents on this loan, only a check and a place to submit our payments. We were both working full time and had some serious debt to take care of so put off the inquiries into the paperwork " for a later time ''. 
About a year later, XXXX sold our loan to XXXX XXXX XXXX. It was then that we were informed that our loan was now for {$300000.00}. We were shocked. The amount owed before the refi with XXXX XXXX XXXX was {$210000.00}. We only borrowed {$30000.00} against the equity. If the loan company added even another {$30000.00} for fees or whatever, our loan would still be under {$280000.00}! We inquired, and inquired, and inquired, and were never given the original loan docs ( apparently they were lost ), and I am still asking. 
In XX/XX/XXXX, we were forced to obtain a modification on the loan because the monthly payment had gone up to $ XXXX/mo which we simply could not continue to afford. We had been paying this for 6 years. That is almost XXXX. More than what the original loan for the house was. And still had no answers as to why the loan was XXXX ... We applied for and qualified for a HARP modification at that time. By this time, my husband was ill and in need of XXXX XXXX XXXX. His XXXX was in XX/XX/XXXX. He suffered horribly for the next 8 months and finally succumbed on XX/XX/XXXX. In the meantime I have been paying and paying on the modification. Even though I have never seen the original loan documents I had signed with " XXXX XXXX XXXX  '' in XX/XX/XXXX ... I have brought the {$300000.00} balance down to {$270000.00} with a lot of sacrifice and hard work. 
Select Portfolio Servicing, now called Specialized Loan Servicing are the collection agents for this loan. In XX/XX/XXXX, I was notified by SLS that my monthly payment was going up to $ XXXX/mo, which as a retired widow, I could not possibly afford. My daughter and son-in-law have been helping me with the payment since XX/XX/XXXX. I applied for and received a new loan modification, but it is unbelievable! I am now to pay $ XXXX/mo for 36 years! That is over {$500000.00} for the life of the loan. AND at the end they want a balloon payment of {$180000.00}!! This is insane!!! I have already paid more that what I should have for this loan, and for the house and property! Now it is like I am starting all over again!! How can they get away with this? Who regulates these thieves?? What can I do? Can you help me? 
Sincerely, and tearfully, Thank you for any help you can give me. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Oregon XXXX XXXX -cell

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