We had the misfortune of having our mortgage sold to this company the first year we obtained the mortgage in 2016. SLS insisted they set up an escrow account for our flood insurance the second year, even though we paid the flood insurance premium, in full, the first year.
It has been a nightmare. We paid $695 upfront that was to be used to set up the account and for a cushion. We found out at the end of the year, when the insurance was to be paid, they had not applied the $695 to the escrow account. The account is now short and they want $450 more from us.
Not happening! Additionally, they paid the incorrect amount to the flood insurance company. A higher amount! Not my fault.
Now they are insisting our monthly mortgage must go up to cover their mistakes! If they had paid appropriately, even without the $695 they applied to the principal instead of the escrow, they STILL would have had enough of OUR money to pay the flood insurance. Sell a kidney to pay your loan instead of going through these rip off con artists. We have contacted them and I am waiting for a supervisor to call me back.
I was told it would take up to 24 hours. Who wants to bet that I never receive a call?
Product or Service Mentioned: Specialized Loan Servicing Mortgage.
Reason of review: Problems with payment.