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Report: #1178246

Complaint Review: Select Portfolio Servicing - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Kurt K — Bethel Park Pennsylvania
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  • Select Portfolio Servicing Nationwide USA

Select Portfolio Servicing SPS Deceptive practice in home loan modification Salt Lake City Utaj

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I needed to modify my home loan due to financial problems. SPS who is the service provider for Bank of America, offered to "help" me with my loan modification. For17 months they advised me do not pay my mortgage and they would handle ALL of the modification once I gave them the necessary paperwork. So I did the paperwork I a timely fashion and they said I qualified. But then, the had a computer glitch that lasted for 17 months, they were unable to get me the paperwork for me to confirm the modification. As i found out later, what they and BOA were doing was making sure I did not meet the federal requirements BUT would meet their program requirements. So I made 4 trial period payments on time instead of just 3 they required to show I was serious about keeping my home. I finally received the loan documents, my payments went up approx.$200.00 a month. And although the computer glitch was THEIR problem, I no longer owe $46,000 I now owe $102,000.00 thanks to interest, penalties, escrow, etc. I saw that I am entitled to money under the settlement that BOA made with the DOJ, but BOA said SPS will contact me about the money due me. SPS said BOA will contact me. Typical runaround so they both keep the money & I lose out. I have contacted the US Attorney General and Consumer Protection, as well as posted an ad for an attorney. If you have a loan through BOA which sold my loan to Equicredit and is serviced by SPS get yourself an attorney!! 

This report was posted on Ripoff Report on 09/21/2014 12:50 PM and is a permanent record located here: https://www.ripoffreport.com/reports/select-portfolio-servicing/nationwide/select-portfolio-servicing-sps-deceptive-practice-in-home-loan-modification-salt-lake-1178246. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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