Consumer complaint received 2022-03-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA

Complaint narrative:
I have a home loan with XXXX XXXX XXXX that is currently in arrears, and am in danger of losing my home due to their questionable servicing and business-related practices. I have been trying desperately nearly 2 years now to get XXXX XXXX XXXX to work with me on a reasonable payment plan, restructure, loan modification or forbearance but I have had no luck cutting through the red tape. My pleas for help have been completely ignored. I have not been designated a single point of contact, which makes matters even more frustrating. I have never spoken to the person SPS alleges is my designated representative. Its always a different representative when I reach out to SPS to discuss my mortgage issue ( s ). Select Portfolio Servicing received XXXX XXXX dollars in incentive payments for loan modifications from the Department of Treasury as part of programs such as Making Homes Affordable. Only XXXX XXXX dollars of the received funds has been disbursed, thus giving SPS the means to continue to help homeowners like me on the governments dime. Wheres my bailout? I do not want to lose my home, and desperately need your offices help! 

In XXXX, I acquired my home, signing purchase money loan originated with XXXX XXXX XXXX XXXX. My loan has since been transferred, most recently to XXXX XXXX XXXX. Nevertheless, I tendered my mortgage payments on time, as agreed, for 8 years. However, in XXXX, I incurred a substantial loss of income. The aforementioned event have caused me to struggle to tender my payments on time. I did the best I could to keep up with my mortgage payments, going so far as to deplete my savings and reserves, but I eventually defaulted on my home loan and was moved to foreclosure status. 

In XXXX, I contacted SPS advising of my struggles to tender my mortgage payments on time. SPSs agents offered me an opportunity to apply for a loan modification. I completed and returned the loan modification application, along with all requested documents. After receiving what seemed like a paper-chase and run-around, I was approved. Next, in XXXX, I began to struggle once again. In XXXX, I submitted a loan modification application only to be denied as a result of me not turning in a document within 30 days of the request. The following week I had a sale date. The sale date was cancelled and I was advised to resubmit my application for assistance. So, in XXXX, XXXX, I resubmitted my application and my submission was denied within a couple weeks without SPS even reviewing my financial documents and no definitive reason as to why there arent any home retention options available to me has not been offered to date. I engaged SPSs agents for assistance with my mortgage crisis, but the only home-retention option offered to me was to tender a lump sum payment to cover the arrears and reinstate my loan. This offer was, and still is, unaffordable to me. I have made every effort to work with SPS, but all of my efforts have yielded negative results. SPSs agents have been extremely unwilling to work with me. No other home-retention options have been offered to me, nor has a timely review of my current financial documents been opened or discussed. 

This foreclosure could be avoided if Select Portfolio Servicing were to give me the chance to be reviewed fairly, negotiate with me for a lower monthly mortgage payment, and look at more common-sense alternatives to foreclosure. I am not asking for any handouts, only for SPSs agents to at least be fair and consider me for any in-house or other government home-retention programs that are available to melike they did in XXXX when my loan modification application was approved. My income combined with my sons income is enough to afford a reasonable payment and resolve this matter. I need your help cutting through the bureaucracy at SPS. Please help me convince SPS and its agents to stop all foreclosure activity and review my CURRENT financial circumstances to qualify me for a reasonable payment plan, restructure, loan modification, or forbearance. Please, help me by getting SPS to consider helping me instead of foreclosing on my home. I do not want to lose my home, and need your offices help to save it.

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