Specialized Loan Servicing LLC Mortgage Complaint

Specialized Loan Servicing LLC Mortgage department,

Other mortgage Loan modification,collection,foreclosure Idaho

I got divorced in - and then became - and unable to work in the summer of - and as a result began to have trouble making my mortgage payments. I was able to obtain a modification of the first mortgage on my home in approximately - of -. On - -, -, I contacted - - - to request a modification or a partial pay-off/settlement of my second mortgage to avoid foreclosure of my home. I never received a response to my request, instead, I received notice from - - - that they had sold the loan to Specialized Loan Servicing , LLC and I was told that SLS would continue with the process of reviewing my file for a possible modification. On - -, -, I contacted SLS to again request either a modification or a partial pay-off/settlement of the second mortgage. The second mortgage has a high interest rate of - % and a balloon payment of over $10000.00 that will become due in -. I requested an interest rate reduction and removal of the balloon payment ; or that they allow me to pay a partial lump sum to pay off the loan in full. I


a payment of only $15.00 more per month would have resulted in no balloon payment. I offered to pay $8000.00 to settle the approximately $14000.00 second mortgage debt. On - -, -, I submitted a Making Home Affordable application to SLS. On - -, -, I submitted additional forms that their automated system claimed were missing. Over the course of the next six months, SLS continued to claim that they were missing documents or information, and I would re-submit, on multiple occasions, the same documents ( divorce decree, quit claim deed, and bank statements, IRS - ) and same information they requested. Additionally, on - -, -, I sent a letter requesting that SLS send me monthly statements for my loan, which they had stopped doing because of my bankruptcy. I still have not received a monthly statement from SLS to this date. Instead, they insist that I make payments over the phone, which incurs an additional $10.00 charge each month. On - -, -, I sent SLS a letter reiterating that I am divorced and again stating that I had previously submitted the quit claim deed and divorce decree on multiple occasions. On - -, -, SLS requested that I submit the same documents yet again, and required that I submit banking information for a third party ( my brother ), including account balances to ensure that the $8000.00 was there ; which I submitted only because I assumed such a request was due to an approval of my pay-off offer. On - -, -, eight months after I first contacted SLS and fourteen months after first contacting - - - to request a modification of my second loan, I finally received a reply from SLS. SLS denied my request for an $8000.00 pay off, denied my request for a HAMP modification, stated that I was not evaluated for a standard ( in-house ) modification, and approved me only for a standard repayment plan. A standard repayment plan does not address my concerns about the predatory balloon payment and does not avoid the risk of foreclosure on my home. I feel that SLS was abusive in their multiple requests for the same information and documents, engaged in an undue delay by taking eight months to deny my request for modification or pay-off, and that their review of foreclosure alternatives was inadequate.