Consumer complaint received 2021-07-03
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC (CA)

This letter is to explain the anguish and emotional distress our 2nd mtg lender, Specialized Loan Servicing ( SLS ) has caused our family for years. On XX/XX/XXXX we received a Notice of Trustee Sale, SALE DATE for XX/XX/XXXX, filed by SLS. We obtained a 2nd mtg with SLS, loan # XXXX in XXXX when we purchased our home. Two years later in XXXX property values and the economy started to decline which led to losing my job of 10 years. These were extremely difficult times financially and emotionally. We started to fall behind with our bills and our mortgages. We were able to obtain a loan modification on our 1st mortgage. However, SLS never wanted to modify our 2nd mtg. We tried reaching out to SLS for assistance to modify our 2nd mtg as we continued to fall deeply behind since XXXX. SLS would not work with us and gave us the runaround, from XXXX. The only communication we received was for payoff requests XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. In XX/XX/XXXX, SLS began reaching out to us to apply for a loan modification, dated XX/XX/XXXX. In XX/XX/XXXX I contacted SLS and was directed to XXXX, my relationship manager. XXXX told me that he could not help us it was too late. Although they sent us the modification package to apply, 2 weeks later, on XX/XX/XXXX, we received a Default Notice and Notice of Intent to Foreclose letter. On XX/XX/XXXX, SLS filed A Notice of Default. We were devastated, scared, and disappointed SLS would want to foreclose and not help my family stay in our home. Amid the COVID-19 pandemic out of despair in XX/XX/XXXX we applied for a loan modification online. On XX/XX/XXXX we received a loan modification offer. The loan modification offer came with a down payment condition of {$49000.00}. On XX/XX/XXXX, we expressed to SLS we did not have the required down payment. During a time of uncertainty and we were beginning to experience income loss, SLS refuse to rework the loan modification with a lower down payment. From XX/XX/XXXX to the present XXXX, due to COVID-19, we continue to experience financial hardships. My husband has had to work reduced hours and my XXXX  continued to experience loss of income. Now we are both forced to apply for early social security benefits. We continue to contact SLS and advised them of our change of income and financial status, but again XXXX our assigned contact at SLS could care less. We asked many times to speak with his manager but were always re-directed to XXXX. We mailed letters to Specialized Loan Servings CEO, XXXX XXXX but never received a response from him. In XXXX of XXXX, we counteroffer a downpayment of {$5000.00} but SLS did not respond to my counteroffer. Our first mortgage is current, and we continue making our payments in time. As of today, XX/XX/XXXX, SLS continues to express to us that the only way they will give us a loan modification is if we pay a down payment, which has increased to {$51000.00}. My family and I are at your mercy. It has been an incredibly challenging and devastating year for our family and especially dealing with SLS. Please help my family to stay in our home of 16 years, that we share with my XXXX  grandchildren, their ages are XXXX, XXXX and XXXX and my XXXX-year-old mother, in our home we love so much. As of today XX/XX/XXXX, we still do not have the XXXX down payment. We accept the loan modification with a down payment of {$5000.00}. Please assist us with SLS to make an exception and modify our 2nd mtg and accept our counteroffer of {$5000.00}. We look forward in anticipation to hear from you to resolve this matter before the SALE DATE on XX/XX/XXXX. Thank you