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
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