We have a loan with SPS. My husband and I are both in sales, and have tried four times to get a loan mod from these idiots.
The last time they told us we were "approved", then a week later said no sorry you were denied. They will not give us any reason except to say that the "numbers don't support it". I believe that we qualify for the HAMP program, but they want to foreclose on us so that they can get their government money. Our house is worth less, but we are willing to repay the whole debt, we simply want a little break on our interest rate (which is HIGH).
They won't do it.....and they keep giving us the run around. They should be sued!!!
I am sure we are eligible for a loan mod, they are just greedy, and want to take our house and FREE money from the government. It is SICK that these people get bailout money while the rest of us suffer.
Review about: Select Portfolio Servicing Mortgage.
Monetary Loss: $700.