Consumer complaint received 2025-07-26 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Shellpoint Partners, LLC
State: NJ

Complaint narrative:
The property i had with this lender shellpoint mortgage had suffered a fire back in XX/XX/XXXX. The property was a triplex I filed an insurance claim with my insurance company and also hired a public adjuster. While I was waiting for the insurance to payout my adjuster filed a hardship with mortgage company. It took insurance about 3 month to payout once they sent the payment over to shellpoint loss drath department i called and emailed shellpoint and let them know the funds they received to pay off property that way I don't have to deal with them. They advised me they won't be able to do that since it's a loss and I will have to fix the house. I called and emailed again to make same request they kept transferring me over to diffrent departments and never got and answered. They actually sent me XXXX dollars to take the property to 50 % which it was impossible since the insurance adjuster wanted me to have the property cleaned out since there was XXXX families living there and it was a lot of trash and the adjuster wanted to see it cleaned so he can XXXX out the claim to see if property needed to be demolished. That's what I did with the XXXX and I uploaded the receipts where the funds went. The insurance adjuster now maxed the claim out so I called shellpoint again and let them know that a new scope of work from insurance adjuster was being sent out with a higher pay and that I needed more money to demolished the property to build but they didn't want to send me no more money nor pay off the loan. A few months goes by trying to get the mortgage company to send out or pay off loan the rep tells me I only have XXXX choice short sale the property or deed of lieu. I asked why they said since i was t paying the mortgage my intrest rate went up to 37 % my original loan was for XXXX by XXXX of XXXX they wanted me to pay them XXXX I ask why they said they never approved the hardship which when I spoke to several of reps they told me it was approved and it was on deferment. So all of the sudden they saying they going to foreclosure me and keep the money from insurance. I told them I been requesting from the first payment they received to payoff the property and they kept ignoring and telling me I cant i have it on emailed but now I can when it's XXXX. I had no choice but to let the property forclose since they left me with no choice. The property been sold on foreclosure back on XX/XX/XXXX as of today XX/XX/XXXX property still under my name i am receiving water bills and violations from the city. Again I have the emails where I was telling them to pay off property and they refused they had the funds to do so. Now I have no property no insurance funds bad credit water bills and violations till this day XX/XX/XXXX. I need resolution either the money from insurance or the property.

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