Specialized Loan Servicing LLC Mortgage Complaint

Specialized Loan Servicing LLC Mortgage department,

Home equity loan or line of credit Loan modification,collection,foreclosure California

I purchased my residence in -. My first mortgage was with - and the second mortgage was with - as well. - purchased the HELOC from - - -, who had purchased it from -. I then fell behind on the payments to my HELOC in -/-/- or -/-/-. Specialized Loan Servicing , LLC, who was servicing the loan on behalf of - sent a me a pre-approved package for a loan modification dated - -, -. The instructions stated that if I agreed with the terms, I should sign and mail in the agreement along with a payment. I signed the -/-/- agreement on -/-/- and sent in to SLS along with a cashier 's check for -. Thereafter I noticed a vague term in paragraph - of the agreement. I then contacted SLS about the vague term ( no indication of what will happen after 17 years, what the balloon payment would be at the end, amount of payment, etc ). SLS told me that they would send an updated agreement. SLS followed up by sending me a letter dated -/-/- with an updated paragraph - and then followed up with a revised agreement. I was making payments


mod agreement asking me to sign and send back with payment. I again contacted SLS and they told me that if I sign this new agreement, it would supersede the agreement I had already signed and all the payments I had been making would apply to this new agreement and that I would not have to send in a new check. So I signed the enclosed acknowledgment and sent it back to SLS. Even after this, I heard nothing back from SLS regarding my loan modification. I have called SLS more than 150 times regarding my loan mod. They do n't know what has happened to my loan modification even though I have been making payments as they asked. Again in or about - SLS sent yet another loan mod agreement ( proposal ) which does n't reduce the principal or the payments. When I contacted SLS they told me that they no longer have a loan modification program to offer me even though I signed and sent back the agreement and made payments on the agreement. Now I am facing the real possibility of a foreclosure.