Specialized Loan Servicing LLC Mortgage Complaint

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker

Specialized Loan Servicing LLC Mortgage department,

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker Illinois

I believe my husband and me are the victims of predatory lending. We purchased a home in - - from - Loans. Later we found out through the news that - was practicing some unfair lending. Our loan was transferred to - - -. Our payments increased from $3000.00 to $4100.00. We received a loan modification in - and payments went to $2200.00 which was manageable. In - - - - - transferred our mortgage to SLS - Specialized Loan Service. Our loan has increased again to $2700.00. We can not afford this amount. I called SLS and asked what options we have. The person I spoke to me told me foreclosure or deed in lieu. I asked about relocation expenses if we took the option of deed in lieu and was told the lender does not offer that and the federal program that offered that ended - -, -. So now owe have a house we paid $390000.00 in - worth only $260000.00 in - and we owe $300000.00 and if we move we will have nothing to show for the $89000.00 we invested in the house. I was also told that there was no equity in the house. I would like to know if - was sued, was there a settlement and were we included in the settlement since I seem to be getting nowhere with SLS. They keep referring me back to - - - and - keeps sending me back to SLS with the explanation that they no longer own the account. I believe someone has an answer for us somewhere. We are senior citizens with medical conditions. We are just trying to live and we can not afford a $3000.00 a month mortgage on a home that is underwater, pay bills, and buy medicine. We need answers. Can someone please review our initial mortgage?

Specialized Loan Servicing LLC customer in Illinois
Feb 08, 2017

* Source: CFPB Complaint Database

Specialized Loan Servicing LLC response to complaint:
Closed with explanation

Get Help

Get personal financial help today. Free tools, resources, and support you need.

Help Me

File a complaint

Submit a complaint with the Consumer Financial Protection Bureau today

File Complaint

Stop Phone Calls

Stop the phone calls, learn how to stop harassing phone calls

Stop Calls

Loading similar complaints

{{x.COMPANY}} {{x.ISSUE}} {{X.SUB_ISSUE}}

{{x.COMPLAINT_WHAT_HAPPENED | preview}}...

Read more