Consumer complaint received 2022-06-09
Company: Specialized Loan Servicing Holdings LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
In 2020 I received a call from my Mortgage XXXX XXXX, company stating that if I'm having financial issues related to the COVID 19 pandemic that I could pause my payments for up to 1 year. At this time my business was totally halted from the pandemic so I elected to paused my payment for this time. It is important to know, this program was a no documentation program that they said was issues by the federal government in response to the pandemic. All I had to say was yes pause my payments and they would extend my term by how many months i decided to pause my payments. 

At that time my payments were a little more {$1900.00} dollars a month. Although I had a year to stay in the program, After 5 months my business was back up and running. I called XXXX XXXX and everything went bad. XXXX XXXX representatives explained to me that they made a mistake and give me false information. They stated that they did not 'pause '' payment, and the payments did continue. In fact, when I got out of the program. each payment that I missed would be taxed on to the principle! Meaning each month the Principle of my loan increased by the amount on my mortgage payment. The amount I owed went up by more that {$10000.00}!!! Even more, while disputing the mis-information, I could not get out of the " pause '' because that would trigger the increase principle payment. 

During this time of dispute, I paid my mortgage payments on time. None of the mortgage payment went to my account. For over a year, my payment went into a " non-asset '' account. Over {$20000.00} was place in this account. Although Ive paid the agree time, My XXXX balance is more than {$12000.00} more than what it was 2 years ago and a {$22000.00} payment that is also due. 

To make thing even worst, While we were disputing this issue XXXX XXXX sold my loan to the ABSOLUTE WORST loan servicer possible, Specialize Loan Servicer aka SLS. Although I was paying on time, XXXX XXXX threaten to foreclose on my home. To keep from a foreclosure XXXX XXXX worked out a new 40 year loan payment program which SLS said they would honor. After just 1 payment SLS raised my payment by {$100.00} a month. They stated this was a escrow audit. This is a lie. I know because 1 ) the escrow department stated that they did not do and escrow assessment on my account and 2 ) My insurance actually went down 3 ) My taxes never changed. 

The biggest issue is my the $ XXXX dollars that was not applied to my account from XXXX XXXX was never transferred to SLS. To this day, my SLS account is showing a payment due of $ XXXX I strongly believe that Ive being scammed. At no time have I ever missed and agreed payment. While doing my research Both XXXX XXXX and SLS have a history of defrauding people with deceptive practices. 

Have have all records and many phone recordings to back up my claim. Is this something you can help me with or direct me to someone that can assist in this legal matter. Respectfully,

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