• Report: #1008590

Complaint Review: Select PortfolioServicing

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  • Submitted: Mon, February 04, 2013
  • Updated: Mon, February 04, 2013

  • Reported By: Mitchell — Maple Heights Ohio United States of America
Select PortfolioServicing
p o box 65250., Internet United States of America

Select PortfolioServicing SPS Loan modification, and incorrect Form 1098, Internet

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Have tried several time to get a loan modification.  No results.  The interest rate on this ARM is capped at 13%.   The lowest rate is 8.99%.  The loan was sold to SPS in 2005.  The property was purchase at $79,000.  They are not willing to refiance the loan, or suggest any way of lowering the monthly payment which is currently at $937.00, and this is the lowest it will go.  One point payments were $1100. monthly.

Have not been given an answer as to when the ARM becomes a fixed rate.  The form 1098 for the tax year listed property taxes at $1127.00 for the year.  Property taxes has always been over $2000.00 on this property.  When called the customer service representivei was not helpful, excuse after excuse, "the computer is down", "I will have to transfer you to another CSR", and could you call back.

This report was posted on Ripoff Report on 02/04/2013 11:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Select-PortfolioServicing/internet/Select-PortfolioServicing-SPS-Loan-modification-and-incorrect-Form-1098-Internet-1008590. 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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