ED Magedson – Founder
Select Portfolio Servicing IncPO Box 65277 Salt Lake City, Utah USA
Select Portfolio Servicing Inc Increasing Payments that are not in the Contract1 Salt Lake City Utah
I had a 1st Mortgage with Bank Of America of $225k and a 2nd with another company of $67k. I was diagnosed with Multiple Sclerosis and could not work full time. As a result, my wife of 16 yrs divorced me and this all forced me into a Chapter 7. It was discharged Sept 2010. I included the house in the charter 7. Bank of America called me 12 months after my 7 was dimised and ask me if I would be interested in the "Obama"Home Modification Program. I had nothing to lose so I went for it. Keep in mind that I didnt make any House payments for almost 2 yr's and the didnt even start the Forclosure process! I gave them the info they ask for and they approved me for payment of $1168 per month that included taxes & Insurance. I paid B of a on time every month for 18 months ($1,168) and then they sold my loan to SPS. I paid the same payment with them for 3 month until I received a letter stating that I was behind on tax reserves and my payment was going to increase by $85 for 3 years! I understand that taxes go up but not by $3,060 more per year! When I called they said that when my Loan was transfered, my escrow account was short $3,060! but won't show me the paperwork explaining why. I have a ledger from B of A that show's my taxes were current but they don't care. They also stated that I called them back in Feb and ask them to spread the $3k out over 3 yr's (I never called) if I would have, I would have tried to get to the bottom of it then! Now I have to file complaints with all of these worthless Government Agency's so they can pretend that our Tax $'s are hard @ work! The Consumer Finacial Protection Bureau is a Joke! They don't find offenses and fine the Company that's stealing your money, they just pass your complaint to the company and post their answer! Huge waste of our tax $'s I'm going to file a complaint on SPS and BofA with evry Government Agency I can find and if I get no resolution, I'm going to let livestock live in this House for a years or so and then I'm going to stop making payments and let them Forclose. I already did a Chapter 7 and I'm on full Disability so they can't Garnish for any reason. I owe $240k and it's worth $200k now. I'm guesing after being a Barn for a year, it should need $50-$70 worth of work to get it back to a $200k value. This is for everyone that's getting Ripped of by these A-Hole's!
This report was posted on Ripoff Report on 12/04/2013 07:47 AM and is a permanent record located here: http://www.ripoffreport.com/reports/select-portfolio-servicing-inc/salt-lake-city-utah-84165-0277/select-portfolio-servicing-inc-increasing-payments-that-are-not-in-the-contract1-salt-lak-1104217. 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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