Consumer complaint received 2024-07-06
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Shellpoint Partners, LLC (NY)

I am contacting you regarding problems I am having with my new mortgage company Shellpoint. My loan was recently transferred to this company and I had worked out an arrangement with the previous servicer XXXX but Shellpoint refused to honor this and is demanding full reinstatement or a repayment plan with a XXXX figure lump sum down payment. This is not right or fair. I have owned the property on XXXX XXXX in XXXX since XXXX. I live here with my XXXXXXXX XXXX daughter and have a tenant who rents out the other unit in the home. I have a true hardship due to the death of my father last year which led to increased expenses and one month out of work to settle the family affairs. I had worked out a plan with XXXX XXXX and had been making partial payments to get caught up on the payments that were missed and XXXX was accepting these payments. Now Shellpoint has taken over the loan and refuses to accept my payment and demands that I pay the full past due amount of {$22000.00}. Then I received a letter this week that tells me great news, we have a repayment plan for you. Please send us {$13000.00} to get into the repayment plan and then we will raise your payment to {$4900.00} to help you get out of this mess. I find this offer insulting and impossible. I am a single mother who is working XXXX hours a week with overtime with a XXXX daughter who has paid on time for XXXX XXXX  and this is how I am treated when things go sideways. This is not acceptable ; this is not right or fair. Shellpoint needs to work with me on a solution that is fair and affordable. 

I have worked in the XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX. I had no financial issues and money in the bank until our family was blindsided by my fathers untimely passing. I had to liquidate my savings to help with the funeral and burial expenses and I ended up missing about XXXX month of work to help take care of my fathers affairs. I called in to the servicer at the time XXXX and told them I could not make the XX/XX/XXXX payment and they understood. I told them I would resume payments as soon as possible, and in XXXX I called in and told them I could make a single payment and they accepted it. I was able to make a single payment again in XXXX and then a single payment again in early XXXX. I was obviously trying to dig out of the hole and get caught up with XXXX and we had an understanding and they were happy to accept my payments. 

In XX/XX/XXXX my hours and overtime were increased and I was back on my feet financially and ready to get back into good standing with XXXX. Then my loan got transferred to Shellpoint. When I called in to try and make a single payment they refused to accept and told me I needed to reinstate the full past due amount of $ XXXX ( at that time ) which I could not do. Shellpoint did not care about my previous arrangement. I was told if I cant reinstate that Shellpoint would offer a repayment plan, but the down payment of {$13000.00} and monthly payments of {$4900.00} are not affordable. I know that there are internal and government programs available to help homeowners who have fallen behind on their mortgage payments such as loan modification, loan restructure, recapitalization of arrearages or deferment of past due amounts. Why is Shellpoint denying access to these types of programs??