Select Portfolio Servicing, Inc Mortgage Complaint

Other mortgage Loan modification,collection,foreclosure

Select Portfolio Servicing, Inc Mortgage department,

Other mortgage Loan modification,collection,foreclosure Pennsylvania

My mortgage started at $150000.00 with -, I put down - % and thought I had a decent mortgage. After - went out of business, it was sold to an investor. The servicer became - - -, I attempted a modification while being serviced by - - - and my mortgage went to $180000.00, however my interest rate was 10 % with a balloon payment. My mortgage was transferred to Select Portfolio, where I was given a remodification, which brough my mortgage up to $180000.00. My new interest is 9 %, but after calculation, over 10 years, I have paid over $200000.00, my new mortgae after modification, has no pay down, I am patying interest to infinity with a baloon payment of $180000.00 + that can come due at any time. I have tried to apply for another mortgage but because this is not FHA, I have had no success. I would like to stay in this home and have done everything I could to pay my mortgage, but this is a worst case of predatory lending, and I see no end in sight. No one can tell me what type of mortgage this is, and my questions go unanswered. I just want a regular mortgage with a moderate interest rate and a payoff date. Please help, Please

Select Portfolio Servicing, Inc customer in Pennsylvania
Apr 24, 2016

* Source: CFPB Complaint Database

Select Portfolio Servicing, Inc response to complaint:
Closed with explanation

Get Help

Get personal financial help today. Free tools, resources, and support you need.

Help Me

File a complaint

Submit a complaint with the Consumer Financial Protection Bureau today

File Complaint

Stop Phone Calls

Stop the phone calls, learn how to stop harassing phone calls

Stop Calls

Loading similar complaints

{{x.COMPANY}} {{x.ISSUE}} {{X.SUB_ISSUE}}

{{x.COMPLAINT_WHAT_HAPPENED | preview}}...

Read more