Shellpoint Partners, LLC Mortgage Complaint

Shellpoint Partners, LLC Mortgage department,

Other mortgage Loan servicing, payments, escrow account Utah

To whom it may concern, we are filing a dispute regarding the modification offer that was extended on -/-/2017. We completed an RMA package and outlined all of our expenses and income. Our gross income is $6900.00 and our expenses are $5900.00. Thus places our debt to income ratio ( DTI ), is currently at - % on the back end and - % on the front end. These payments being offered are extreme and place or debt to income ratio at a severe deficit. It appears that there was no type of underwriter guidelines being followed to determine our affordability. We feel that this modification offer is predatory by nature, due to the fact that these payments are placing our debt to income ratio on the back end at - %.


It appears also that based on the mortgage calculations and mock amortization schedule, the modification is based on $28000.00 being paid back within a - year term, which is completely unaffordable. The definition of A loan modification is a permanent restructuring of the mortgage where one or more of the terms of a borrower 's loan are changed to provide a more affordable payment. With a loan modification, the lender may agree to do one of more of the following to reduce your monthly payment : reduce the interest rate. This has clearly NOT been achieved in this case. Our family feels that this type of treatment is an outrage and a great way to force our family into a - bankruptcy.