Complaint Review: Select Portfolio Servicing Inc.

Refinanced home in July 2005, mortgage sold to SPS in November 2005 - Life has been a living hell since that time. Initially, first mortgage payment lost and still missing in action. Forced placed insurance despite the fact that the mortgage was escrowed for taxes and insurances at original and refinance closings.

Mortgage payment skyrocketed nearly twice original agreed upon amount due to fees, charges, and escrow account. Naturally, this made mortgage impossible to pay. Several attempts to establish a realistic "work out/repayment" plan with SPS including over $20,000 in forebearance plan down payments. Still in debt and behind on payments facing foreclosure.

We've tried several times to refinance the mortgage to obtain another lender and each attempt has been unsuccessful. The home has over $100,000 equity. Bankruptcy is the only option.

All resources have been exhausted. We have tried to work out a reasonable plan with these people and can't seem to come to anything remotely feasible. SPS is an impossible company to conduct business with.

Orema
Miami, Florida
U.S.A.