Specialized Loan Servicing LLC Mortgage Complaint

Specialized Loan Servicing LLC Mortgage department,

Home equity loan or line of credit Loan servicing, payments, escrow account Illinois

SLS Loan Servicing is the worst company around. I have a Heloc that the interest only period was ending on -/-/-, so -/-/-, they sent letters offering a modification and explaining it was shifting to a principle and int. payment and that I needed to send in like $880.00 by - or the deal was off. I signed the letter and sent a cashiers check. ( as I was fine with this ) Then, out of the blue -/-/-. I got another letter saying the same thing, that I was being offered a modification and to send money, etc.. I called them and they were like, 'oh, yes, we see you sent this in already, we 'll take care of it '. We then noticed online that we owed $1400.00! Then also in -/-/- I got another letter now offering to modify it again ( 3rd time ) and this time keep it as an interest only payment for 5 more years, so naturally that sounded better than the previous - offers, which I thought were already in effect, but never appeared to have taken root in their billing system. So, I called again, after that first call then ensued


original $850.00 was applied to principle, but there is no way to check or to verify this. Also, no one could tell me how they were calculating the interest and coming up with the payment they were now telling me was due ( well over $1000.00 for some reason ). Even if they had switched to a principle and interest payment at the original index plus the margin the amount they were saying was due could not be calculated on any amortization calculator for - amortization, and I work in the mortgage industry so I do this on a daily basis. So, it appears they are most certainly over billing me on interest and can not seem to figure out the payment structure nor the modification or when it goes into effect or if it ever will. The last guy I spoke with said that it should all be fixed now ( about 2 weeks ago ), but my wife just went on line and again their website is showing we owe $1000.00 again ( the payment at int. only should be about $ -/mo based on $97000.00 and Prime plus 1.75 % or 5.25 % interest only ). This amount does n't even equal two payments ( if we happened to have missed one, etc ... ), so again, they are full of it and the most clueless company I have ever dealt with in my life and I 'm over - yrs old. I went online and there is no less than about - reviews all slamming SLS to no end and many, many similar stories to mine. They need to be stopped and put out of business or fined heavily as I 'm sure they are ripping off the public to no end. Thank you, -