Consumer complaint received 2017-01-27 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: VA

Complaint narrative:
The reason for this letter is to let you know that I am having problems with my current mortgage company, Select Portfolio Services. This is a debt collections company and I have been with them since XX/XX/XXXX. They are based in the state of Utah. Because my loan had a high interest rate of XXXX % I asked the company to modify my loan. They sent the paperwork and began the modification. It took quite a bit of time and after several exchanges about papers they denied me the modification. I retained a lawyer and paid $ XXXX/month. It took about 7 months until my situation was resolved and still not resolved to my satisfaction, despite my complaints that the monthly payments were still to high for my modest income ( the interest was lowered to XXXX % for three months trial basis and then they said they would lower it further after trial ). After the trial months they said they could not lower it further. I did not want to but signed up because I felt I had no other options and the company told me I had to take it. One month after I sent the paperwork they contacted me with another way of " helping '' me out ( understanding my income and need to lower my monthly payment ). It was called a mortgage assistance program for people with hardships. I filled out the paperwork requesting permission for them to check my credit and transcript for tax return. After I returned the paperwork I continued to receive letters and further requests for the same paperwork. Most recently I received a letter stating they had received my complete package for loss mitigation. I do not know if loss mitigation is the same as the mortgage assistance program? I am unclear what the next steps are and it is taking a very long time. I am still paying high monthly payments and this is not sustainable. I can not keep up with these payments and SPS is now threatening me with foreclosure. I have been paying for 31 years and I need help. 
TIMELINE : XX/XX/XXXX : purchased home, lender was XXXX XXXX XXXX, interest XXXX % XX/XX/XXXX : refinanced to get lower interest rate, lender was XXXX, the refinance included mortgage, credit cards, car payments - THIS COMPANY SCAMMED ME. When I was negotiating with them they told me I had to take it. 
XX/XX/XXXX : I had made all payments to XXXX and they sold my loan multiple times, the last company being XXXX. While with XXXX despite making all payments they kept sending me a bill for {$7000.00} ( for escrow but I did not know what to do because I was making my payments ), so I ignored it. They started foreclosure process and I did n't know why ; then they started rejecting my payments. Finally I found all the money, over {$14000.00} by then, I paid them and they stopped the foreclosure. 
XX/XX/XXXX : XXXX sent me a letter and told me my mortgage was now with Select Portfolio Services. At that time I called SPS and started the modification process ( as storied above ).

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