Consumer complaint received 2023-08-27
Company: SELECT PORTFOLIO SERVICING, INC.
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-issue: Foreclosure

Complaint:
XX/XX/XXXX  To Whom It May Concern : I am writing to appeal against the decision made regarding my loss mitigation assistance application for the above-mentioned account with Select Portfolio Servicing , Inc . 

Select Portfolio Servicing received my acknowledgement letter on XXXXXXXX XXXX XXXX, and I have carefully reviewed the reasons for non-approval. There are factors that were not adequately considered during the evaluation. 

I have been approved for financial assistance through the Homeowner Assistance Fund ( HAF ) program, which provides me with {$50000.00} to be allocated towards foreclosure prevention and mortgage assistance. This significant amount of funding demonstrates my commitment to resolving the delinquency on my account and finding a sustainable solution. 

Additionally, I have {$9300.00} currently held in escrow that can be utilized to bring the account up to date. That is a total of {$59000.00} that can be applied to what is owed, which demonstrates my willingness to contribute financially and work towards a resolution that benefits both parties involved. 

I also visited your website and found information stating that SPS institution offers help and support specifically for veterans. They also state that they are committed to home retention and offer many assistance options designed for customers who are experiencing temporary or permanent hardship. I am now in a position to pay my mortgage. I was encouraged by this statement and believed that my wife status as a veteran and XXXX-in the United States XXXX can provide an opportunity for additional consideration or tailored assistance. 

My wife, XXXX ( XXXX XXXX XXXX ), is a dedicated veteran and solider of 22 years of the United States XXXX, having served XXXX XXXX  deployments during her tenure. 
Given my wife 's military service, I believe I may qualify for these protections. However, I would appreciate it if you could provide me with more detailed information about the specific programs or initiatives you have in place to assist veterans. This would enable me to make informed decisions and take advantage of any benefits or support that may be available to us. 

I kindly request a reconsideration of my application for the loss mitigation options that were previously denied. It is my sincere hope that you will consider the funds available through the HAF program, the escrow amount, and the commitment I have demonstrated towards resolving the delinquency. 

I understand the importance of the net present value ( NPV ) calculation in determining the financial viability of modification options. However, I believe that the NPV results may not fully reflect my ability to meet modified payment terms or the potential benefits of a modified loan structure. 

A fair resolution is for Select Portfolio Servicing, Inc. to reconsider my application for loss mitigation assistance and reinstate my mortgage. This will allow me to keep my home.

I appreciate your time and attention to this matter. I look forward to a fair and compassionate review of my appeal. If necessary, I am available to provide any additional documentation or information to support my case.

Thank you for your understanding and consideration.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation