Consumer complaint received 2025-03-21 00:00:00
Product: Mortgage — FHA 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: CA

Complaint narrative:
Subject : Shellpoint Mortgage Servicing : Mishandled Loan Assistance, Unfair Modification, Financial Harm, and Emotional Distress **Company : ** Shellpoint Mortgage Servicing **Loan Number : ** XXXX **Borrowers : ** XXXX XXXX XXXX XXXX & XXXX XXXX XXXX Address : ** XXXXXXXX XXXX XXXX XXXX XXXX, CA XXXX -- XXXX Dear Consumer Financial Protection Bureau, We are writing to file a formal complaint against Shellpoint Mortgage Servicing for the mishandling of our loan modification request, failure to acknowledge our financial hardship, sending us inconsistent communications, and offering us a modification that worsens our financial situation rather than helping us recover.

We are exhausted, overwhelmed, and desperate to resolve this nightmare. Shellpoint 's mismanagement has left us financially vulnerable and emotionally distressed, with no meaningful resolution in sight.

-- - Shellpoints Mishandling and Delay Made Our Situation Worse We originally entered forbearance in good faith due to a legitimate hardship. However, Shellpoint 's repeated delays and miscommunication caused our situation to deteriorate. We worked closely with a Shellpoint representative, XXXX XXXX, who failed to provide timely or consistent guidance. While we were actively trying to transition out of forbearance, Shellpoint took too long to respond, failed to process our paperwork properly, and ultimately caused our past-due balance to increase. 

Now, because of their inaction, Shellpoint claims we owe over {$16000.00}. This would not have happened if they had properly handled our file from the start. 

-- - We Were Offered a Fair Partial Claim Plan and We Still Want It We were previously offered a Partial Claim ( PC ) modification by XXXX XXXX that required a one-time payment of {$3500.00}. We agreed to this plan, and we are still willing to pay the {$3500.00} today. 

Instead, Shellpoint ignored the original offer and is now pushing a much worse loan modification that includes : - 7.250 % interest rate ( up from our original 4.000 % ) - A XXXX term ( 480 months ), double the remaining length of our current loan - A higher monthly payment of {$2500.00} ( up from {$2300.00} ) - A total repayment of over {$1.00} XXXX, including over {$820000.00} in interest alone This is not a reasonable or helpful modification. It is a financial trap. 

-- - Our Hardship Was Real and Documented Shellpoint Ignored It XXXX XXXX has XXXX on medical leave since XX/XX/year> and only recently returned to work part-time as an on-call Pharmacy Clerk. During this time, XXXX XXXX XXXX XXXX has been the sole income earner for our household. Despite submitting documentation of our hardship, Shellpoint stated they could not confirm hardship which is completely untrue and unfair. 

-- - Shellpoint Is Sending Conflicting Letters and No One Is Helping Us Since our original contact left, we have received multiple confusing letters from Shellpoint with different and conflicting information. No one has explained the current status clearly. We still have not been assigned a consistent point of contact, and we are left completely in the dark. 

Every new letter makes us feel like foreclosure is around the corner, even though we are actively trying to resolve this and keep our home. This has caused extreme stress and emotional distress for our family. 

-- - We Regret Entering Forbearance It Made Everything Worse If we had known that forbearance would bring us more harm than relief, we never would have accepted it. Instead of helping, Shellpoint delayed everything, raised our debt, and is now pressuring us into a modification that is not affordable or fair. 

-- - We Respectfully Request the Following : 1. That the CFPB investigate Shellpoints mishandling of our loan and review our previous complaints and communication history, especially with XXXX XXXX. 
2. That Shellpoint allow us to move forward with the {$3500.00} Partial Claim-only modification as originally offered.

3. That Shellpoint assign us a consistent, helpful loan contact and stop sending us contradictory and confusing information.

4. That Shellpoint stop any foreclosure proceedings while this matter is being reviewed and resolved.

5. That Shellpoint be held accountable for the emotional and financial harm caused by their delay and failure to support a homeowner in good faith. 

We are not trying to avoid paying. We are trying to keep our home, make payments we can afford, and move forward with stability. Shellpoint is making that impossible. Please help us bring this nightmare to an end. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX Phone : XXXX Email : XXXX Address : XXXX XXXX  XXXX, XXXX XXXX, CA XXXX Loan XXXX XXXX XXXX

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