Consumer complaint received 2023-10-04
Company: SELECT PORTFOLIO SERVICING, INC.
State: OR
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-issue: Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure

Complaint:
I am a senior citizen with a XXXX XXXX husband and we are facing foreclosure due to financial impact of Covid on our family. We have tried to work things out with our mortgage servicer Select Portfolio Servicing and they were helpful at the beginning of the pandemic and gave us a forbearance and were able to get back on track with a modification. In late XXXX and early XXXX we faced more problems due to reduction in hours at work and another bout with Covid and my husbands medical bills. I have tried repeatedly to get SPS back to the table to work with us but they did not offer any type of assistance. After we missed a few payments in spring of XXXX they offered us a repayment plan but this raised our payment over {$1100.00} per month which was not affordable at that time. Now we are being told there are no options except to reinstate the full past due amount of {$19000.00}. I am overwhelmed with caring for my husband and handling all responsibilities as well as back to work full time and I believe that SPS has options they are not considering our family for. Our financial circumstances have stabilized and I am in a better place and able to afford a fair and reasonable monthly payment. The problem is that SPS has shut the door on my family and told us there are no other options for resolution and this will lead to us being out on the street. 

Our delinquency is a result of Covid related job loss and major health issues. We were granted CARES forbearance because I was out of work for one year in XXXX. We resumed payments in XXXX and after multiple attempts were granted a modification. We paid on the modification as long as we could but due to reduced hours and Covid and my husbands health issues ( he is XXXX XXXX  and on XXXX ) we could not keep up with the modification payments. I tried many times to speak with SPS about a more affordable option or plan but could not make any progress. Instead I was offered a repayment plan with monthly payments of {$3500.00} which we could not afford at the time. We feel that SPS has written us off and is not willing to work with us towards a reasonable resolution. We have had a horrible time these past few years and my husband almost passed away a couple of weeks ago from XXXX and we are just trying to get through this situation. I am a XXXX. XXXX for XXXX XXXX and have recently received a pay raise. We have the ability to pay our mortgage if SPS were to work with us and consider our family for a program that will defer or recapitalize our past due payments of approximately {$19000.00}. We have had a change in financial circumstances and can afford a fair and reasonable payment. 

We have owned our home in XXXX XXXX since XXXX. I have worked in health care administration for 30 years and now that I am at XXXX XXXX I have worked my way up to XXXX XXXX after being laid off during the pandemic. XXXX was an XXXX XXXX  for 30 years. We are grateful that there was a government forbearance plan to help us due to Covid and resumed making payments to SPS once we were back on our feet financially. While we made these payments we were reviewed for and eventually approved for the permanent modification. We made those payments until we were once again impacted by Covid and reduction in hours at work and increased medical co-pays and defaulted on the modification and tried to see if there was a way to get back on track and were offered a repayment plan that increased our payment from {$2300.00} a month to {$3500.00}. At that time it was simply not affordable.

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