- Report: #414606
Report - Rebuttal - Arbitrate
Complaint Review: Select Portfolio Servicing
Select Portfolio Servicingspservicing.com Salt Lake City, Utah U.S.A.
Select Portfolio Servicing would not cooperate with me because I have Mortgage Insurance Salt Lake City Utah
I contacted SPS and they stated that they were willing to do a shortsale. I put the home on the market, got 8 offers and they accepted one. I moved out of the house only to have them tell me that the mortgage insurance would not approve the short sale. They stated that the only way that I could Short Sale would be to agree to pay the balance on the mortgage as a personal loan ($100k). I refused.
Next I tried to do a loan Modification, but they said that that was not possible since they weren't the owners, only services. I asked (many times) who the owners were so that I could do something about it (like try to negotiate a solution), and they would not tell me.
Finally, I tried to give them a Deed in Lieu of foreclosure but they stated that the only way that I could do a deed in lieu would be to agree to pay the balance on the mortgage as a personal loan (now about $150k).
On January 13, 2009 they finally foreclosed after a year of my not making mortgage payments. I feel that I tried everything to work out a solution and they were uncooperative. Is there anything I could have done differently?
Bummed in ca
Fountain Valley, California
This report was posted on Ripoff Report on 01/21/2009 05:30 PM and is a permanent record located here: http://www.ripoffreport.com/r/Select-Portfolio-Servicing/Salt-Lake-City-Utah/Select-Portfolio-Servicing-would-not-cooperate-with-me-because-I-have-Mortgage-Insurance-S-414606. 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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