Consumer complaint received 2017-07-20 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
After paying {$7500.00} to XXXX XXXX XXXX ( XX/XX/XXXX-XX/XX/XXXX), {$30000.00} to XXXX XXXX XXXX ( XXXX ), {$5500.00} to XXXX XXXX XXXX ( XXXX ), {$4700.00} to XXXX XXXX XXXX XXXX these companies did not help us obtain a loan modification that we had been seeking for the past 10 years. Prior to getting trapped by predatory lending, we had lived in our home for ten years and paid more than {$230000.00} on our mortgage loan. Six months after we refinanced in XXXX, we were sued by the prior owners of our home. XXXX XXXX issued us a deed with forged signatures. Therefore the deed was invalid. The suit and two periods of unemployment are what started our financial hardship. We had to find {$5000.00} right away and make monthly payments to pay an attorney to have the title cleared. In XXXX, we were only two months payments behind when we asked XXXX XXXX XXXX to put them at the end of the loan, but they refused. From then on we encountered the same problem of refusal to help us resolve our delinquency from XXXX XXXX to XXXX XXXX XXXX, to XXXX XXXX XXXX. Besides the paid legal services, we have written hundreds of letters, submitted hundreds of repeatedly requested documents, responded to phone calls we received no type of assistance to resolve our mortgage loan default. This complaint is against Shellpoint Mortgage Servicing. We believe that we have been victimized by a predatory practice of mortgage loan companies and servicers have used to purposefully create excessive delays in granting loan modifications so that homeowners like us will be unable to pay the accumulated past due mortgage payments, late fees, and other charges. After repeatedly submitting requested HAMP documents to XXXX XXXX XXXX from XX/XX/XXXX-XX/XX/XXXXwhile pointing out that they were deliberately increasing our indebtedness, in XXXX, they finally told us that they had all documents needed for a HAMP loan modification. But on XX/XX/XXXX they conveniently transferred our loan to ShellPoint Mortgage Servicing who demanded the whole process start all over again. After our complaints about this to CFPB in XX/XX/XXXX, we received notice that we had been granted a loan modification with the 3 month trial period beginning on XX/XX/XXXX-XX/XX/XXXX. We made the payments of {$2000.00} on the XXXX to XXXX of each prior month. But when we received the contract for the final loan modification we believe that the principal balance of {$720000.00} with a balloon payment of XXXX is gravely unjust and possibly illegal because it was purposely contrived to rob us of the opportunity to regain ownership of our home when the default was significantly less and our income was higher eight ( 8 ) years ago. The current conditions and contractual requirements of the Shellpoint Mortgage loan modification make it almost impossible for us to regain financial control of our property to sell or transfer ownership or gain equity in the future. It is criminal to demand the sum of {$720000.00} from us when they would sell the property for no more that the current appraised market value of {$260000.00} to one of the frequent predator investors that openly stop in front of our home. We are requesting the Consumer Financial Protection Bureau to investigate the practice of purposeful delays and inconsistent policies that are illegally contrived to deny homeowners like us access to any government and inhouse loan modification programs for which we have been and continue to be eligible. This fraudulent practice is done with the intent that the purposeful delays will result in enormous principal balances that require such a high mortgage payments that the home owner would either be unable to pay at all or default so they can foreclose and sell our property to one of the waiting mortgage predators with whom they are in contact. This predatory and illegal practice is still victimizing thousands of home owners like us. Copies of all our letters and records are available upon request.

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