Mortgage: Struggling to pay mortgage
Consumer Financial Protection Bureau
Key Details
- Posted Date
- Source
- cfpb
- Awarded To
- SELECT PORTFOLIO SERVICING, INC.
Description
I was trying to obtain a loan modification with Select Portfolio Servicing, but they did not consider all the necessary documents to make a decision. I submitted my W-2 and tax returns, yet they declined my request with options that are not feasible and aggressive. They are also missing other documents, such as the XXXX XXXX for Mortgage XXXX XXXX XXXX and other documents. I feel that this company is not doing its job correctly ; they seem more focused on collecting money rather than considering the best interests of their customers. Last year, they failed to pay my property taxes, and I have the proof of delinquency notice from the county for non-payment of those taxes. I am looking to modify my mortgage properly and explore available options. I dont want to go back and forth like I did with the tax situation. By the end of the year, I will catch up on my payments as they currently stand. It would be best if we could modify my mortgage to a 40-year term to achieve a more manageable payment amount. With this modification, I would be able to pay down the balance over time with regular monthly payments. However, they are unwilling to work with me on these terms. Currently, they have a payment program that results in a larger balloon payment at the end of 3 or 6 months. Their practices seem aggressive and beneficial only to them, not to their customers. Additionally, I noticed that during a recent call, they inquired about my background, which I found concerning. I am willing to negotiate, but their practices raise questions.
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Data sourced from cfpb