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My loan was taken over by SLS a few years ago. It was with GMAC.

I sometimes do pay late because I'm a single mom and I rely on child support that doesn't always come in on time and creates all sorts of problems. SLS ALWAYS STARTS CALLING FOR THEIR MONEY WELL WITHIN THE GRACE PERIOD. MY LOAN IS DUE ON THE 1ST WITH A GRACE PERIOD OF 15 DAYS AND BY THE THIRD OF THE MONTH, THEY START CALLING. I live in CT where, even in my county, the average home is priced around $200,000.

My home, per the town, is appraised at $170,000. Twice now, I have been late on my payments and they have charged me an appraisal fee. Apparently some appraiser comes by and estimates the value of the home if you are late on payments and SLS charges well over $100 for it. All of course, without me knowing about it.

I have called SLS about this, asking why they do it, considering my home is appraised at $170,000 and at the time I owed $20,000 on the mortgage. I asked why they need to have an appraiser come by because NO WHERE in CT can you buy a house in decent condition for under $100,000. They have no answers. I also tried for the loan modification.

I make $20,000 a year and child support adds another $5,000. SLS told me I MAKE TOO MUCH MONEY for a loan modification.

The average income in my area is around $50,000 a year and I make too much money! This company is horrible, don't ever do business with them, they will eat you alive.

Review about: Specialized Loan Servicing Loan Modification.

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