Loan modification,collection,foreclosure

Posted on Posted in Mortgage

review

I started a short sale process with Select Portfolio Servicing ( SPS ) in XXXX XXXX. To date, the short sale has not closed. While I understand a short sale can be a lengthy process, SPS has been negligent in the handling of this process. Starting in XXXX XXXX, I was told that I no longer have to pay the mortgage. Because of this information, my mortgage has gone unpaid for 11 months ( I paid XXXX ). I had NEVER missed or been late on a payment before this process started. Because SPS has created every possible scenario to delay the close of this sale, my life has been negatively impacted. Everything appeared to be going smoothly until mid-year XXXX XXXX XXXX. Sinec that time, SPS has asked me repeatedly for the SAME INFORMATION ( bank statements, pay stubs ). When I question why I have to keep providing the same information over and over, I ‘m told that my previous submissions have ” lapsed ” and I need to provide updated ones. I respond that they lapsed because no one is working to move the process forward, but those complaints fall on deaf ears. My real estate agent advised that they have requested the BPO from her FIVE TIMES for this same reason ( date lapse ). Since SPS is not a true mortgage company but a debt collection agency, it seems that it is adventageous for them to delay, delay, and further delay this process because it is more profitable for them to send me to an attorney for foreclosure proceedings. This is not fair to me as the consumer. I am a divorced, single mother of XXXX children. I started this short sale process because I can no longer manage the property that I am desparately trying to sale. I no longer live in the state where the property is located, and I do not have the resources to fix-up the house to make it suitable for renters. I am trying to do the right thing and they are not willing to assist. I have referred this case to their internal ombudsman department but the same delays continue to occur. Now, they are stating that the property is worth over {$38000.00}. Their original assessment in XXXX was that the property was worth appx. {$30000.00}. How has this increased so significantly when no changes have been made to the property? The offer that I received from a potential buyer was {$37000.00}. Is n’t it strange that now, all of a sudden, the house is worth more than the offer that I received XXXX months ago?
Upon researching the company, SPS was previosuly XXXX XXXX XXXX, a company that settled with XXXX and the FTC for over {$40.00} XXXX. They were charged with ” engaging in a number of unfair, deceptive, and illegal practices in the servicing of subprime mortgage loans. ” History shows that this company has no desire to do the right thing for the consumer. My life is slowly being destroyed. Outstanding lines of credit have been closed due to my credit score being impacted by this process. They have NO desire to help me sell this house and it is severely impacting my life. What am I supposed to do? I do not receive any financial support from my ex-husband. Please help me!! I am experiencing extreme levels of stress due to this issue. I ‘m at my wits-end with the whole process. PLEASE PLEASE PLEASE HELP ME!!!!!!

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