Consumer complaint received 2019-05-14
Company: Specialized Loan Servicing Holdings LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I am facing a foreclosure sale date on XX/XX/XXXX. I have been trying for three years to get my mortgage lender Specialized Loan Servicing to work with me and provide information on the transfer of my loan to their company. My wife and I had this home built and have lived here over 20 years. We are both retired and on fixed incomes and have tried to get SLS to work with us. They have been difficult to deal with and have refused to provide me with requested information. After I got an Attorney involved to obtain an accounting and this information, they offered me a temporary modification, which I accepted and made the payments as agreed. However, when I received the paperwork to make this permanent, they had increased the payment almost {$700.00} a month to start, and it would keep going up over time. I was also shocked that there was a balloon payment of {$250000.00} added to the end of the loan?? My balance is only {$370000.00} and after 30 years of payments there would be an additional $ XXXX added? I asked for paperwork to back up the application of payments and accounting and this has not been provided and instead they have pushed me towards foreclosure. 

As mentioned, my wife and I have lived her 20 plus years. We bought the land, financed the construction and hoped to spend the rest of our days in this property. We have discovered some irregularities and inconsistencies in our mortgage paperwork and have requested on multiple occasions that SLS provide us with documentation, but we have been blocked at every turn. We were coerced into refinancing into a predatory loan while XXXX XXXX XXXX held the rights to our loan and the interest rate of 16.9 % was not affordable for us. This coincided with the recession and unemployment and my eventual retirement after 30 years with the postal service. We were eventually able to get a loan modification and get back on track. However, the loan was transferred to SLS on XX/XX/2015. At that time, I requested certain documentation relating to my loan payment history and documents from origination. I received a letter from them stating that this information had been sent to me, but that statement was false -- I never received this information. 

My wife and I are both retired and on fixed income. My sister stays with us as well and helps with the bills. We have sufficient income to afford a fair and reasonable loan modification. However, we are still requesting the information relating to the transfer of our account -- specifically 1. Copy of the promissory note 2. Copy of the Deed of Trust 3.  Welcome letter from your company verifying the service transfer and the new role of SLS in the process 4. Escrow accounting and analysis 5. Payment history with transaction codes 6. Pay-off information 7. Signed modification paperwork from previous agreements 8. Copy of the Deed of Trust that has been transferred to SLS 9. Copy of the Pooling and Servicing agreement for SLS and investor We want to resolve this matter but need Specialized Loan Servicing to work with us.

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