Update by user Oct 19, 2016
Update: in April, we tried 3 different times to come to an agreement on payment for Shellpoint and they refused to work things out in a timely manner. Always wanted the payout done within a 10 day timeframe.
Once they got called out by this website, they sent us a 30 day payoff but by that time, Quicken Loans had already given up and closed our file. We even had the rep from Shellpoint on a conference call with the Quicken Loans mortgage person and when asked why they were not given a reasonable time frame to work the payment out, his response was "It is what it is"
We are currently in the process of trying to get them to agree to another payoff date but they are not returning emails. The rep called my husband but my husband didn't answer- he sent him a direct email stating he wanted to communicate via email only. Three emails and 3 weeks later- no answer.
Just ONE phone call.
It is sad when a "mortgage" COLLECTION company holds your mortgage hostage, especially when all they are asking for is $3703. That ALONE should be a write off and WE should be forced to pay the taxes.
This is an embarrassment to the mortgage industry. EXTREMELY PETTY.
Update by user Apr 20, 2016
I am waiting to comment any further to see if this can be resolved.. After it is or is not resolved, I will comment.
Original review posted by user Apr 19, 2016
Hello. I am looking for someone that will help my husband and I with the atrocities that have taken place in our lives over the past 10 years.
First, it started with Countrywide. We got behind in our payments in 2004 and they took advantage of our situation and I have the documentation that shows they applied our extra payments to escrow and looks like possible forced hazzard insurance was put on our mortgage, even though we had regular monthly insurance. Second, in Jan 2004, we took out a second mortgage with Citifinancial, under the terms of 9.8% interest for 10 years.. The payment was $144.66 a month and our yearly taxes, we took a tax break of roughly $90 a mo in interest.
In 2005, we had to file bankruptcy because we could never get caught up with Countrywide and got behind with Citifinancial. We continued to pay Citifinancial but was later told it was a daily simple interest loan and since we got behind, the rate went up to 15.99%.. When asked for the Citifinancial documents, they sent us what looks like falsified documents- making it look like we agreed to paying 15.99 % interest for 15 years!!!
During this time, we still continued to pay but was unable to find a way to get out of this loan bc of the bankruptcy that was filed thanks to Countrywide.
Countrywide and Citifinancial sold our loans to other servicers. Countrywide sold our first to Bank of America and they "modified" our loan after our bankruptcy discharge.. They also applied none of our payments to principal during that time and then put it back into the modification.. This was recently realized when I sat down and combed through the records.
Greentree then picked up our home loan after that and the level of unprofessionalism and abuse we dealt with was ridiculous.. We even thought about foreclosing on the hone bc their bullying tactics were too much.. They sold to Ditech a few mos ago. As for Citifinancial, they sold to several and after we couldnt get a straight answer on the account, we quit paying..
We basically still owe what we took out in 2004. In December, my husband recieved a call from a man namd Damon from Shellpoint, saying the account has basically aged out and that they wouldnt be charging any interest and then said that they werent persuing it. Then sent us a setttlement offer for $3700. At the time, we couldnt afford that, out of pocket.
Recently, my husbands credit has become much better and we were in the middle of a refinance.
The issue of a lien being held by Citifinancial is still on the house. Quicken Loans asked us to see if they would settle. My husband asked them for a settlement and the guy said the same amount and then when my husband said we were using a refinance to pay this back, he gave us literally FOUR DAYS to get the money, knowing we werent closing in four days.. Now his tune has changed and is saying we now owe them the full amount and can make monthly payments.
We want OUT of all this predatory lending and Quicken has been working with us to try to help.. Shellpoint mortgage SERVICING is the only thing holding it up..
Reason of review: Problems with payment.