Consumer complaint received 2023-04-20 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: GA

Complaint narrative:
In XX/XX/XXXX, I was laid off from my very lucrative job in the commercial real estate field. Ive been in the commercial real estate field since graduating from college, and as such Ive been able to generate a nice income for my family. Therefore, when this unfortunate turn of events occurred, it negatively affected my life and the life of my family in the following ways : My entire 401K was depleted in order to pay my mortgage and living expenses I continued to pay my mortgage until my 401K was depleted After my 401K was depleted, I was using my credit cards to buy groceries and other necessities My credit score plummeted to a very low score After I lost my job in XX/XX/XXXX, looking for a job became my fulltime job. I got up every morning, worked out, went to Mass and then came home to my home office and scoured the Internet for jobs. I tapped into former co-workers, friends, church members and professional organizations for any job leads. Pretty soon, it was a year and I still had not secured a replacement job, a year turned into 2 years and 2 years turned into 3.5 years. Finally, I was able to secure a job in XXXX XXXX, but the job paid more than half of what I made 3.5 years ago. I was devastated, but I knew that I had to accept this position such that I could get back into the market, which would eventually lead me, closer to what I was previously making 3.5 years earlier. 

After being with this organization for 9 months, I was able to secure a better job making more money, but it still does not equate to what I was making before. 

Throughout all of this very difficult time, Ive tried to remain very hopeful and to keep up a strong front for my son, who is very smart. 

If I were to lose my property, it would be devastating to me and my family because we would not have a place to live as I do not have anyone to rely on, I would lose my job, my son would have to quit college and I would be devastated to the point of no return. Therefore, I am looking for a chance to have my loan re-evaluated based on my current income such that I can afford my payments and pay my obligations to the Lender. 


The above letter ( sent in XXXX ) is one of many letters that I wrote to my mortgage company ( XXXX XXXX XXXX ) to save my home. I was ignored. 

I tried to work with XXXX XXXX XXXX starting when my 401K was depleted. I wrote the letter below to them, but they did not work with me. I tried everything to save my home that we purchased in XX/XX/XXXX. I was so desperate ; I went to a company claiming that they would work with my mortgage company to save my home. I paid them $ XXXX only for them to take my money and run. I filed for bankruptcy, but it still did not save my home because my bankruptcy was not accepted. 

When I finally secured a new job, I sent SPX my mortgage payment every month and every month, they would return the check to me uncashed. XXXX sold my mortgage to US Bank National Association, to which I also tried to work with them to refinance my loan for me to save my home. They would not work with me. 

The worst day of my life happened on XX/XX/XXXX, wherein my house was foreclosed, and I was ordered to vacate my home of 21 years in 10 days. This was impossible to do as we had accumulated a lot of possessions in 21 years. I begged and begged for an extension, to which I was initially denied the extension. But later, they finally gave me an extension to XX/XX/XXXX, which I obliged. 

I feel that my family was not given any consideration when trying to save our home by Select Portfolio Servicing and US Bank National Association. I will file a separate complaint against XXXX XXXX XXXX. 

My complaint against US Bank National Association is that they resold my home for $ XXXX, but I was not given the surplus money from the sale as my mortgage balance was less than the amount that the house sold for in XX/XX/XXXX. When I reached out to them for the paperwork, I was ignored. I would like the surplus funds to be sent to me after this devastating event in my life. I have not fully recovered from this incident as that home was supposed to be my forever home. We worked long and hard for that home. I am seeking counseling due to this horrible situation.

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