Consumer complaint received 2019-09-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: NY

Complaint narrative:
XX/XX/XXXX Subject : Formal Complaint Against Select Portfolio Servicing Inc ( SPS ) To whom it may concern, While the following represents a new complaint lodged with you it follows on the heels of the previous complaint- # XXXX. 

Over the course of many months of negotiation with SPS along with the almost daily supply of demanded copious financial data with a view to arriving at a mutually acceptable familial home retention plan I reluctantly came to the realization that lenders are still involved in unscrupulous, disingenuous and indeed deceptive practices even in the wake of the XXXX financial crisis. 

In this particular case one is struck by the XX/XX/XXXX restructuring proposal ( attached ) which involved monthly payments of over {$13000.00} which is in excess of our GROSS monthly familial income and thus way above our net take home pay. Moreover, at the end of the first 12 months of payments we would be expected to make a balloon payment of a quarter of a million dollars! If I had that type of money lying around or indeed had the potential for it, I might well not require a restructuring at all!! I am XXXX years old and I include in that calculation my pension and social security payments. 

In all good faith I briefly explored financing options but rapidly came to the realization that I could well be induced into a situation where I could not possibly honor my financial commitments. Therefore, on XX/XX/XXXX I responded to SPS ( attached ) and pointed out that there must be some mistake here given their economic demand vis a vis the financial realities in which I find myself as I build some equity now after concluding a period of almost three years of unemployment. 

Their response of XX/XX/XXXX represented a XXXX slam the door in your face tactic of imposing an enforced foreclosure date of XX/XX/XXXX and no other content of a constructive nature. 

I have since written appeals to them on XX/XX/XXXX and XX/XX/XXXX ( attached ) in which I pointed out again the financial inconsistencies of their proposal. Moreover, I asked for more time to work collaboratively toward an operational agreement that can actually work over the long term. I also pointed out the religious sensitivities of this coming XXXX in terms of the XXXX XXXX Holidays which preclude all use of communication equipment and certainly moving is forbidden. 

Additionally, when I spoke to SPS last Friday I updated them as to the status and condition of my gravely ill father in law XXXX XXXX XXXX ( in XXXX XXXX XXXX ) which is preventing me from focusing on this issue with wife as she is there most of the time. I was left with the impression that SPS could not care less. 

Overall my disappointment and XXXX are accentuated by my clear and obvious willingness to collaborate, cooperate and negotiate throughout this lengthy process with no reciprocity from SPS! I have tried hard to build consensus and have been met exclusively with conflict. 

I firmly believe that that the enforced sale date should be cancelled or at least postponed while the two parties make reasonable requests of each other. Being asked to pay more than I earn can not be categorized as reasonable! 

In advance, I thank you for your time and attention. 

Sincerely yours, XXXX XXXX

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