Consumer complaint received 2024-08-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA

Complaint narrative:
The reason for this complaint is that SPS is holding my account hostage from me reinstating it. I requested a PAYOFF via the automated telephone line on XX/XX/XXXX. I put in my fax number. I received that the same day. The same day I also spoke to representative and advised them that I also need a REINSTATEMENT to bring my loan current because I am getting a new second loan that will reinstate my first loan and the investor is requesting a payoff and reinstatement. The payoff is for the investor to see what hes going behind and it was required per the loan terms. Never received the reinstatement. Called to follow up on it XX/XX/year> and was advised there was XXXX never ordered. I personally spoke to representative who stated they absolutely 100 % put the request in. Please pull the call. This is completely unacceptable. XX/XX/XXXX, that same day, I spoke to a supervisor by the name XXXX XXXX, and she stated that she only sees the payoff being ordered and she would PULL THE CALL. I am completely appalled that you hire employees who are incapable of doing their jobs properly. This is my property at stake.At this point, I am I requesting a postponement due to SPS, not doing what their job entails and delaying The opportunity for me to reinstate my property so that I do not lose it in foreclosure. Again, please pull the calls. 
At one point I was in a modification and paid all XXXX payments and because I paid the last payment on the last day of the month, they got it but it was " TOO LATE. '' I have been advised that if a payment was made and receivedby the last date of the month it would be accepted. All of a sudden it was not and the opportunity was taken from me. I NEVER RECIEVED THESE FUNDS BACK EITHER. Attached is also proof of that which coincides with the fact that I have done everything I can, but yet SPS still wants my property. SPS has my bank statements which also show I have proof of Funds to reinstate the mortgage as well but as we all know, I need the EXACT AMOUNT. The investor I had lined up backed out as I did not provide the reinstatement in writing to him in a timelymanner, the title company stated that even if we have the reinstatement at this point they would still not be able to release the funds to escrow in time per the deadline of the sale date. I also need to get with my financing manager to release the funds and as we all know that I need a reinstatement. I wanted to utilize the equity that I have which is well over XXXX XXXX dollars and to pay the loan off would be the amount of XXXX, XXXX.I have more than enough equity which is further proof that SPS wants to steal my property from me.I do NOT WANT TO PAY IT OFF THOUGH! I only want to reinstate it and bring the loan current. I have no other choice at this point to either pay the loan current or lose it!!! I do NOT want to have to use my own cash either if I have the equity to do a new second loan and that is regardless because SPS should NOT care how or who they receive the funds from.

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