Consumer complaint received 2015-04-07
Product: Mortgage — Other mortgage
Issue: Loan modification,collection,foreclosure — 
Company: SELECT PORTFOLIO SERVICING, INC. (CA)

XXXX XXXX XXXX was the original mortgage company for my home loan three years ago. I was going through major hardship after my divorce when we went from a healthy XXXX income to a XXXX income. I was also in transition in my work. I knew trouble was coming, so I contacted XXXX XXXX XXXX. They told me that I had to be in default before they could work with me to modify my loan. In another three months, I was in default, so they started to offer assistance. It took 18 months before they approved me for what they called a loan modification, which an attorney told me clearly was not. XXXX XXXX XXXX made " clerical errors '' and " forgot '' to include escrowed charges into my monthly payment. They apologized, but there was nothing they could do. I was now in default of my " loan modification. '' However, that did n't matter, because at that same time and though I had paid {$12000.00} to XXXX XXXX XXXX over a period of six months during the supposed trial period, XXXX XXXX XXXX sold my loan or handed it over to a servicer, Select Portfolio Servicing , Inc. ( SPS ). Once I learned of that transition, I contacted SPS and entered into a loan modification process with SPS. At first, I thought SPS would help me, but now I feel strongly that they were playing games. While legally allowed to do so, every 60 to 90 days, they contacted me to tell me a new program had opened that I might be a fit for and that meant we would have to close the current process down to allow me to apply for the new program. I trusted them. I thought they must know better than I the homeowner does. So I agreed. Every few months this happened until we were entering our second year. At that point, we tried what I believe was the HAMP, and was declined. So we kept submitting paperwork. In XX/XX/XXXX, I hit a wall with SPS. It felt as though they were stringing me along, but I did n't understand why. In XX/XX/XXXX they said I did n't earn enough money at {$6000.00} a month. In XXXX they said I earned too much money at {$7000.00} a month. I called to ask them what income they would need to allow me a modification and I could not get a straight answer. I began my search for a law firm to help me in my loan modification and communication process. In early XX/XX/XXXX I signed an agreement with XXXX XXXX XXXX in XXXX XXXX to help me structure the loan modification application and help me communicate with SPS. The representatives at the law firm got the same runaround as I had gotten from SPS. However, a new twist was added and I was once again financially XXXX. I was n't earning what I had been, which threw a wrench into the works for the process. We are now coming to the XXXX appeal, according to SPS. My financial situation has improved and SPS should consider my income over an average of 6 to 12 months to get a clear picture that I can pay {$2500.00} a month in a new loan. I own my own business and freelance. That means I do n't receive a paycheck like a W2 employee. But I can certainly pay my bills. I paid for both a legitimate home inspection and a legitimate home appraisal, which comes in about {$100000.00} less than the appraisal SPS continues to use in my paperwork that was provided to them via drive-by appraisal tactics. I HAVE REQUESTED VIA MY ATTORNEY THAT SPS CONSIDER THE APPRAISAL AND HOME INSPECTION REPORT, BUT TO THIS DAY THEY HAVE NOT. For two years I have asked for XXXX things : Please give me a loan with reasonable terms, remove some or all arrears that make this loan too much to bear, and give me an affordable monthly payment ( which with escrowed HOA dues, taxes and insurance would be about {$2400.00} - {$2800.00} a month ). 

I feel like I have been victimized by SPS and a very broken loan modification process that was put in place to help people in hardship keep their family homes. What I have come to realize is that the program and servicers help very few people.