Consumer complaint received 2015-05-18
Company: SELECT PORTFOLIO SERVICING, INC.
State: NY
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
XX/XX/XXXX
XXXX
C/O XXXX

Account#:
XXXX

Property Address: 
XXXX NY XXXX	

Complaint Againt Select Portfolio

Customer Assistance Group, 
XXXX TX XXXX


Dear Sir or Madam,
I wish to file an official complaint against Select Portfolio Servicing, Inc. for deceptive business practices.
I was paying my mortgage timely until Hurricane XXXX occurred.  Hurricane XXXX forced me to vacate the property due to flooding and damage that resulted from said storm.  Select Portfolio is well aware of the situation pertaining to the property and the coinciding insurance company involved.  I have been fighting with the insurance company for the past 2 years regarding their obligation to cover the necessary repairs to the subject property.
Prior to Hurricane XXXX I occupied the XXXX floor and I had XXXX tenants on the XXXX floor.  After the storm, everyone, including myself had to vacate the property due to the severe damage that resulted from said storm.  I had to go rent an apartment for $1,500.00 and maintain the mortgage payment on the subject property simultaneously.  I was able to do for nineteen months without severe strain on my finances.  I have now reached a point where I can no longer continue to maintain the payments.  I have completed the repairs to the XXXX floors and the XXXX apartments upstairs are now rentable.  I currently have the XXXX apartment rented out and should have the XXXX apartment rented out shortly. My own monies were used to finalize the construction on the XXXX floor of the building and I continue to struggle to complete reconstruction in hopes that I am able to secure part or all of the insurance monies due.
The insurance company has denied my claim and I am currently in litigation with said entity over the damage that occurred to my property from hurricane XXXX.  We went through arbitration XXXX in XX/XX/XXXX and still they refused to pay on the claim.  The only remaining option as per the mediator at this time is to file suit, which I did as they refused to negotiate in good faith. 
The lender, Select Portfolio Servicing, Inc. has refused to work with me or assist me in any way in overcoming my short term financial issues.  
Further note that said entity has monies in escrow to cover repairs to the subject property.  Given that the insurance company has yet to pay my claim, I reasonably plan to request said funds be released to myself so that I may complete the necessary repairs to my property.
Please note that I made a substantial deposit at the time of purchase totaling 20% of the total purchase price.   I have consistently paid my mortgage and only recently ran into some short term financial issues due to circumstances outside of my control.
I don't believe it reasonable to commence foreclosure proceedings against me given that I have proven my ability and willingness to do what is necessary to keep my property.  I am working diligently to address the financial issues faced due to Hurricane XXXX.
I reasonably believe what's reasonable is for the bank to work with myself and release part or most of the escrow monies to myself so that I may complete the construction work to be done. 
Further, I believe they should stop any and all types of foreclosure action against myself as I have proven to be a conscientious borrower who ran into some short term financial issues due to circumstances outside of my control.
Please let me know how you are able to assist me with this most serious matter.
I have attached copies of the numerous filings that I have made against the insurance company trying to address this matter promptly as well as photos of the damage caused by Hurricane XXXX for your review.
I thank you in advance for your anticipated prompted response in this most urgent matter,


XXXX/ XXXX

Cc:  Select

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