Consumer complaint received 2022-07-09
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC (NY)

I am contacting you regarding my home loan mortgage servicing company Specialized Loan Servicing ( SLS, LLC ), which I believe is engaging in deceptive practices to force my home into foreclosure. I had been in a forbearance agreement ( details of which are outlined below ) since XX/XX/XXXX, for which I applied and had been granted and extension several times. The forbearance agreement was not extended when I applied in XX/XX/XXXX, but I was not notified that the extension had not been approved. Instead, I received a notification in late XXXX, XXXX informing me that my home was in foreclosure. When I called to discuss, ask why I was never notified that my forbearance extension was not granted, and explain that I was able to begin making payments again, I was told the payments would not be accepted unless I made a lump sum of all payments that were not made during the forbearance period, which totaled more than {$30000.00}. I have been contacting this company and submitting their required documentation for mortgage assistance since XXXX, XXXX to no avail. I have submitted required documentation - including their XXXX application, a 710 form, an employment offer letter and a hardship letter - on at least three separate occasions via email per their request, yet I continue to receive the run around. I have asked for a clear explanation of exactly which information was missing from my application, and have been given conflicting, unclear responses from two separately-assigned customer resolution representatives about what documentation was still needed for my mortgage assistance application to be reviewed. For example, one representative told me that they had received all the required documentation, but that they did not accept the electronic signature that I had provided. I was told to print out the documents, provide a " wet signature, '' and resubmit the documentation via email, which I did. I was not notified that the signed, resubmitted documents had not been accepted until I received a letter dated XX/XX/XXXX informing me that my request for mortgage assistance application was closed because I had not provided all the necessary documentation for review, and that I would need to submit a " new '' application. Meanwhile, they are moving forward with foreclosure, I am terrified of losing my home, and am requesting assistance and review of my case by CFPB. 

Background : In XX/XX/XXXX, I entered into a forbearance agreement to temporarily stop making mortgage payments. Like millions of Americans, I was affected by the XXXX pandemic I was unemployed and, at that time, receiving unemployment benefits. SLS explained that at the end of the forbearance period, they would review my situation and, if my financial status had not changed, I could apply for the terms to be extended. I applied and was granted an extension to this forbearance agreement ( dates should be in my records ). As was explained to me each time by an SLS account representative via telephone, I would not have to make a lump sum of payment at the end of the forbearance agreement and that there would be no penalty, nor would my loan status information be forwarded to credit reporting agencies. I was also told that before the forbearance period expired, I would be contacting to discuss next options. I was told that my loan would be restructured, and that the payments I did not make during the forbearance period would be put on the back end of the loan. 

As I had done from XX/XX/XXXX, I again applied for the forbearance agreement to be extended in XX/XX/XXXX via telephone. I did this without ever receiving a notice to discuss next steps as the forbearance period was ending. As had been done each time, I was told by the SLS rep that they had all the information they needed and they would contact me if the extension was not approved. I did not hear from SLS again until I received a letter at the end of XX/XX/XXXX, stating that my loan was delinquent and that my account had been forwarded to the foreclosure department. 

Upon receipt of the letter, I called XXXX to discuss how this situation happened, why I was not notified that the forbearance extension I'd applied for in XX/XX/XXXX had not bee granted, the status of the loan, and what could be done to make my account current and stay in my home. I was told that my XX/XX/XXXX forbearance extension application had not been approved ( I had not received notification from XXXX about this development prior to this telephone conversation ) and that I needed to make a lump sum payment of over {$30000.00} ( past mortgage payments ) to bring my account current. I explained that this was not the terms I understood and agreed to when forbearance options were provided by XXXX, and that I did not have all the money to repay at one time. 

I contracted and have recovered from XXXX, and I am terrified of losing my home. I have also started a new job and am able to resume making mortgage payments in the amount of {$1900.00} ( my monthly amount before the forbearance agreement ), but I can not make a lump sum payment to bring my account current as XXXX demands to stop foreclosure proceedings. My initial mortgage loan was with XXXX XXXX. I did not request nor was I given any option or explanation when this loan was transferred to SLS from XXXX XXXX, against which I had filed a previous complaint with your agency. When this loan was transferred, XXXX claimed that their records from XXXX XXXX indicated that I had missed a payment. I did not miss any payments, and XXXX XXXX could not explain exactly which month I had allegedly missed said payment. At that time, XXXX told me that the missed payment in dispute would be put on the back end of my loan. 

I am doing everything possible to avoid foreclosure and stay in my home. However, I do not believe SLS is acting in good faith and I am afraid that I will lose my home. 

Your assistance and review of my case is greatly appreciated. Thank you for your time and consideration. 

Sincerely, XXXX XXXX