Consumer complaint received 2023-06-26
Company: SELECT PORTFOLIO SERVICING, INC.
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I am writing to appeal the decision made regarding my loss mitigation assistance application. After receiving the decision letter from Select Portfolio Servicing , Inc., I carefully reviewed the reasons for non-approval and believe there are factors that were not adequately considered during the evaluation. I am confident that with further consideration of my financial situation and available resources, an appropriate loss mitigation solution can be reached. 

First, I would like to draw your attention to the XXXX XXXX XXXXXXXX ( XXXX ) program. I have been approved for financial assistance through the XXXX 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. This demonstrates my willingness to contribute financially and work towards a resolution that benefits both parties involved. 

Furthermore, I visited Select Portfolio Servicing, website and found information stating that they offers help and support specifically for veterans. I was encouraged by this statement and believe that my wife 's status as a XXXXXXXX XXXX XXXX in the United States XXXX can provide an opportunity for additional consideration or tailored assistance. 

My wife is a dedicated veteran and solider of 22 years of the United States XXXX, having served XXXXXXXX XXXX XXXX during her tenure. Given my wife 's XXXX XXXX XXXX believe we may qualify for these protections. However, I would appreciate it if Select Portfolio Servicing, could provide me with more detailed information about the specific programs or initiatives you have in place to assist veterans. This would enable us 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 XXXX 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. 

I request a thorough review of my financial information, taking into consideration the XXXX funds, the escrow amount, and my dedication to resolving the delinquency. I believe that a reconsideration of my application will demonstrate a more accurate assessment of my eligibility for appropriate loss mitigation options. 

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. 

Sincerely, XXXX XXXX XXXX XXXX

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