Shellpoint Mortgage acquired my loan in 2016, The loan was sold to them for 179K. Since then it has been a roller-coaster ride.
I was told they were lowering my payment, then they increased my payments, then they placed an $8,000 forced hazard insurance policy on my property - my property is a condo- and I have an association, plus I pay my own homeowner policy. I paid Shellpoint the $8,000 in cash- but then they placed more fees on my loan up to $27,000 - and they started reporting me late to credit bureaus , when I was making every payment. They said my only choice would be a modification.
They sent me a modification -that was supposed to be with a lower principal- I purchased the property in 2008 for $247K - now - 11 years later they have stolen all of my equity and put me in a modification for $255K- Whenever I call, they tell me to write to escalations. Now today I am getting threatening letters again that I need to pay for at the forced hazard insurance again- This is insane- My property value is $250, They have stolen all of my equity and its like I am buying my home all over again- Can someone help - I see that there are several states in the union that are having problems like mine- Can we start a Federal Class Action Suit against this evil evil company- I have read what they have done to so many other Americans- it is sickening and unconscionable
Product or Service Mentioned: Shellpoint Mortgage Servicing Loan Modification.
Reason of review: Pricing issue.