Consumer complaint received 2025-10-22 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL

Complaint narrative:
I have already done so in this case : XXXX You have the previous details listed in this complaint For my new complaint : Subject : Complaint regarding mortgage loan servicing, misrepresentation, and possible predatory actions XXXX XXXX Property Address : XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX Loan Servicer / Lender Name : XXXX XXXX XXXX  is the original lender and they sold the loan to Select portfolio services. 
Loan Number XXXX Date of Loan Origination : [ XX/XX/year> State where property is located : XXXX  State where I reside : XXXX  Description of Issue : I obtained a mortgage for the above-referenced property ( investment property in XXXX  ) using funds from my 401 ( k ) to purchase and renovate the property. Beforeclosing, the lender represented that they would provide additional financing or roll in repair costs and that the loan would be held by them. I asked if I could roll it into the mortgage and initially he said yes but later said no we needed to hurry up and close or we might lose the loan and forced me to go ahead and close quickly. 

Shortly thereafter, the loan was resold/transferred without my full knowledge, and the new servicer has insisted on full payment with no accommodation. I was told I would be given another loan once I completed the rehab/rental arrangement, which never happened. I requested to roll the repair costs into the mortgage or to freeze payments while I completed the rehab, and the lender/servicer refused and directed me to do a short sale instead, even though I am making efforts to fix up the house and rent it out.

The servicer now threatens ( states these are the only two options ) -short sale or foreclosure, despite the fact that I was misled about the financing terms and the servicing arrangements. Because the property is in XXXX  and I reside in XXXX, I have difficulty accessing the appropriate local court systems on my own. I believe I may be the victim of misrepresentation, unfair or deceptive practices by the lender and servicer. 

I request that the CFPB investigate BOTH LENDERS, whether the lender/servicer violated the Equal Credit Opportunity Act ( ECOA ), the Real Estate Settlement Procedures Act ( RESPA ), or other consumer-protection laws regarding servicing and disclosures. I ask that the CFPB require the servicer to pause foreclosure proceedings immediately while the complaint is investigated and ensure that I have the opportunity to remain in the property or otherwise restructure the loan on fair terms. 

Desired Relief : Immediate suspension of any pending foreclosure or sale Investigation of servicing/transfer practices of the lender/servicer A fair loan modification or workout that recognizes the rehab and rental potential of the property Compensation or mitigation for the misrepresentations and financial harm I have suffered. 


I have spent money from a HELOC that I have as well as credit cards. And I am out of funds and Im at risk for losing the home. I spent over {$20000.00} on the flooring and over {$8000.00} on Countertops. Over {$1000.00} on painting and supplies and almost {$1000.00} on a plumber. I still dont have money to fix the crack in the fireplace or the boathouse which is becoming dilapidated because I cant afford to fix the leaking roof. There are many other repairs that need to be made as well. 

Also, of note, there is an over {$20000.00} penalty if I sell the house before the five year mark. They have made it impossible to try to get out from under this without losing my retirement.

Company response to consumer: Closed with explanation