SPS, Select Portfolio Servicing I HAVE BEEN ASKING THEM 6 MONTHS NOW FOR A LOAN MODIFICATION AND THEY KEEP TELLING ME MY LOAN IS NOT MODIFIABLE EVERY TIME I SPOKE TO THEM ABOUT MY LOAN MY BLOOD PRESSURE KEEPS GOING UP. THIS COMPANY HAS MADE ME HAVE HIGH BLOOD PRESSURE AN A LOT OF HEADACRES, WHENEVER I AM TO MAKE A CALL TO THEM I HAVE A HEADACE. MIRAMAR, Florida

I understand your frustation. I am going through the same thing as you.  I've had also Accrediated had my loan before going to SPS. I had Income that decresed also due to accidents and medical reasons.  I have been trying to get a Mod for 3months. They keep denying me also due to finances.  They say my income has to be 30% of the loan. If over the amount I could qualify for Obama plan. I did not qualify because they keep saying it would make my payments more NOT TRUE. My taxes ARE NOT escrowed into my not . I pay them Seperate monthly.  They on purpose leave that info off. If you had both mortgages and taxes it becomes 34%.  I keep fighting every month trying to get different results.  Finally they sent some letter that said a FORBERANCE TO MODICATION this means they kick back the late months to bring the account current.  I pay my payment for 3 month on time and there is a POSSIABLITY they will give me a permenant mod without a variable rate and then INCLUDE my taxes with the same payment I pay now.  So the difference would be if it goes through is that My taxes would be included and the note would be the same.  I hope this goes through then I won't have to file bankruptcy. I went to a bankruptcy attorney and they can get your payments fixed according to your income for 5 years and POSSIABLY for the remainder of the loan.  I also found another option called a SHORT PAY.  This is when you get another mortgage company to buy your loan for the current market value and your current lender will forgive the other debt.  I hope you find this info helpful.  Don't feel alone cuz your are not.  I feel like screaming everytime I call too.  Just call and ask them about FORBERANCE TO MODIFICATION. Try a Short Pay. Contact a bankruptcy attorney if all things fail.  Your credit will be runned if you get a forclosure so thats why I spoke with one.l  They can stop the foreclosure.

I am in the same position you are in.  Income dropped dramatically because of sickness. I have 4 kids and asked for a modification.  Select Portfolio declined me 2 times because of the income guidelines they say.  I don't understand it either.  I tried selling and couldn't market to bad in my area.  Finally they sent a letter after going through financials 10 times.  The letter says that they kick back the late payments to bring my account current and if I pay for 3 mos on time they will Modify the variable rate with taxes included.  I also learned that you can do something call a Short Pay.  You have to find someone to buy your loan at current market value and then they will forgive the rest of the debt getting todays rate.  I know how you feel.  I still dont know if they will approve me for this Modification.  I have to wait 3 months to see if it will go through.  I wont know anything until December. If I hear anything I will respond again.

have you looked at doing a shortsale, or a short refinance? If you did that you could get out from under their control... I know first hand how hard it is to work with them to get a mod. or financial help. I don't think I'm allowed to give you my contact info in order to try to help you.