Consumer complaint received 2024-03-04
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: SELECT PORTFOLIO SERVICING, INC. (OR)

In XXXX, received Notice of Adjustment to payment based on Escrow Analysis from XX/XX/XXXX inflating payment of Escrow ( County Taxes and Insurance ) from $ XXXX/mo to $ XXXX/month bringing Pyment from $ XXXX/mo to $ XXXX/month. 
I did not address XXXX pymt because I was hospitalized XX/XX/XXXX for critical illness and moved in with my son afterwards as I was not able to care for myself. I then spent weeks dealing with Disability and retirement issues. 

On XX/XX/XXXX I contacted Select Portfolio Servicing to find out why my Escrow had gone up since my Coubty Taxes were about {$10.00}, XXXX, which was {$900.00} more than last year, and Honeowners insurance was {$2400.00}, which was about the same as before. 

The customer service agent # 1 was helpful and told me three things : 1. He would submit a Formal request for an inquiry so they could review this ( he never did ).

2. That he could see the problem and believed it was due to SPS charging me twice for my county taxes, making it appear SPS had paid {$20000.00} instead of {$10000.00}. 
However, he still warned me Id have to pay the wrong escrow amount until the services got their books together! and said this could take a few MONTHS. 

In XXXX, I saw that the Cust Serv # 1 had not DONE any of the things he told he he was going to do I called them again with Cust Serv # 2 on XX/XX/XXXX and took all day. 
She staunchly defended the Escrow analysis from XXXX, said it showed my account as - {$15000.00} after County taxes were paid. I told her that made no sense since my taxes, insurance, etc were about the same as last year. 

I finally asked to speak with someone else and then she said she could try one more thing which was doing a new Escrow Analysis form which I agreed to and in just a few moments she reported the following : At first U thought it would show the same numbers but then it was clear that the numbers are indeed very different. Your actually payment should be $ XXXX/mo! If you will accept that. We ally, I will implement it as of XX/XX/XXXX! I will also send you a copy of this new Escrow Analysus for your records!

I was thrilledexcept that she said the CORRECT pymt would not start for TWO more payments which means I would end up paying {$6300.00} for 3 months in a row!! 

I told her I felt the change needed to be implemented immediately as this was a CORRECTION, not a negotiated change. She said it was their policy that no changes could go into effect in less then 2 months. 
I explained Id just retired and State Govt would not allow me to access my PENSION or ANNUITIES for another 60 days, no matter what! So I told her I literally did not have the money. 

She told me to make a pymt for {$4200.00} ( XXXX plus a bunch of late fees ), and that over time we would see if the escrow needs more funds. 

She says nothing about XXXX payment. 

GOOD NEWS is that she did send me the ESCROW ANALYSIS REVISION dated XX/XX/XXXX showing the CORRECT payment us $ XXXX!! 

Butright after that document are DEMANDS for payment, for the remaining balance of the XXXX payment, and now, XXXX pymt. 

My Credit score is very good. I am retired and my income has dropped from $ XXXX/yr ( Net XXXX/mo- vs now Pension/SocSec/Annuities = Net XXXX and the medical expenses from XXXX XXXX used up much of my reserve cash. 

I asked for the Owber/underwriter of the loan and was given a generic looking name and address of a company in XXXX XXXX XXXX MN that did not answer their phone. 

I can afford the $ XXXX/month.I did not request permission to pay taxes/insurance on my own because the form says I do t qualify ( they wont process the request if a loan was modified which I did back in XXXX ). 

They admit the Escrow balances was a miscalculation and have corrected the calculation. I just need help getting them to accept the correct pymt NOW, per their corrected Escrow analysis. Since I first spoke with them nearly two months ago about this issue, I feel theyve had ample time to review, correct and implement the corrected payment. I made one of these inflated punts, and can not afford to make any others. I promise this is the case. I am looking into getting an attorney but thats never a swift process. 

I will attach documents if I am able to download everything.