Consumer complaint received 2025-09-13 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL

Complaint narrative:
In XXXX and XXXX of XXXX my home sustained damage resulting from XXXX XXXX XXXX XXXX effects requiring repairs to our room. Additionally we suffered financial hardships in XXXX from the cost of the repairs and income sources. 
Application was submitted for my home I have owned since XXXX for disaster assistance from SPS ( Select Portfolio Services ) who acquired my mortgage from XXXX XXXX. I was provided information that the mortgage company would provide assistance, forbearing any payments for three months and provide us with one of three options a ) assess the payments at the end of the loan, XXXX  ) restructure the mortgage with a new payment plan, or XXXX XXXX provide an affordable repayment plan for the XXXX payments. 
SPS underwriting took more than 4 months to complete the disaster assistance package with multiple requests for documents and information already provided. All responses by myself were recorded and responded to withing the next business day. On XX/XX/XXXX a decision was finally made by the investor to SPS to give us an unaffordable payment plan, pay a full balance. or accept foreclosure procedures. 
This was a small amount of less than {$6000.00}. With no other choice, having spent significant saving on repairs and having to start another job with a gap I was forced to agree to an increased payment as they refused to put the payments on the end of the loan. The mortgage has been paid monthly for 19 years with less than 20 % remaining on the loan. 
To make matters worse, once payments began with the payment plan, SPS started immediately reporting to my credit I was 90 days past due. My credit score of over XXXX has fallen as a direct result of this reporting to under XXXX, leaving me unable to acquire credit. This was after several assurances from representatives on recorded calls that assured me that I would not be reported as not-paid on time if I made the payments and complied with the process as I did. I ONLY went through with the process with the understanding it would not reflect negatively on my credit. 
The mortgage company on our other home ( XXXX XXXX  ) offered the same assistance, and conveniently without any issues gave us the same 90 days ( XXXX payments ) and added them the end of the loan and did not report anything negatively. The rest of my credit is all current, however SPS has put me in a position that I have to pay them the excessive payments and interest, I can not refinance my home, and I can not get any credit at all. 
This has dramatically affected my family, I have XXXX children in college I can not obtain credit to assist them, I can not obtain credit to refinance my other home, and I can not purchase a new home where I have been relocated to work because I have to wait 1 year past a mortgage delinquency. 
SPS has used strong arm tactics to take advantage of me from as a result of disaster assistance in areas declared a state of emergency resulting from home repairs from the disaster that destroyed many homes in Florida and other states. SPS has caused irreparable harm to myself and my family, forcing us into a position we can not obtain and maintain credit. 
I have attached the letter that was provided by SPS with the payment plan to strongarm my into a worse situation. This is not how the disaster assistance program was supposed to provide for Florida residents impacted from declared natural disasters.

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with explanation