Consumer complaint received 2018-03-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: SC

Complaint narrative:
We purchased our home inXX/XX/XXXX. Our mortgage was with XXXX XXXX XXXX but, it was sold to Select Portfolio Servicing. Due to the housing crash inXX/XX/XXXX as well as a poor economy we have struggled with the mortgage payments since the beginning. We own our own business. Shortly after Select Portfolio Servicing purchased the mortgage from XX/XX/XXXX we tried a modification. The process was a complete disaster. After 6 months of sending the same information to Select Portfolio ( ex : I would send what was requested, I would be told they had everything for their underwriting dept, I would check back a week later only to find out something else was needed. After 90 days I had to send a new packet and the process started all over again ) we finally gave up on the first modification and have tried to keep up with the payments. Unfortunately, we were not able to make our payment inXX/XX/XXXX. We have missed 3 payments ( we were able to make a payment last month - I was told this would keep us out of foreclosure status ).

The second loan modification was started XX/XX/XXXX. I contact SPS about every 10 to 14 days and every time I contact them there is " something else needed ''. I verify with the representative that what is needed is all that is needed and their response is " yes ''. The last time I called I was told the bank statements I sent over at their previous request did not have the deposits circled and they could not tell what deposit to look at. These bank statements had 1 deposit on each of them! and this was the deposit information they were needing. When this modification was started I was told by SPS that they had improved their modification process and had been very successful at helping their clients.

We were provided with a direct contact for each modification. It was the same woman. I don't believe she exists. We have never spoken to her. She is never there. The last time I called I asked to speak to someone in underwriting and I was told that the underwriting department does not have telephones. I was not allowed to speak to anyone in underwriting. We don't have a loan officer to speak with. Every time we call we get someone in a call center.

We have requested a modification. If this is not possible then, allowing us to put some of the mortgage payments we are behind on at the back end of the loan could be an option.

I don't believe SPS has any intention or providing a modification or a payment arrangement for us. We understand we are at their mercy. What I don't like is their misrepresentation of the modification process and how we are being treated.

We have tried selling our home in order to get out of the mortgage debt but have had no luck. Our home has been up for sale and is currently up for sale in the hopes that we can sell it before we are foreclosed on. We do want to keep our home however, if we can sell it and payoff the mortgage then both SPS and us are successful.

Company response to consumer: Closed with explanation