Where do I begin. My grandmother has a mortgage through SPS, Select Portfolio Servicing. Like everyone else I have read about, her loan was bought by this company from someone else. She filed bankruptsy in about 1 month after she recieved a forbearance agreement from SPS wanting her to pay $3,000.00 up front then $1,200.00 for 12 months after then her payment would drop back down to what she was paying before. Well, she did all that. Shortly after her interest rate started to rise, a few times they sent her letters stating the change in payment, but this last time, they cashed her checks for 3 months payments but didn't post them on her account and they sent her a notice of default saying she hadn't paid and owed because she was late (BUT THEY CASHED THE CHECKS ON TIME) when I called them about it, they said they mailed a letter about the change 6 months back (she never recieved anything!) and they were holding the money because they were not full payments and splitting each payment after that to make up for this imaginary rate change they didn't tell her about making her "seem" late on purpose. Not to mention. For the last 3 yrs her payment coupons have been sent out a month late, they want you to pay on the 1st of every month but don't send you your coupon to pay until the 22nd of the month..??! Also, because of them saying she's late every month she'll recieve late fees of $500.00 about once every 6 months. But it is awfully funny her monthly statements don't reflect any late fees. I requested pay off info from them and it was about $40,000.00 more than it should be, also they blacked out with a marker who's name and loan # was on the pay off sheet?!?! And for the last 4 yrs. All but $50.00 has went towards interest on her loan every month. The amount she actually owes for what she borrowed is about $5,000.00 more now. We don't know what we can do, we've tried with about 5 other companies to refinance only to be shut down every time. If you add it all up, she's practically already paid back what she borrowed but her principal has only gone down a few thousand dollars in the last 4 yrs. Do they really want this house or just want to do anything they can to steal her money because they know SHE wants it?! It is sad and makes me sick that they get away with everything they have done to thousands of honest paying people who just want their home. Each person out there isn't buying their home, they are buying someone at that company a home! I just hope to god they will someday get what they deserve!
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