Consumer complaint received 2024-01-18 00:00:00
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
State: FL

Complaint narrative:
Shellpoint Mortgage has shut the door on my family and put us into foreclosure without giving us a fair chance to fix the problem. My grandfather bought this land 40 years ago and this home loan that is managed by Shellpoint was taken out in XXXX. This is the home that our family grew up in. When my mother passed in XX/XX/XXXX I the daughter and rightful heir was living with her and my aunt XXXX was executor of the will and contacted Shellpoint and told them that the house had been deeded to me and my sister and that I would be taking over the mortgage payments. I am contacting your agency because I am very concerned about the way that Shellpoint has handled the servicing of this loan since I became the owner. Our family has paid as agreed for nearly 25 years and this loan is close to being paid off. However due to the questionable business practices of Shellpoint and employee XXXX XXXX I am facing foreclosure on our family legacy. They have denied me access to assistance programs to help me resolve missed payments and have not played fair or been reasonable. 

I took over the mortgage payments not long after my mother passed. In early XXXX my hours were reduced at my job and I had just been XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  ( ages XXXX and XXXX ). The combination of income loss and additional expenses to care for the children who were now living with me was overwhelming and I missed the mortgage payment in XXXX. I contacted Shellpoint in XXXX to discuss options to help with the mortgage payment. I was told I could apply for assistance programs online but had trouble with their system and after multiple attempts ended up scheduling a phone call in which the agent questioned me about the household income and expenses at that time. Shellpoint came back a few weeks later but I was not offered a loan modification or deferment or any type of real help ; instead their agent offered a payment plan which required me to bring in a {$5000.00} lump sum down payment plus the regular mortgage payment ( total of about {$6200.00} ). This was difficult to afford at that time but I was able to scramble and get the money together but then my car broke down and it cost over {$1000.00} to repair and it was necessary for me to keep my job so I paid for the repair. 
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I emailed my Shellpoint contact XXXX XXXX to tell him I had the majority of the payment and asked if I could have an extension until XX/XX/XXXX to pay the full amount. XXXX XXXX said that there were no options and that the plan would be cancelled because I would be late with 100 % of the funds. I then asked if there was a way they could try to do a new repayment plan or review me for some other type of plan -- -he said that the account was being pushed into foreclosure status in XXXX. He said they would only accept full reinstatement of funds and that the money had to come via wire transfer or certified funds. Shellpoint denied access to programs designed to assist struggling borrowers based on a verbal interview of income and expenses at that time. 

Shellpoint has pushed our home into foreclosure without ever reviewing our current and correct financial information. Our financial circumstances have changed as I am back working full time as XXXX XXXX XXXX as well as becoming a XXXX XXXX XXXX XXXX XXXX business. Additionally my father has moved in and is contributing towards the household expenses with his retirement income. The only option Shellpoint considered was a repayment plan with a huge down payment on our home that we have lived in for 24 years. This home is almost paid off and Shellpoint is engaging in unethical servicing practices in an attempt to steal our familys legacy and equity and this will not stand!

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation