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Updated 8 months ago on . Most recent reply

User Stats

59
Posts
36
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Noah P Bonds
  • Boise, ID
36
Votes |
59
Posts

Has anyone successfully sued their loan servicer?

Noah P Bonds
  • Boise, ID
Posted

One of my loans was taken over servicing by Shellpoint. Since then it's been a pita for the last 6-8 months. Essentially my taxes suddenly weren't being paid and they subsequently lowered my escrow payment. I initially found out because my county began sending me delinquent notices. After many attempts to explain this to Shellpoint they finally have readjusted the escrow payment to an even larger than initial amount.  I have been trying to explain this to them since January - it's taken them until June. I had sent them the delinquent notices from the county at least two times. My initial piti payment was 8,870 now it will be 10,359.To make matters more messy I changed insurance during this time - they repeatedly sent me notices that they did not have proof of insurance...I had my insurance rep send them the docs several times before they finally acknowledged the new insurance. I don't know if this is worth pursuing but I feel like they've really dropped the ball over and over. I'm guessing It's not worth it, but I would like to hear if anyone has ever sued a loan servicer and what they outcome was.

  • Noah P Bonds
  • Most Popular Reply

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    Chris Seveney
    • Investor
    • Virginia
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    Chris Seveney
    • Investor
    • Virginia
    ModeratorReplied

    @Noah P Bonds

    Qualified written response

    Question would be what are you suing for? You can only sue for actual damages. What damages did you have? Maybe some extra money owed on taxes? So you are gonna sue and spend thousands to collect maybe a few hundred in penalties?

    You won’t get money but if you file complaints they would get fined

    • Chris Seveney
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    7e investments
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