Consumer complaint received 2020-01-10 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Specialized Loan Servicing Holdings LLC
State: NC

Complaint narrative:
Good Morning, Back in XXXX, I had a loan Modification with XXXX XXXX XXXX XXXX with the intent of consolidating both loans. I was told by the representative not to worry. Thats what he plan to do! I signed off on the documents to proceed with the process! Once the loan was approved and the documentation was returned to me. I notice the payment was higher than the original mortgage payment. At that time I thought the payment was higher because converting the 1st and 2nd mortgages. Later on I learned that XXXX XXXX XXXX XXXX had lied by not converting the second mortgage in the modification. Shortly after the conversion I started receiving information from a company called Specialized Loan Servicing. I called to inquire what this was about and why did I have to make a payment for XXXX a month. Reality hit me hard! I was a victim of predatory lending! XXXX XXXX raised the price of the 1st mortgage XXXX more dollars. I then realized that I would have to pay XXXX dollars for the 1st mortgage and XXXX for the 2nd. I was unable pay both and maintain my household expenses. 
I made several calls to SLS to ask for assistance in the beginning of this process. I was always turned down for assistance. When the payment got to be XXXX. I called SLS and begged them to work with on a loan modification for a lower payment. Their response was : WE CAN ONLY ACCEPT WHAT WAS DUE! This company tells their customers that! A partial payment is progress! But SLS will not accept that. 
Ten years have past now SLS is threatening Foreclosure!! Currently they are demanding that the full amount past due be paid or they will foreclose on the second mortgage! Communication is really bad and very unprofessional with SLS. Since receiving the threat letter. I have contacted SLS several times to make efforts to resolve this problem. I have made offers by phoned by written response. Currently I have no heard any reply back on any correspondence with XXXX ( Teller ID # XXXX ). Letters faxed to the company on XX/XX/XXXX. Seems to be in outer space! I called XXXX on XX/XX/XXXX. This is what I got from him! What letters? I have no communication or offers from you! They ( coworkers ) must haven't scanned them into our system, let me put you hold. After waiting one letter popped up in his system. Then I was put on hold once again! Then the other letter appeared! XXXX then said he mailed us information on XX/XX/XXXX! Today is XX/XX/XXXX, and nothing has arrived from SLS! 
In the XXXX SLS was given billions of dollars to assist customers who were victims of predatory loans. The Federal Government Bail out program also funded the TARP to assist also. How did SLS distribute their funding? Since XXXX they have denied any modification I have ask for!!! In XXXX back in XXXX I inquired once again! I was told by XXXX that the amount was to high and they will only accept payment in full of the past due amount! He then stated I will go ahead and send you the paper work for assistance. We called him a day late to ask about a question on the paper work! He stated don't worry about completing it! His Team has denied any modifications for assistance due to the amount owe. 
In closing this company has sat on this loan for ten years! Why? I thought this loan was a charge off! Nothing has showed on my credit report concerning SLS in ten years! Why come after my home now? Did the company purposely wait this long so they could get more equity from the home? There is not a company out here that would let something as this go unnoticed for ten years! Then attack me, my wife and son by foreclosing on our home.

Company response to consumer: Closed with explanation