Date Received: 2019-07-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: History of how we came to the situation to date : We purchased our home in XX/XX/XXXX for {$420000.00}. At this time, my husband 's business with thriving and we could easily afford this and were told by our mortgage broker " that we could buy any house we wanted up to {$700000.00}. '' We thought we were being conservative when we decide on our home for {$420000.00}. At closing, we had two mortgages. The 1st mortgage was a no doc, interest only ARM for {$340000.00} ( est ) that landed with XXXX. The 2nd was a standard mortgage for {$80000.00} ( est ) with XXXX XXXX. Prior to the closing, when we expressed concern over the " interest only '' mortgage, the broker stated that we could easily refinance into a regular mortgage in a short time period. To this day, Im not sure what he did to qualify us for this but he was fired on the day of our closing. We made our ( very large ) mortgage payments faithfully and on time. In XX/XX/XXXX, our home appraised for {$460000.00} and we had a refinance scheduled to close in XX/XX/XXXX with XXXX that would combine both of our mortgages into a regular principal and interest mortgage. In XX/XX/XXXX, XXXX went under and the closing never occurred. We found ourselves in the mortgage crisis with a total mortgage payment that had now escalated to over XXXX XXXX/mo. We struggled to continue these payments and contacted XXXX for assistance to have our mortgage revised. They indicated that they could not assist us since we were not late on paying our mortgage. We then intentionally stopped paying our Mortgage in XX/XX/XXXX in order to qualify for an assistance program. While attempting to work with XXXX and thinking we were being reviewed for a program, we received a foreclosure notice for XX/XX/XXXX. As you know, during this time period, so many foreclosures were happening. We had heard horror stories about people coming home and all of their belongings were out on their front yards. We drove by many houses and actually saw this. We were terrified this would happen to us and decided to move out of our home before the foreclosure date and into a rental and were ready to just have the home taken and sold at auction. The foreclosure was stopped due to a government action at the time, stopping all foreclosures due to robo-processing. Our mortgage company, XXXX, then collapsed and our mortgage began being processed by XXXX XXXX XXXX. At this time, my husbands business went under due to the economy and we were now a one income family while he attempted to find a job. We then attempted to short-sell our home ( that we were no longer living in ). Our beautiful home that appraised for {$460000.00} a year ago, now appraised for {$280000.00}. We had a buyer and a closing date. Three days before the closing, after the buyer had invested significant money and had sold their current home, we were notified that the short sale was cancelled by the bank with no explanation. We then received another foreclosure notice for XX/XX/XXXX. We assumed that this foreclosure occurred and were moving on with our lives. However, in XX/XX/XXXX, we were contacted by XXXX XXXX XXXX. They told us that the house had not foreclosed and that we still owned it and there were new programs that we qualified for to restructure our mortgage so that we could retain our home and they were going to XXXX us the paperwork to begin the process. However, they told us we had to be living in the home. That weekend, we moved back into the house. We spent {$5000.00} on movers and had to make the house livable again after being vacant a year and uncared for. We never received a XXXX package with the loan restructure paperwork but a week after we moved back in, we received a foreclosure notice!! At this point, I contacted the Presidents Office at XXXX XXXX XXXX as they had a special team setup to assist with home retention. They did stop the foreclosure but after six weeks we were notified by them that XXXX XXXX XXXX was only the servicer of our mortgage and that our lender was XXXX XXXX ( we never knew this until then ) and that our mortgage was in a pool of mortgages that XXXX XXXX had deemed unnegotiable. Why didnt XXXX XXXX XXXX look at this before telling us we qualified for a new loan program and had us move back into the house??!! We were now two years behind on our mortgage payments and we tried everything to have our mortgage restructured. In XX/XX/XXXX, we hired an attorney and spent thousands of dollars in attorney fees in an attempt to sue, we enrolled in every possible government program and filed for Chapter 7 that was discharged in XX/XX/XXXX. Our mortgage servicing company then changed to SPS. We did not hear from them for 2 years. We again attempted to have our mortgage restructured and were eventually told it was not negotiable. In XX/XX/XXXX we received another foreclosure notice and our attorney advised us to have my husband file Chapter XXXX to stop it. We continue through the next 2 years in a constant state of worry and stress trying everything to be able to keep our home. In XX/XX/XXXX, we received a 1099 for {$71000.00} from XXXX XXXX XXXX for a discharge of our 2nd mortgage with XXXX XXXX. With this 2nd mortgage discharged, we again attempted to restructure our mortgage with SPS. If they would waive the legal and late fees, we would afford to begin making mortgage payments again. They would not consider this and in XX/XX/XXXX, we entered into the Short Sale program with SPS. In XX/XX/XXXX, we moved out of the house into a rental. Current situation and reason for complaint : We have found a buyer that offered SPS {$310000.00} for the house. SPS sent a realtor to do a BPO ( not a true appraisal ) which came back at {$390000.00}. SPS declined the offer. The buyers had an independent appraisal done which came back in the low $ 300s and they also provided a list of repairs needed to the home. The buyer then raised their offer to {$340000.00}. SPS again declined this offer. We requested that SPS have a true appraisal done on the home. We received a letter from SPS dated XX/XX/XXXX saying that the short sale has been declined. However, it appears that one department was not speaking with the other and the appraisal that was requested by SPS was conducted on XX/XX/XXXX. In the meantime, we received another foreclosure notice with a sale date of XX/XX/XXXX. SPS received the appraisal on XX/XX/XXXX. The house appraised for {$310000.00}. ( Just a note that a house 2 doors down from ours, just recently foreclosed and was sold at auction for {$280000.00}. ) We contacted SPS and even though they received this appraisal that they requested and that is {$34000.00} lower than what the buyer is willing to pay, they refused to consider the short sale and would not stop the foreclosure. The agent assigned to us said to me Im not supposed to tell you this but you can file bankruptcy to stop the sale to give us more time. My husband went to the courthouse today. On his way there, he called SPS again in an attempt to have them consider the short sale and stop the foreclosure. They are stating that they are acting on behalf of the Lender, XXXX XXXX and XXXX XXXX is refusing to Short Sale. Since they refused, my husband filed Chapter XXXX today to stop the sale. Needless to say, his credit is ruined for a very long time. We are good people that have found ourselves in an impossible situation. The most recent monthly mortgage statement we received from SPS shows that we owe {$350000.00} but they are saying we owe them over {$500000.00} with attorney and late fees. If XXXX XXXX XXXX had not convinced us to move back into the house in XX/XX/XXXX and the house had been foreclosed on then, we would be well on our way to a new credit life. Our only desire was to raise our children in our home ( paying for it ) and have a normal life. We just want to move on and know that our house ( which was truly a home to us ) is going to a family that really wants it. We dont want to have our home foreclosed on. Now, there is an opportunity for SPS ( XXXX XXXX ) to sell the house for {$340000.00} which is more than they will ever get in a foreclosure and they refuse to do so. With the interest only mortgage payments we made for over {$130000.00} and the short sale, they will have received {$460000.00}. We need assistance with negotiating a short sale and a waiver of the deficiency balance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30152
Submitted Via: Web
Date Sent: 2019-07-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: First, I would like to comment, I have been filing complaints since XX/XX/XXXX Complaint Number : XXXX. S.P.S. is totally disregarding all complaints and NOT ANSWERING, my concerns. The last complaint was closed out with, CALL OUR FORECLOSURE LAWYER. This kind of behavior is UNNACCEPTABLE, S.P.S. seems to not understand the complaint, or choose not to, and we let these companies take hard working people 's homes from them? Complaint 1, Why did you S.P.S. close out the account in XX/XX/XXXX, with the Credit Reporting Agency, XXXX, as, DEED IN LIEU OF / BANK LIQUIDATION. ( see attached photos ). Complaint 2, I had the Attorney Generals office of XXXX XXXX, fax over to S.P.S. ALL of my financials and you S.P.S. do not even acknowledge getting them other than in the last answer to my complaint you stated that they were not ledgeable. Impossible as they were mailed out to the Atty General 's office and then you, S.P.S. NEVER NOTIFIED ME, that you got them nor requested additional copies as YOU, S.P.S. had no intentions on working this issue. Oh, I did call YOUR LAWYER, S.P.S. and they told me that YOU, S.P.S. tell your customers ALL THE TIME TO CALL XXXX and XXXX, I did speak to them this morning, XX/XX/XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 232XX
Submitted Via: Web
Date Sent: 2019-07-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-30
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: On XX/XX/XXXX, I received information XXXX XXXX, via Select Portfolio Servicing , INC is attempting to fraudulently assign mortgages XXXX, XXXX and XXXX to XXXX XXXX and XXXX XXXX XXXX, Mortgage-Backed Notes Series XXXX. This assignment was electronically recorded by XXXX to the XXXX County Clerk in New York State on XX/XX/XXXX. How is it possible to assign a mortgage from two deceased persons? XXXX XXXX XXXX, my father, died on XX/XX/XXXX. XXXX XXXX XXXX, my mother, died on XX/XX/XXXX. My father 's estate is currently being probated and remains open, and is dated XX/XX/XXXX ( File # XXXX ). Neither XXXX XXXX nor Select Portfolio Servicing , INC has made a sufficient claim ; even after my numerous requests as the estate 's executor. Secondly, XXXX XXXX and Select Portfolio , INC is attempting to foreclose on property in which they do not have a security interest in. On XX/XX/XXXX, XXXX ( XXXX XXXX ) stated they sold the loan to XXXX XXXX XXXX Effective XX/XX/XXXX, yet has failed to provide any proof of endorsement or assignment. I am seeking a cease and desist on all assignments and formally requesting a copy of all submitted assignments any any endorsements associated with this transaction. I will be providing a copy of this request to the New York State Attorney General as well as XXXX XXXX XXXX, Surrogate Acting Supreme Court Justice.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-28
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: After repeatedly sending information regarding ownership of property that was previously owned by my deceased father, Select Portfolio Servicing keeps telling me that I have not sent the required information to determine that my company now owns the residence. I've sent documentation including his death certificate, his will, the LLC documents, and multiple copies of the deed with my company name on it. Every time I call they just keep telling me my case has been referred to an attorney and that they can't talk to me because I haven't given them proof of ownership. Then they took out insurance on the property and billed that to us as well. Every time I send them legal documentation they claim it's " not showing up in the system '' even though I get emails saying that they received the information and even though my name is literally on the mortgage statement that comes every month. I keep getting the run around. It's been 18 years since my dad died and I still can't get them to acknowledge my ( and my brother 's ) ownership of the property. They say they want to set up mortgage payments for us but based on all the complaints about this company and the fact that the mortgage rate is at 9.45 %, which is usary in my opinion, this entire company seems like a fraud. I've let them know that I'd like to talk to someone about settling the debt but they won't talk to me about that. I keep getting the run around.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30307
Submitted Via: Web
Date Sent: 2019-06-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I spoke with Select Port Folio, XXXX XXXX Loss Mitigation today XX/XX/2019 about my mortgage assistance application. I was informed that they have not reviewed the mortgage assistance application or financials because the foreclosure sale date is less than 30 days Foreclosure sale date is XX/XX/2019.it is more than 30 days before the sale date Select Port Folio is not willing to assist me with keeping my home or review my documents. I have not received a denial letter for my recent application but I did resubmit the mortgage assistance request again today with financials. I need Help I don't want to lose my home Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 383XX
Submitted Via: Web
Date Sent: 2019-06-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am writing this because I need a lot of help. I modified my home loan with SPS loan number XXXX property address is XXXX XXXX XXXX, XXXX XXXX XXXX. I did my first modification in XX/XX/XXXXXXXX XXXX XXXX gave me a 5 year modification and my payment was going to stay at the low payment of 1800 approximately and XXXX for the life of the loan after the 5 years. However In XX/XX/XXXXXXXX XXXX from XXXX XXXX called me and persuaded me to do a new Modification in XX/XX/XXXXthat took me out of the 30yr plan i had before. The payment did drop the payment a little but the bigger problem was that it gave me a variable loan again starting this year with no 30 year option. After I did my second loan modification I was told my loan was sold to SPS Servicing and its been a mess dealing with them. I was advised by my new loan officer that starting XX/XX/XXXXmy payments jumped up to {$4200.00} instead of the {$1600.00} that I was used too. I cant make that payment!! I am already late for the month of XX/XX/XXXXbecause I didn't want to believe that my payment went up that high and now at the end of XX/XX/XXXXill be 2 months late. I'm XXXX years old when XXXX called me in XX/XX/XXXXI was XXXX I am too old to be convinced of something that is not good for me. I wish I would of never answered that phone call from XXXX telling me that they had a better modification for me. So the new Loan officer I have says that I qualify for A Veterans loan I am a Veteran of the XXXX. However now that I have this new 30 day late on my mortgage I don't think I qualify to do a home loan anymore. I am going to loose my home, I honestly don't know what to do if that mortgage late hits my credit. The rate jumped up from 4.5 % to 7.5 % that is way to high, I can not believe that a bank would do this it seems like they want me to loose my home. The VA loan would give a 3.875 30 year fixed with no Mortgage Insurance the payment is perfect to what I can afford. I am XXXX years old please help me I am begging you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 93065
Submitted Via: Web
Date Sent: 2019-06-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage was with XXXX XXXX - XXXX, VA until XX/XX/2019 at which time I was notified that the loan processing was being transferred to SPS ( Select Portfolio Servicing - XXXX XXXX XXXX, UT ). I was notified by XXXX that they would stop accepting payments from me after XX/XX/2019. However because my payments were setup by XXXX to be electronically paid I assumed that electronic debits would also cease after the XXXX payment was made. This turned out not to be the case. XXXX debited my account for the XXXX payment. Because the loan processing was changed to SPS I contacted them to discuss the XXXX payment and sent the XXXX payment myself using BillPay an electronic bill payment service provided by my bank. Shortly thereafter I noticed that XXXX had also debited my account for the XXXX payment. I contacted XXXX and ask for a refund. They informed me that by law any monies they collected had to be sent to SPS. So, I contacted SPS and ask for a refund. This was XX/XX/2019. SPS acknowledged the over payment and told me it would take a week to ten days to issue a refund. After expressing the hardship the double payment had caused SPS told me that if I could contact my bank and get proof of payment and email it to them I could get a refund in 2-3 days. I did this immediately sending it to XXXX as instructed and awaited the refund. No refund was forthcoming. After waiting a week, the initial waiting period, I contacted SPS again and expressed my displeasure at being lied to twice now and demanded some action be taken. They acknowledged the double payment and the clearing of both checks but still demanded that I send them a copy of my bank statement. I ask what purpose the bank statement would make seeing they already knew that both payments had cleared the bank. The agent informed me that that was company policy and that to receive my refund I must comply. I became livid and demanded to talk to someone who had the authority to resolve the problem. After waiting a few minutes the agent came back and informed me that I could expect a refund in 48-72 to hours and that the refund would be credited to my account electronically. Well its been 96 hours and I still haven't received my refund. Here it is the XXXX of the month and I again called SPS to inquire about my refund. Their response, " It's in the mail! '' Both payments were made electronically but they said " because I paid with a check, they had to return the refund by check ''. Lie after lie after lie. Anything to hold on to my money and take best advantage of having it for 30 days. To XXXX with me and the affects those 30 days have on me. I don't know what our financial situation is but I would ask you to consider your plight if all of a sudden you realized that two mortgage payments had been deducted from your checking account. If I had to face this problem alone the ramifications could have been both embarrassing and costly. The affects on the mortgage company ... I think it's time laws were put in place to protect consumers from the costly mistakes made by lending institutions and the affects it has on them. Lending institutions protect themselves with late payment fees, interest penalties, credit ratings, etc. We the consumer have no such protections when we have to face the financial affects caused by mistakes made by the lenders. All I've ask for is my own money to be refunded. I'm sure at some point I will get it back but in the meantime look what I've gone through with no results so far.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 37421
Submitted Via: Web
Date Sent: 2019-06-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We were told the the documents have been tagged complete on XX/XX/2019 and it would take up to 30 days. We have checked for updates from time to time and the file is still in review. But then, they provided us another information stating that the documents have been tagged complete on XX/XX/2019 and now the decision will be made on or before XX/XX/2019 which is way longer than what we have informed the first time.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 20772
Submitted Via: Web
Date Sent: 2019-06-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-25
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: SP Servicing, I am starting to get threats from you again about foreclosure on my home. I can not see why I should be still paying for a loan of {$25000.00} since XXXX. My home was paid for. But I decided to borrow this money to start my own business.This loan was not suppose to be a mortgage on my home, but a personal signature loan.As of I have been chasing this loan for 20 years. Each time this loan changes banks the amount stays the same. I never got a balance of the account because it never moved from the original amount on the statement of {$34000.00}. Now it still sits at {$35000.00}. This is unfair to me as a consumer. It has messed up my credit and I have this hanging over my head daily. Stressed. I am now XXXX years old living on a fixed income of {$700.00} a month, XXXX with a severe XXXX XXXX XXXX in my back. You accepted this loan from XXXX XXXX and they got it from XXXX XXXX, who got it from XXXX XXXX and others. All total before you got this mortgage I have paid ( including bankruptcy in XXXX house only ) XXXX for this loan and it is still on going. I need the original deed to my property from the start of this loan. Can you provide me with the original loan contract where the transaction occurred? I feel that I have paid enough money on this house and on that loan.Now, you have people coming by my house taking pictures I should have finished paying this loan years ago before you got it. This loan was originally meant for 7 years repayment, and went from there to 20 years long.I do not owe any more money on this property. I am seeking legal assistance to battle this issue for me in my defense. When the bank crashed in XXXX I was put in a 30 year repayment plan to XXXX without my knowledge. When I asked why I was paying for this mortgage for so long XXXX said that I was repaying a {$120000.00} mortgage on my property. XXXX sold it to you and now I suppose to be paying you {$35.00}, XXXX.to this day. I know that I have been a victim of a predatory loan situation because of the multiple moving of the bank mortgage. I am aware that mortgages are transferred or sold to different banks during the length of the loan until it is paid off However, I have never reached the end of this loan yet. It is a shame for poor people to be treated this way by banks and other financial businesses. I need for this to be resolved and be allowed to stay in my home free from harassment. I don not owe any more money for this house. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MS
Zip: 39120
Submitted Via: Web
Date Sent: 2019-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-06-25
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We purchased our home in XX/XX/XXXXand XXXX was original mortgage servicer. After 2 years, in XX/XX/XXXX, my husband lost his job and we were trying to get a loan modification. XXXX XXXX XXXX took over our mortgage and we were successful in getting a modification but right after our modification - our loan was sold to different servicers at least a half a dozen times. Fast forward to current and we continue to struggle to pay down the mortgage balance because in the modification change process with all the different servicers, the interest we pay on the second mortgage is 11 % and is set for 50 years! We would never have agreed to these terms!! Our primary mortgage is at 5 %. This was all a result of the initial XXXX modification but we arent making a dent in our overall balance and we cant seem to get out of this interest rate because it was someway and somehow generated with one of the many servicers that we couldnt keep up with all the different companies to track down which one changed the interest rate and terms. It was only after speaking with someone about this and just my overall frustration with our mortgage today - and that they recommended we report this because this is defined as predatory lending and if there isnt a clear track of all the servicers and the changes, it needs to be reported. Please help us!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48312
Submitted Via: Web
Date Sent: 2019-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A