Consumer complaint received 2016-12-13
Company: SELECT PORTFOLIO SERVICING, INC.
State: GA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
XX/XX/XXXX XXXX XXXX XXXX XXXX, GA XXXX Director XXXX XXXX Consumer Financial Protection Bureau XXXX, XXXX XXXX Headquarters address Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX Dear XXXX XXXX ; I will lose my home on XX/XX/XXXX. After a long history of exchanges exchange with the CFPB concerning the modification my home. A short sale or foreclosure of my home is scheduled for XX/XX/XXXX. 

For years I have informed CFPB and SPS that may home appears Uneconomic. 
My Principle and Interest annual payments are less than my property taxes. 

Since the purchase of my home XX/XX/XXXX my home assessment has been in error. 
I purchase the home at {>= $1,000,000}. 

As market prices plunged I provided numerous written communications concerning the over assessment valuation. Today the assessment value of XXXX XXXX XXXX is {>= $1,000,000}. 

I have paid SPS the taxes in escrow since XX/XX/XXXX. 

Parcel location number XXXX. Today the property is listed to sale for {$860000.00}. My up is up for short sale and foreclosure because I can not pay the taxes. 

As Of XX/XX/XXXX, I have received approval to sale the property below my original purchase price at an expected loss of {$450000.00} relative to the purchase price and {$470000.00} to the historical tax assessment. The current price and comparable evidence The error and over assessment. 


Comparable Street and neighborhood XXXX County tax assessments. 

Parcel Number Location Address XXXX County Assessments XXXX XXXX XXXX XXXX XXXX XXXX {$650000.00} XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX {>= $1,000,000} I am requesting a tax reimbursement of {$120000.00} plus interest for the historical over assessment of the property. My request for reassessment is well documented in written letters to you Tax Commissioner and to SPS. 

I will give SPS the rights to pursue the tax over payment to XXXX County. I need my cash by XX/XX/XXXX in order to relocated. 

Please respond as soon as possible sine I am being removed from the home and need funds to resettle. 



Sincerely, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, Chair ; XXXX XXXX XXXX, Vice-Chair ; XXXX XXXX XXXX and XXXX County Board of Assessors XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX Dear XXXX XXXX : Since the purchase of my home XX/XX/XXXX my home assessment has been in error. 
I purchase the home at {>= $1,000,000}. 

As market prices plunged I provided numerous written communications concerning the over assessment valuation. Today the assessment value of XXXX XXXX XXXX is {>= $1,000,000}. 

Parcel location number XXXX XXXX. Today the property is listed to sale for {$860000.00}. My up is up for short sale and foreclosure because I can not pay the taxes. 

As Of XX/XX/XXXX, I have received approval to sale the property below my original purchase price at an expected loss of {$450000.00} relative to the purchase price and {$470000.00} to the historical tax assessment. 


Comparable Street and neighborhood XXXX County tax assessments. 

Parcel Number Location Address XXXX County Assessments XXXX XXXX XXXX XXXX XXXX XXXX {$650000.00} XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX {>= $1,000,000} I am requesting a tax reimbursement of {$1200.00}

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