Consumer complaint received 2015-10-28 00:00:00
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: VA

Complaint narrative:
SPS did not accept a valid true price of the home I am selling in short sale, they are trying to force a foreclosure. The true value is {$240000.00} at the most and they believe the value is XXXXwhen no other homes in my hood sell for that price. It all adds up to force forecloseFYIFrom : XXXX, XXXXSent : Wednesday, XXXX XXXX, 2015 XXXXTo : XXXXXXXXXXXXSubject : FW : please let me know if you got thisFrom : XXXX, XXXXSent XXXX Wednesday, XXXX XXXX, 2015 XXXXTo : XXXX XXXX XXXXCc : XXXX XXXX XXXX ; XXXX XXXX XXXX XXXX XXXX : RE XXXX please let me know if you got thisOk got it I will do what needs to be done. SPS is lost and does not get the value of the home and the hood, I still believe they are trying to force a foreclosure. 

I disagree I believe the market is closer to {$220000.00} I believe that XXXX, XXXX is too high but I will follow your lead. 


ThanksXXXXFrom : XXXX XXXX XXXX [ mailto : XXXXXXXXXXXX ] Sent : Wednesday, XXXX XXXX, 2015 XXXXTo : XXXX, XXXXCc : XXXX XXXX XXXX ; XXXX XXXX ; XXXX XXXX : Re : please let me know if you got thisReceived. I told the buyers agent about the $ XXXX valuation counter. They can withdraw or counter. I have not heard back from them. Ball in their court. 

If they withdraw, we can start showing it again. $ XXXX is too high. The fair market value of the property is closer to $ XXXX $ XXXX. 

If we do put this back on the market, I suggest re listing at $ XXXX. If we list at $ XXXX no one will look at it. 

They will have to order a new BPO the second go around. I personally think that XXXX agent sabotaged us. He was very cantankerous and combative when I spoke to him. 

So this means that we will have to start showing the home again and I recall the grief that your wife and kids had for showing the home. Unfortunately that must be done if you want to continue with the short sale process. 

Sent from my iPhoneXXXX XXXX, XXXX XXXX = XXXX XXXXXXXXXXXX XX/XX/XXXX 2015, XXXX, " XXXX, XXXX '' & XXXX XXXXXXXXXXXX & gt ; wrote : Please let me know if you got the counter offer. 



ThanksXXXX -- -- -Original Message -- -- -From : XXXX, XXXXSent : Tuesday, XXXX XXXX, 2015 XXXXTo : XXXX, XXXX ; XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXSubject XXXX please let me know if you got thisI do n't how they got these numbers the house is not worth XXXXompany respondedSPS Select Portfolio Servicing , Inc said : Explanation of closureOn XXXX XXXX, 2015, SPS submitted your account for a short sale review. We have a property value of {$350000.00} and the offer received is {$250000.00}. On XXXX XXXX, 2015, we sent you a counter offer letter, requesting that an increased offer be submitted ( enclosed ). Please send in a new HUD-1, Real Estate Purchase Contract, and Proof of Funds with the increased offer. 

We request that you or your agent return the required information as soon as possible. To expedite the processing, you may email all pages to XXXXXXXXXXXX, fax to XXXX XXXX XXXX XXXX, or mail to : Select Portfolio Servicing , Inc . 
Attn : Loan Resolution DepartmentXXXX XXXX XXXX XXXX XXXX XXXX, UT XXXXPer the Fair Credit Reporting Act ( FCRA ), SPS is required to accurately report to the credit bureaus. Therefore, we decline your request to change the information furnished to the credit reporting agencies for this loan. 


________________________________________From : XXXX XXXX XXXXSent : Monday, XXXX XXXX, 2015 XXXXTo : XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX XXXX XXXX XXXX XXXX XXXX RE : SPS problem please give them what they need this urgent!!!!! ASAP

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