1. the more they get you to owe, the more they will collect when and if you give up your property.
heres how, your mortgage has insurance on it but not to cover you, when you walk away from your home or give it up. they collect up to 80 to 85% of the mortgage that is due. Exsample I owe $500.000.00 I give up the property or they forclose, the insurance company pays them 80% or $400.000.00 of the original mortgage. And when the property is sold they pick up whatever it sold for, Like they have told us our home is only worth $280K, if it sells for that, SPS will have collected $680.000.00 for my home that only had a mortgage of $500K, GET IT NOW!
And the longer you hold out and do not make any payments the more they will make!! So they love you.
Remember this never give them all of your income, because they will base your modification on your income and use the guidelines to their advantage. also on your enitial application or a new application, what I recommended is pay and Attorney a $100.00 to go over your app and make sure all is there and have him/her to certifie and mail from his office, not as your represenitive. But rather a verifier to the fact that all information requested/ needed has been sent, You should do this with any additional documents as well.
Make reports to BBB Better Business Bureal, tell them what they are doing to you, you can file your complaint on line. File a complaint with the Department of Justic, let them know you believe there is fraud or something criminal happening MAYBE!
Something I'm starting to do is send fax and emails to the employees, telling them they are helping to put families on the street by doing these companies dirty work, we need whistle blowers to come out.
My letter / fax/ email, is not arguing or cursing at anyone, I just ask them to do the right thing and tell someone what there company is doing to enrich themselves by causing finacial hardship and helping to tear families apart, Ask them do not tell them. And with GOD grace someone will speak out, it only takes One to start a fire.
I plan to fight until I die, I plan to go to Washington, if neede I will go to UTAH to make my point, call your state and federal represinitives and tell them what your going throgh, Remember the squikey wheel gets oiled, Good luck and I hope what I have told all of you help's.
I've been battling SPS for almost 3 years. Trying to save my house. If there is actually going to be a class action law suit against them, I would like to join it.
I have experianced pretty much the same issues as everyone else here with them.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
When a class action law suit is started please include me. I owe more on my house now than when I bought it for in 2001.
Beneficial turned my loan over to SPS without my knowledge. I have had nothing but headaches from their fraudulent acts. I will never get my home paid for.
I have never missed a payment, but they say I have, but can not come up with the date to qualify that.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
I’m not even giving it one star! We’re in the lockdown and they gave us a forbearance- haha! I was worried about being asked at the end for a balloon payment and asked repeatedly to each representative if that would be the case. They each reassured me that by no means would that happen as they realize the situation. Well, lo and behold, when the forbearance ended and I resumed payments, two months in I received a letter saying that I needed to pay $47,000 immediately if I intended to keep my home! Of course, I was a mess but persisted and told them I’d had my house for 34 years and am 65 and had no intention of leaving. I’m two months into this fight and just applied for the CAmortgagerelief program of which I was accepted only to be told that SPS did not join that program! Unbelievable! I will be reporting them on a state and federal level. I also called the CAmortgagerelief program and asked them to look into this! They seemed to be confused regarding this as well. It’s criminal that they’re trying to get away with this! Perhaps, with them looking into this unseemly behavior things will be uncovered! That means those of us under them are just being left high and dry!
Our Moragae was sold by Citi to SPS. Everything went live May 1 so when I called they was not going to honor our contract with Citi where our morgage would be drafted by weekly. So I mailed a payment to them in UT the same day I mailed another loan payment to UT well the other one in 3 days was post no problem this one nope 10 days later I called them and they used the excuse there system was not fully ready. Well news flash I worked 20 years in finace went through 3 mergers and one being internaitonal so I know the day they took over they had all our inforamtion no quesiton but they still 3 mth later use that as a excuse.
We are way a head so we took June to work on so stuff. We get a letter saying they are going to set up direct draft no fee we need to fill out this paper and fax are mail to them so we faxed it over not once but twice. So to my surpirse they did not draft the first of July like we ask for it start. I call they never recieved anything I read them a letter they send confirming they got it and it was being processed. Still no where could anyone find the paperwork I talked with 3 of the rudest people you can imagine and three of the most lost people ever. Then I was informed they are not going to post my payment as payment they will be done as CR so I will not have them show on my account the money will go into a holding tank and when they draft the second on they wiill them post both. Do your reserach people this is illegal by law you have to post any payment received in 24 hours.
Then I get a letter today 2 weeks later they are going to start drafting my payment bi weekly like we ask funny where did that come from remeber you never got it. We called because we want to insure they are not screwing us oh the payment want start drafting until Sept 4. I logged into our checking account to find they started drafting it today. So no one up there has a clue what they are talking about and no one has a clue about loans. When you have a fixed rate loan say at 6 % that is broken down into a daily rate and added daily why do you think when you pay off early they need a date. Well they say oh theres don't work that way well I know for a fact it does and when you are not post my payment right when you get it I am getting charge that interst. I hate this company and will be taking care of all this add interest we have accruded. As we found out the payment in May has never been total posted to our account until tonight 3 month later. I need blood pressure meds just to talk to this company.
Fraud was done by SPS. They forged my Trustee Deed replacing pages with the fake ones. Later when I sued them they admitted an error occured but I have prrove it was intentional. They tried to steal the adjacent land to my property which doesn't belong to them at all. Per court settlement they released that land but as a revenge against me now they want to take my house (as a Trustee Sale). Please, help me.
My mother just found out her mortgage was sold to sps which she has yet to receive any payment information and now received a letter asking if she was going to dispute the debt and something about her being default which we can't understand due to her being up to date on payments until this. we had a house fire in march bring the upstairs and damaging the first floor. Right after that she was asked by caliber who had her loan if she had any leins or other mortgages on the property. Which we thought was odd myself and my bother had been helping my mother due to her loading our father just last yeah and loosing his income. Now I read all of the reports and we definately want to be part of any lawsuit these scum need to be stopped from preying on good people it's crazy how they can do this and it needs to stop
In January 2003, we were financed with a "interest-only" 80/20 mortgage. Our payments consisted of interest portion only and made it possible for us to obtain a larger home for less money per month. Our loan was attached to a balloon payment which would be due 10 years from the initial date of the loan. Our plan was to sell or refi at that time.
However, in January 2013, our two income household became a one income housesold since the company which my wife worked was sold and laid all the employees off permanently. For the next 6-9 months our finances were very tight. During this time, I saught after a loan modification due to the layoff and decrease in our income. Our mortgage at that time was with JPMorgan Chase and had a perfect payment history. Never late!
Well, as fate would have it....the balloon note came due and the modification wasn't happening fast enough. It's 6/11/15 and we still have not finalized the mod. Mainly because we have since done research and found out about the Civil Action Suit that was taken against JPMorgan Chase. We now realize the activities of SPS mirror the exact situation many found themselves in while dealing with Chase. We are seeking help to keep our home.
Chase started the modification, but midstream handed us off to SPS 6/2014. The modification that was offered to us increased the payment, and shortened the term. Obviously we could not agree to such terms. For years, we both carried between 772 and 683 credit scores. We are now in the 500's. Our credit is ruined, we are receiving foreclosure letters, phone calls right and left, and our insurance has been cancelled on the house.
The thing is...we were never late on our payments when we inquired about the modification. We were only inquiring to prevent the very thing that has/is happening.
We were advised NOT to make payments during the processing of our modification. "advised against it" I know, we were in disbelief too. But, we followed their advise. Our payments were starting to show late. Our credit score started to drop. We were being put in the position, sign the modification or lose the house.
We have since been told, we have to pay $13K to catch up arrearage and added fees. We are currently paying bi-weekly payments to SPS above the amount due per month to help us catch up. However, this last week we received a certified letter mentioning foreclosure still.
We need legal advice or something. There has to be a way for us to keep our home and get our credit back. Please help!
My wife and I both lost our jobs at the same time about 6 years ago. Select portfolio servicing had already purchased our loan. We contacted them about a principal reduction modification so we could afford to keep our house. We were instructed to skip payments to get process started, so we did. We then entered a trial phase with a ridiculously low payment for 3 months. I should have saw a problem because we never missed before but was a good faith payment plan. Then it fell through 1 more time and were approved on the 3rd 3 month trial. We had original Balance on our home of $279,000 paid the mortgage 5 years before modify. Our balance upon starting the modification was $238,000. We now have an interest bearing principal of $76,000, but our new principle balance is $315,000. To help us out we were nailed with $50-75,000 in fees. We now want to move and can not sell without wrecking our credit through a short sale. How do I join the suit?
After reading all the other complaints, mine will sound just exactly the same. We've tried for five years to do a re-mod and they kept requesting more documents.
We are in foreclosure now, and have someone interested in buying our home,but we can not get them to mail us a payoff amount.
I would be a part of a class action law suit in a heart beat. This company has given us the run around and it has been extremely stressful living with all of this over our heads all the time!
Our mortgage was transferred from HSBC to Caliber Home Loans with an escrow amount of $854. Made all payments on time. Mortgage was then transferred to SP Servicing who stated we are 3 months in arrears, plus owe additional monies for taxes, insurance, etc. totaling approximately $11,700. Applied for loan modification and their offer was to reduce monthly payment from $1895.40, which does not include taxes or PMI, to $1627 and include taxes and PMI. We would pay $1627 monthly for the remaining 410 months of our original mortgage agreement and at the end of the term in April 2026 there would be an additional balloon payment of approximately $153,000 due if we chose to keep our home. Mortgage servicer cannot explain how we went from having an escrow credit to being months in arrears when all payments have been made. Repeated attempts to have the account research but request is always closed out after 4-5 days because SP Servicing states we did not provide them with needed documentation, despite no documentation having been requested. SP Servicing has the complete payment history of our mortgage so I do not understand how or why they cannot rectify this account.
SPS says they want to help with your mortage problems but thats a lie - They make you jump through hoops filling out pages and pages of forms - supplying months of bank records and paystubs only to deny you any mortage modification
They buy up past due loans from companies like Chase and immediately put you in default status - sending letters weekly demanding payment and threating legal action - having 3rd parties come on property leaving threating notes all the while calling you at all times day and night.
This "company" is no better than the scum-sucking collection agencies of boiler-room days - They want to foreclose - kick families out into the street just to recover .10 on the dollar. I am 5 payments behind and asked to put those payments at end of the loan since I can make my monthly payment but they refused - told me to file bankrupsy since I can not pay my bills - This from a minimun wage hack sitting in a strip mall office on a phone.
Shame on you - SPS. Its companies like you that make us all sick.
My mortgage with my mortgage company was sold to Select Portfolio Servicing, Inc beginning 1 September of 2014. I had a terrible time trying to figure out who or how to pay them. The house was put on the market the end of September 2014. I paid escrow to them for taxes and insurance. The funds from the previous mortgage company transferred with the sale of the mortgage. I made September, October and November payments to them. I sold the house 1 December 2014. They had just paid the insurance to my company, however they are required by Kansas law to return the funds to the mortgage company. I have called them and emailed them several times with no luck. They told me that they have sent the 1098 for 2014 as well as the check but that it was returned twice. They were to fax the 1098 after the last call on April 6. I have not yet received either.
Ever since JP Morgan Chase sold me to SPS. it has been a nightmare of paperwork. The amount of documents I have mailed to this company could fill a truck, they have you send same stuff over and over. I have begun uploading on their site and that is becoming a nitemare, all I want to do is a modification. How can you lose paperwork over and over and over again, very stressful!!!
Select Portofolio Servicing are the biggest fraud scumbags to ever be allowed to be lenders. I was waiting for a loan modification for 1 year , they always lost my papers and i had to send them new ones all the time. They only called me once in a while. Finally i received a answer from them that i wasn't qualified for a loan modification and my mortgace payment is mutch higher. They put me on a trial period for three months and they can not tell me the interest on my morgage only after i make my 3 months trial period payments. I think they just want my money and after that they are going to forclose on me.
They are thousands of people who wants to take this company for a lawsuit.
SPS is the Servicer of our home in Ca. US Bank is the Trustee. SPS has serviced since 07. Our home was severly underwater in 2011. Therefor a HAMP modification took place. After months of slow response, we were given a Modification. Ufortunately it was definetly a band aid on a bullet wound. We had no choice than to take the Mod. Getting out of this Mod was a huge focus by 2013. Intrest rates were super low and valuse were on the rise. A second attempt of a Modification that would be more traditional was a hope. A second Mod attempt started. No one would help unless we were falling behind. I made attempt of a Hamp but the loan was not FHA. SPS required us to be delinquent. Here we are 15 months later and two Mod denials. Taking 15 months to modify a loan is absurd. All documents were asked for and sent to them with in 3 days. They took 4 months on one occasion to here results. My diligance and phone calls got nowhere. Now that the loan is over 12 months delinquant, they are asking we come current with the loan before and or if they can help.
Had SPS be a little faster is the process, We would have wrapped this up in under 3 months. Seems my only avoidance of forecloser, was being involved in the Mod process. Now Im outside the Servicer parameters and guildlines.
What to do.....With I could deal directly with US Bank...
It started with Ocwen. They changed my interest amount and due date. Tried for 6 mos to correct. Sent all paperwork they required. They kept telling chase had not yet sent proper docs. IL state atty was contacted by me and 4 more mos later finally they fixed it. Then they wanted more tax money and constantly calling. Then SPSERVICING took over loan. Money showed up in my account. No explanation no nothing. I thought ok it's a settlement. 3 mos later I get letter saying I am delinquent. 3 mos more I am told 2 mos delinquent. 6 mos later 3 mos delinquent. I just do not understand why a company can get away with such creative financing. It is illegal and aggravating. I want retribution and I want to shut them down. Thank you chase for all the harassing calls. Chase started this mess they should clean it all up
I started with Litton loan then chase then ocwen and now spservicing. The only good thing that has happened with the last change us I can understand their English and that is it.
This company raised my mortgage from 524.96 to 925.00 without my knowledge they have reported this to my credit report incase I dont pay in full and is affecting my score until I do something about it. I have no choice.
before this I fell behind because I was unemployed for 6 months contantly harrassed from 8am daily Mon- Sun till 9pm I recently caught up and gave them 3600.00 so my I can fix my credit, but now they included my escrow balance.
I am so fed up with these people eho do not know what they are doing. Do they really know the meaning of a affordable mortgage? They are rip off, and want to get as much money from the homeowner as possible. I did an affordable mortgage modification, and they are giving me an interest rate of 9.47 %. They are not acting in good faith and should be penalized for giving consumers fraudelent payments. They are charging exhuberant interest rates,which is against the law right now and when I call them they are telling me to sell my house in short sale. They call every day, to upset me. They are like the devil who is trying to put fear into my mind.
But I know their crookish behavior should be stopped and must end now. Therefore I am writing to let everyone know how they are, they are a bunch of thieves, who is trying to rip off the consumers. I need to know their License numbers, are they really a bank or a collection agency.
If there is any attorneys who know these crooks, please let the consumers know.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
My son's father passed away last year. My son became ex-acuter of the estate. SPS has given him a list of late charges but can not explane what all the late charges are for. They say that some are for unpaid taxes and insurance and some are late payment charges. However, they can not tell us how much is for what, and when. Also, several years before the estate owner passed so did the estate owner's wife. Shortly after her death he filed for the government loan modification program to help get back on track and lower his mortgage payment so it would be managable with less income. After many attempts and many faxed documents of the same things over and over and a change of "relationship managers" three times he was eventurally denied after 10 months. I know this because I was the person doing all the financial work for him during that time and I am also the mother of his son. I was his first wife. Now my son gets calls from SPS on a daily basis about late charges that are not acuratly or clearly explaned and when my son questions them they become defensive stating they are recording the conversatons. My son has replied that he also is recording the conversation but they hang up on him and call back on another day. They harrass and will never give the same answer twice nor, does my son speak with the same person twice. I know for a fact that all the taxes and insurances were paid while I was living here, and have documentation to prove this. I have even sent them proof of this. Nothing seems to work with these people. They make up bogus charges and harress us for payment beleiving we fear all the forclosure notes they send will force us to pay faster. We are sick of their bulling tactics. We want to join a class action suit against them. We beleive they have bogus charges that have been going on for the years they have owned the loan.
SPS bought our home loan and has now stated that we owe all deferred payments that were part of a loan modification with our original mortage company, SPS appears to be a Collection Agency more that a mortgage company, their tactics are similar.
I want in on the class action lawsuit, please kee me informed on progress
I needed to modify my home loan due to financial problems. SPS who is the service provider for Bank of America, offered to "help" me with my loan modification. For17 months they advised me do not pay my mortgage and they would handle ALL of the modification once I gave them the necessary paperwork. So I did the paperwork I a timely fashion and they said I qualified. But then, the had a computer glitch that lasted for 17 months, they were unable to get me the paperwork for me to confirm the modification. As i found out later, what they and BOA were doing was making sure I did not meet the federal requirements BUT would meet their program requirements. So I made 4 trial period payments on time instead of just 3 they required to show I was serious about keeping my home. I finally received the loan documents, my payments went up approx.$200.00 a month. And although the computer glitch was THEIR problem, I no longer owe $46,000 I now owe $102,000.00 thanks to interest, penalties, escrow, etc. I saw that I am entitled to money under the settlement that BOA made with the DOJ, but BOA said SPS will contact me about the money due me. SPS said BOA will contact me. Typical runaround so they both keep the money & I lose out. I have contacted the US Attorney General and Consumer Protection, as well as posted an ad for an attorney. If you have a loan through BOA which sold my loan to Equicredit and is serviced by SPS get yourself an attorney!!
This company keeps posting door tags on the door knob of my property in Indian Wells. CA. I have no loan,
I have clear title and a title policy. I called SPS., they could not find anything in their records concerning my property after I gave them my address. I refused to give them my social security number or any other information. They schedule an auction for my property in my county. Evidently, no buyer's paid the price they were asking. I asked them to stop hanging tags or trying to contact me.
I Am a victim of predatory lending. I have a mortgage interest rate of 7.75%. Despite paying my mortgage on time I have been unable to lower my interest rate. Last year I paid $31,00 in interest and $600 towards principal. At this rate I will be DEAD before I own my home.
Please, please help me! Nobody cares at SPS all they want is to rob my money and make sure I will never own my home.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Select Portfolio Servicing, Inc. Reviews
1. the more they get you to owe, the more they will collect when and if you give up your property.
heres how, your mortgage has insurance on it but not to cover you, when you walk away from your home or give it up. they collect up to 80 to 85% of the mortgage that is due. Exsample I owe $500.000.00 I give up the property or they forclose, the insurance company pays them 80% or $400.000.00 of the original mortgage. And when the property is sold they pick up whatever it sold for, Like they have told us our home is only worth $280K, if it sells for that, SPS will have collected $680.000.00 for my home that only had a mortgage of $500K, GET IT NOW!
And the longer you hold out and do not make any payments the more they will make!! So they love you.
Remember this never give them all of your income, because they will base your modification on your income and use the guidelines to their advantage. also on your enitial application or a new application, what I recommended is pay and Attorney a $100.00 to go over your app and make sure all is there and have him/her to certifie and mail from his office, not as your represenitive. But rather a verifier to the fact that all information requested/ needed has been sent, You should do this with any additional documents as well.
Make reports to BBB Better Business Bureal, tell them what they are doing to you, you can file your complaint on line. File a complaint with the Department of Justic, let them know you believe there is fraud or something criminal happening MAYBE!
Something I'm starting to do is send fax and emails to the employees, telling them they are helping to put families on the street by doing these companies dirty work, we need whistle blowers to come out.
My letter / fax/ email, is not arguing or cursing at anyone, I just ask them to do the right thing and tell someone what there company is doing to enrich themselves by causing finacial hardship and helping to tear families apart, Ask them do not tell them. And with GOD grace someone will speak out, it only takes One to start a fire.
I plan to fight until I die, I plan to go to Washington, if neede I will go to UTAH to make my point, call your state and federal represinitives and tell them what your going throgh, Remember the squikey wheel gets oiled, Good luck and I hope what I have told all of you help's.
I've been battling SPS for almost 3 years. Trying to save my house. If there is actually going to be a class action law suit against them, I would like to join it.
I have experianced pretty much the same issues as everyone else here with them.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Class Action starting NOW!!!!!!!!!!!!!!!!!
Join In...................
SPS is nothing but a scam
When a class action law suit is started please include me. I owe more on my house now than when I bought it for in 2001.
Beneficial turned my loan over to SPS without my knowledge. I have had nothing but headaches from their fraudulent acts. I will never get my home paid for.
I have never missed a payment, but they say I have, but can not come up with the date to qualify that.
Thank you.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Class Action starting NOW!!!!!!!!!!!!!!!!!
Join In.
Scam artists
I’m not even giving it one star! We’re in the lockdown and they gave us a forbearance- haha! I was worried about being asked at the end for a balloon payment and asked repeatedly to each representative if that would be the case. They each reassured me that by no means would that happen as they realize the situation. Well, lo and behold, when the forbearance ended and I resumed payments, two months in I received a letter saying that I needed to pay $47,000 immediately if I intended to keep my home! Of course, I was a mess but persisted and told them I’d had my house for 34 years and am 65 and had no intention of leaving. I’m two months into this fight and just applied for the CAmortgagerelief program of which I was accepted only to be told that SPS did not join that program! Unbelievable! I will be reporting them on a state and federal level. I also called the CAmortgagerelief program and asked them to look into this! They seemed to be confused regarding this as well. It’s criminal that they’re trying to get away with this! Perhaps, with them looking into this unseemly behavior things will be uncovered! That means those of us under them are just being left high and dry!
Our Moragae was sold by Citi to SPS. Everything went live May 1 so when I called they was not going to honor our contract with Citi where our morgage would be drafted by weekly. So I mailed a payment to them in UT the same day I mailed another loan payment to UT well the other one in 3 days was post no problem this one nope 10 days later I called them and they used the excuse there system was not fully ready. Well news flash I worked 20 years in finace went through 3 mergers and one being internaitonal so I know the day they took over they had all our inforamtion no quesiton but they still 3 mth later use that as a excuse.
We are way a head so we took June to work on so stuff. We get a letter saying they are going to set up direct draft no fee we need to fill out this paper and fax are mail to them so we faxed it over not once but twice. So to my surpirse they did not draft the first of July like we ask for it start. I call they never recieved anything I read them a letter they send confirming they got it and it was being processed. Still no where could anyone find the paperwork I talked with 3 of the rudest people you can imagine and three of the most lost people ever. Then I was informed they are not going to post my payment as payment they will be done as CR so I will not have them show on my account the money will go into a holding tank and when they draft the second on they wiill them post both. Do your reserach people this is illegal by law you have to post any payment received in 24 hours.
Then I get a letter today 2 weeks later they are going to start drafting my payment bi weekly like we ask funny where did that come from remeber you never got it. We called because we want to insure they are not screwing us oh the payment want start drafting until Sept 4. I logged into our checking account to find they started drafting it today. So no one up there has a clue what they are talking about and no one has a clue about loans. When you have a fixed rate loan say at 6 % that is broken down into a daily rate and added daily why do you think when you pay off early they need a date. Well they say oh theres don't work that way well I know for a fact it does and when you are not post my payment right when you get it I am getting charge that interst. I hate this company and will be taking care of all this add interest we have accruded. As we found out the payment in May has never been total posted to our account until tonight 3 month later. I need blood pressure meds just to talk to this company.
Fraud was done by SPS. They forged my Trustee Deed replacing pages with the fake ones. Later when I sued them they admitted an error occured but I have prrove it was intentional. They tried to steal the adjacent land to my property which doesn't belong to them at all. Per court settlement they released that land but as a revenge against me now they want to take my house (as a Trustee Sale). Please, help me.
My mother just found out her mortgage was sold to sps which she has yet to receive any payment information and now received a letter asking if she was going to dispute the debt and something about her being default which we can't understand due to her being up to date on payments until this. we had a house fire in march bring the upstairs and damaging the first floor. Right after that she was asked by caliber who had her loan if she had any leins or other mortgages on the property. Which we thought was odd myself and my bother had been helping my mother due to her loading our father just last yeah and loosing his income. Now I read all of the reports and we definately want to be part of any lawsuit these scum need to be stopped from preying on good people it's crazy how they can do this and it needs to stop
In January 2003, we were financed with a "interest-only" 80/20 mortgage. Our payments consisted of interest portion only and made it possible for us to obtain a larger home for less money per month. Our loan was attached to a balloon payment which would be due 10 years from the initial date of the loan. Our plan was to sell or refi at that time.
However, in January 2013, our two income household became a one income housesold since the company which my wife worked was sold and laid all the employees off permanently. For the next 6-9 months our finances were very tight. During this time, I saught after a loan modification due to the layoff and decrease in our income. Our mortgage at that time was with JPMorgan Chase and had a perfect payment history. Never late!
Well, as fate would have it....the balloon note came due and the modification wasn't happening fast enough. It's 6/11/15 and we still have not finalized the mod. Mainly because we have since done research and found out about the Civil Action Suit that was taken against JPMorgan Chase. We now realize the activities of SPS mirror the exact situation many found themselves in while dealing with Chase. We are seeking help to keep our home.
Chase started the modification, but midstream handed us off to SPS 6/2014. The modification that was offered to us increased the payment, and shortened the term. Obviously we could not agree to such terms. For years, we both carried between 772 and 683 credit scores. We are now in the 500's. Our credit is ruined, we are receiving foreclosure letters, phone calls right and left, and our insurance has been cancelled on the house.
The thing is...we were never late on our payments when we inquired about the modification. We were only inquiring to prevent the very thing that has/is happening.
We were advised NOT to make payments during the processing of our modification. "advised against it" I know, we were in disbelief too. But, we followed their advise. Our payments were starting to show late. Our credit score started to drop. We were being put in the position, sign the modification or lose the house.
We have since been told, we have to pay $13K to catch up arrearage and added fees. We are currently paying bi-weekly payments to SPS above the amount due per month to help us catch up. However, this last week we received a certified letter mentioning foreclosure still.
We need legal advice or something. There has to be a way for us to keep our home and get our credit back. Please help!
My wife and I both lost our jobs at the same time about 6 years ago. Select portfolio servicing had already purchased our loan. We contacted them about a principal reduction modification so we could afford to keep our house. We were instructed to skip payments to get process started, so we did. We then entered a trial phase with a ridiculously low payment for 3 months. I should have saw a problem because we never missed before but was a good faith payment plan. Then it fell through 1 more time and were approved on the 3rd 3 month trial. We had original Balance on our home of $279,000 paid the mortgage 5 years before modify. Our balance upon starting the modification was $238,000. We now have an interest bearing principal of $76,000, but our new principle balance is $315,000. To help us out we were nailed with $50-75,000 in fees. We now want to move and can not sell without wrecking our credit through a short sale. How do I join the suit?
After reading all the other complaints, mine will sound just exactly the same. We've tried for five years to do a re-mod and they kept requesting more documents.
We are in foreclosure now, and have someone interested in buying our home,but we can not get them to mail us a payoff amount.
I would be a part of a class action law suit in a heart beat. This company has given us the run around and it has been extremely stressful living with all of this over our heads all the time!
Our mortgage was transferred from HSBC to Caliber Home Loans with an escrow amount of $854. Made all payments on time. Mortgage was then transferred to SP Servicing who stated we are 3 months in arrears, plus owe additional monies for taxes, insurance, etc. totaling approximately $11,700. Applied for loan modification and their offer was to reduce monthly payment from $1895.40, which does not include taxes or PMI, to $1627 and include taxes and PMI. We would pay $1627 monthly for the remaining 410 months of our original mortgage agreement and at the end of the term in April 2026 there would be an additional balloon payment of approximately $153,000 due if we chose to keep our home. Mortgage servicer cannot explain how we went from having an escrow credit to being months in arrears when all payments have been made. Repeated attempts to have the account research but request is always closed out after 4-5 days because SP Servicing states we did not provide them with needed documentation, despite no documentation having been requested. SP Servicing has the complete payment history of our mortgage so I do not understand how or why they cannot rectify this account.
SPS says they want to help with your mortage problems but thats a lie - They make you jump through hoops filling out pages and pages of forms - supplying months of bank records and paystubs only to deny you any mortage modification
They buy up past due loans from companies like Chase and immediately put you in default status - sending letters weekly demanding payment and threating legal action - having 3rd parties come on property leaving threating notes all the while calling you at all times day and night.
This "company" is no better than the scum-sucking collection agencies of boiler-room days - They want to foreclose - kick families out into the street just to recover .10 on the dollar. I am 5 payments behind and asked to put those payments at end of the loan since I can make my monthly payment but they refused - told me to file bankrupsy since I can not pay my bills - This from a minimun wage hack sitting in a strip mall office on a phone.
Shame on you - SPS. Its companies like you that make us all sick.
My mortgage with my mortgage company was sold to Select Portfolio Servicing, Inc beginning 1 September of 2014. I had a terrible time trying to figure out who or how to pay them. The house was put on the market the end of September 2014. I paid escrow to them for taxes and insurance. The funds from the previous mortgage company transferred with the sale of the mortgage. I made September, October and November payments to them. I sold the house 1 December 2014. They had just paid the insurance to my company, however they are required by Kansas law to return the funds to the mortgage company. I have called them and emailed them several times with no luck. They told me that they have sent the 1098 for 2014 as well as the check but that it was returned twice. They were to fax the 1098 after the last call on April 6. I have not yet received either.
Ever since JP Morgan Chase sold me to SPS. it has been a nightmare of paperwork. The amount of documents I have mailed to this company could fill a truck, they have you send same stuff over and over. I have begun uploading on their site and that is becoming a nitemare, all I want to do is a modification. How can you lose paperwork over and over and over again, very stressful!!!
Select Portofolio Servicing are the biggest fraud scumbags to ever be allowed to be lenders. I was waiting for a loan modification for 1 year , they always lost my papers and i had to send them new ones all the time. They only called me once in a while. Finally i received a answer from them that i wasn't qualified for a loan modification and my mortgace payment is mutch higher. They put me on a trial period for three months and they can not tell me the interest on my morgage only after i make my 3 months trial period payments. I think they just want my money and after that they are going to forclose on me.
They are thousands of people who wants to take this company for a lawsuit.
SPS is the Servicer of our home in Ca. US Bank is the Trustee. SPS has serviced since 07. Our home was severly underwater in 2011. Therefor a HAMP modification took place. After months of slow response, we were given a Modification. Ufortunately it was definetly a band aid on a bullet wound. We had no choice than to take the Mod. Getting out of this Mod was a huge focus by 2013. Intrest rates were super low and valuse were on the rise. A second attempt of a Modification that would be more traditional was a hope. A second Mod attempt started. No one would help unless we were falling behind. I made attempt of a Hamp but the loan was not FHA. SPS required us to be delinquent. Here we are 15 months later and two Mod denials. Taking 15 months to modify a loan is absurd. All documents were asked for and sent to them with in 3 days. They took 4 months on one occasion to here results. My diligance and phone calls got nowhere. Now that the loan is over 12 months delinquant, they are asking we come current with the loan before and or if they can help.
Had SPS be a little faster is the process, We would have wrapped this up in under 3 months. Seems my only avoidance of forecloser, was being involved in the Mod process. Now Im outside the Servicer parameters and guildlines.
What to do.....With I could deal directly with US Bank...
It started with Ocwen. They changed my interest amount and due date. Tried for 6 mos to correct. Sent all paperwork they required. They kept telling chase had not yet sent proper docs. IL state atty was contacted by me and 4 more mos later finally they fixed it. Then they wanted more tax money and constantly calling. Then SPSERVICING took over loan. Money showed up in my account. No explanation no nothing. I thought ok it's a settlement. 3 mos later I get letter saying I am delinquent. 3 mos more I am told 2 mos delinquent. 6 mos later 3 mos delinquent. I just do not understand why a company can get away with such creative financing. It is illegal and aggravating. I want retribution and I want to shut them down. Thank you chase for all the harassing calls. Chase started this mess they should clean it all up
I started with Litton loan then chase then ocwen and now spservicing. The only good thing that has happened with the last change us I can understand their English and that is it.
This company raised my mortgage from 524.96 to 925.00 without my knowledge they have reported this to my credit report incase I dont pay in full and is affecting my score until I do something about it. I have no choice.
before this I fell behind because I was unemployed for 6 months contantly harrassed from 8am daily Mon- Sun till 9pm I recently caught up and gave them 3600.00 so my I can fix my credit, but now they included my escrow balance.
I am so fed up with these people eho do not know what they are doing. Do they really know the meaning of a affordable mortgage? They are rip off, and want to get as much money from the homeowner as possible. I did an affordable mortgage modification, and they are giving me an interest rate of 9.47 %. They are not acting in good faith and should be penalized for giving consumers fraudelent payments. They are charging exhuberant interest rates,which is against the law right now and when I call them they are telling me to sell my house in short sale. They call every day, to upset me. They are like the devil who is trying to put fear into my mind.
But I know their crookish behavior should be stopped and must end now. Therefore I am writing to let everyone know how they are, they are a bunch of thieves, who is trying to rip off the consumers. I need to know their License numbers, are they really a bank or a collection agency.
If there is any attorneys who know these crooks, please let the consumers know.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Class Action starting NOW!!!!!!!!!!!!!!!!!
Join In...................
My son's father passed away last year. My son became ex-acuter of the estate. SPS has given him a list of late charges but can not explane what all the late charges are for. They say that some are for unpaid taxes and insurance and some are late payment charges. However, they can not tell us how much is for what, and when. Also, several years before the estate owner passed so did the estate owner's wife. Shortly after her death he filed for the government loan modification program to help get back on track and lower his mortgage payment so it would be managable with less income. After many attempts and many faxed documents of the same things over and over and a change of "relationship managers" three times he was eventurally denied after 10 months. I know this because I was the person doing all the financial work for him during that time and I am also the mother of his son. I was his first wife. Now my son gets calls from SPS on a daily basis about late charges that are not acuratly or clearly explaned and when my son questions them they become defensive stating they are recording the conversatons. My son has replied that he also is recording the conversation but they hang up on him and call back on another day. They harrass and will never give the same answer twice nor, does my son speak with the same person twice. I know for a fact that all the taxes and insurances were paid while I was living here, and have documentation to prove this. I have even sent them proof of this. Nothing seems to work with these people. They make up bogus charges and harress us for payment beleiving we fear all the forclosure notes they send will force us to pay faster. We are sick of their bulling tactics. We want to join a class action suit against them. We beleive they have bogus charges that have been going on for the years they have owned the loan.
SPS bought our home loan and has now stated that we owe all deferred payments that were part of a loan modification with our original mortage company, SPS appears to be a Collection Agency more that a mortgage company, their tactics are similar.
I want in on the class action lawsuit, please kee me informed on progress
I needed to modify my home loan due to financial problems. SPS who is the service provider for Bank of America, offered to "help" me with my loan modification. For17 months they advised me do not pay my mortgage and they would handle ALL of the modification once I gave them the necessary paperwork. So I did the paperwork I a timely fashion and they said I qualified. But then, the had a computer glitch that lasted for 17 months, they were unable to get me the paperwork for me to confirm the modification. As i found out later, what they and BOA were doing was making sure I did not meet the federal requirements BUT would meet their program requirements. So I made 4 trial period payments on time instead of just 3 they required to show I was serious about keeping my home. I finally received the loan documents, my payments went up approx.$200.00 a month. And although the computer glitch was THEIR problem, I no longer owe $46,000 I now owe $102,000.00 thanks to interest, penalties, escrow, etc. I saw that I am entitled to money under the settlement that BOA made with the DOJ, but BOA said SPS will contact me about the money due me. SPS said BOA will contact me. Typical runaround so they both keep the money & I lose out. I have contacted the US Attorney General and Consumer Protection, as well as posted an ad for an attorney. If you have a loan through BOA which sold my loan to Equicredit and is serviced by SPS get yourself an attorney!!
This company keeps posting door tags on the door knob of my property in Indian Wells. CA. I have no loan,
I have clear title and a title policy. I called SPS., they could not find anything in their records concerning my property after I gave them my address. I refused to give them my social security number or any other information. They schedule an auction for my property in my county. Evidently, no buyer's paid the price they were asking. I asked them to stop hanging tags or trying to contact me.
I Am a victim of predatory lending. I have a mortgage interest rate of 7.75%. Despite paying my mortgage on time I have been unable to lower my interest rate. Last year I paid $31,00 in interest and $600 towards principal. At this rate I will be DEAD before I own my home.
Please, please help me! Nobody cares at SPS all they want is to rob my money and make sure I will never own my home.
On August 01, 2013, JP Morgan Chase transferred to Select Portfolio Servicing, Inc. the mortgage services related
to a Loan Modification on my name.
On December 10, 2013,letter from S P S, Inc. offered to me under the Home Affordable Modification Program ,
The Trial Period Payment Plan with three monthly payments : January 01, 2014, Februaray 01, 2014, and
March 01, 2014. All the monthly payments are done on time, as S P S, Inc. requested.
After the last monthly payment, ( March 01, 2014 ) I have not gotten any information about the Loan
Modification, they have written letter to me with unnecessary and boring information , no related with the Loan
Modification . they are using Dilatory Tactics to get the time runing..
I performed all the payments under the Trial Period Payment Plan, and I need the Loan Modification.
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Class Action starting NOW!!!!!!!!!!!!!!!!!
Join In...................
Attention all who have been ripped off by Select Portfolio. Your home is your castle. They have broke the law big time and need to pay. We must force our government officials to react by bringing legal force to the court room.
Please email me or write me or call me with your complete info and rip off you have with Select Portfolio. Class action law suit brings big attention from the state attorneys in your state.
Organize with me now.........I am an American Citizen........Aren't YOU?
Class Action starting NOW!!!!!!!!!!!!!!!!!
Join In...................