Select Portfolio Servicing, Fairbanks Capital ripoff foreclosure bogus legal charges, SPS is stealing our dreams Salt Lake City Utah

In July of 2004, I recieved forclosure notice from Select Portfolio Serving that my home was going up for auction in August. I had previously sent checks for 4 house payments that they returned due to the fact that they were not enough to cover what I was behind.

The original mortgage was for $86,000.00 and the auction notice stated that the home would be sold for $98,000.00 to satisfy the bank.

I contacted them and told them that I was able to come up with the additional $13,000.00 to bring my mortgage current. I was then told that due to other fees9legal and misc.) that the balance to bring my mortgage current was $24,000.00. I agreed to try to get at least $20,000.00 together to save my home and was sent a forebearance agreement. This agreement was to be returned in 10 days.

I did not recieve it for 9 days and when it did come, it was full of errors. Due to the time frame that they had imposed and wanting to prevent the sale of my home, I signed it and sent them $20,000.00, all without obtaining legal assistance because I didn't have the time.

The agreement was set up to include my original house payment plus $200.00 per month to pay the $4,000.00 that they claimed I owed. I recieved my first statement and it showed over six $900.00 charges for legal fees plus taxes. I have again fallen behind.

I was contacted by them yesterday to set up a new forebearance. Now they say that I don't make enough money to do this. I am behind 3 months at $1069.00 per month.

They claim that I have to pay over $10,000.00 to become current again or at least come up with $5,000.00 and increase my mortgage payment to $1,100.00 to pay off these "charges".

I am also paying an interest charge of 11.5% , which is twice the prime lending rate due to the fact that my credit was a bit shakey. I want to keep my home but this company has taken all I have and still demanding more.

There should be something that we can do, because people like me are falling into a hole with no bottom. And companies like SPS are stealing our dreams.I am again facing foreclosure and this time, it may happen because I have alrady sold everything that I own to keep it from happening the first time.

Carol
Hammondsport, New York
U.S.A.