At the law office of Ira J. Metrick, we have defended borrowers against foreclosures from many different mortgage servicing companies including Select Portfolio Servicing (SPS).
About Select Portfolio Servicing (SPS)
Select Portfolio Servicing, Inc. (SPS) is a nationally recognized mortgage servicer specializing in the servicing of single-family residential mortgages. SPS was founded in 1989 and is headquartered in Salt Lake City, Utah, with an office in Jacksonville, Florida. As a mortgage servicer, SPS manages the day-to-day administration of mortgage accounts, including collecting regular monthly mortgage payments.
Select Portfolio Servicing (SPS) Foreclosure & Loan Modification Information
Select Portfolio Servicing (SPS) offers several Home Retention Options for borrowers who fall behind on their mortgage payments and want to stay in their home. These options, detailed on their website, include:
- Loan modification. The terms of your mortgage will be modified to make your payments more affordable. This can include lowering the interest rate, extending the timeframe of the loan, or principal reduction.
- Payment deferral. This will make you current on your mortgage payments by adding the amount past due to the end of your loan. It is important to remember that this amount is not gone, it is just delayed. You will still need to pay it at the end of the life of your mortgage.
- Repayment plan. This will allow you to become current on your mortgage over a period of time, or allow you to resume your monthly payments while you make arrangements to pay the amount due.
To be considered for one of these programs, you must submit a complete application to SPS to determine eligibility.
If you are facing foreclosure on your mortgage serviced by SPS, we can help you understand your options for stopping the foreclosure and staying in your home.
Helpful NJ Foreclosure and Loan Modification Resources
- Foreclosure Defense Overview
- New Jersey Foreclosure Timeline
- New Jersey Sheriff Sale FAQ
- New Jersey Sheriff Sale Timeline
- New Jersey Loan Modification Information
Contact Ira J. Metrick Today
If your mortgage is serviced by Select Portfolio Servicing (SPS) and your home is facing foreclosure, contact us today. We can discuss your situation and help you determine if you are eligible for a loan modification.
We can also ensure that the lender has followed all proper foreclosure procedures and has not violated your rights as a borrower. These violations can include, but are not limited to:
- Pursuing a foreclosure or sheriff sale while your loan modification application is still being reviewed (also known as Dual Tracking).
- Refusing to honor or review your loan modification.
- Not responding to your loan modification application within 30 days.
- Refusing to accept your mortgage payment or mortgage reinstatement.
- Declaring you in default and threatening foreclosure even though you are up to date on your payments.
If any of these or other situations have happened to you, contact the law office of Ira J. Metrick today to discuss your options.
