ED Magedson – Founder
Select Portfolio ServicingSalt Lake City, Utah USA
Select Portfolio Servicing SPS Select Portfolio Deceitful, lying, immoral, scammers Salt Lake City Utah
The goal of this company/collection agency is to collect as much money from you as possible, before they take your home. Knowing that they will in no way modify your mortgage, or make your payments affordable, they try to string the homeowner along for months or years with promises of making things better. They lie to keep the cash flow going.
Example: After your initial modification is denied(which it certainly will be, they'll make up a reason) They will tell you that an in-house modification can be done. Their so-called in house modification is something that you wont be able to afford, its basically a shakedown. They will ask you to pay at least 3 times the amount of your regular mortgage payment, per month, for at least a year. Let's just say if your mortgage payment is $500 a month, you will be asked to pay $1500+ a month for a whole year......and that's after your are asked for a "good faith" exorbitant down payment.
If by some miracle you are able to come up with these payments, they will still invent a way to try to squeeze more money out of you.....and when the funds are completely depleted, here come the short sale, deed in lieu, and foreclosure talks.
This report was posted on Ripoff Report on 10/22/2013 11:33 AM and is a permanent record located here: http://www.ripoffreport.com/r/Select-Portfolio-Servicing-/Salt-Lake-City-Utah-84165-0250/Select-Portfolio-Servicing-SPS-Select-Portfolio-Deceitful-lying-immoral-scammers-Salt-1093775. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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