Loan Modification With SPS
Select Portfolio Servicing (SPS) is a loan servicer. Even though you didn’t actually get your loan through this company, you still submit your monthly payment to them because at some point, SPS bought that loan along with many others. This can get quite confusing and it’s best to check your monthly mortgage statement to find out exactly who you should be working with if you are in need of a loan modification.
How They Work
A Select Portfolio Servicing loan modification is attainable. As a participant in President Obama’s Making Home Affordable plan, there is a higher chance of getting a successful modification with SPS. The program offers SPS an incentive to modify your loan to a mortgage affordable monthly payment.
Through July 2009, SPS has offered the plan to only 20% of its eligible customers so the majority of homeowners being serviced by SPS still have an opportunity to qualify with this program.
Success With SPS
One of our most satisfying cases was with a client who had a loan being serviced by SPS. The client came to us with an extremely difficult monthly payment of $3,829. They were struggling to say the least. After a successful loan modification effort by our mitigationj department, the client now has a 27 year fixed rate of 2.25% with monthly payments of $2,208. They are saving $1,621 per month! Now, not all cases are alike and the result will vary for each individual case, but you’ll never know if you don’t at least try.
Do You Qualify For a Select Portfolio Servicing Loan Modification?
Your chances of qualification with SPS are good, simply based on the fact that they are trying to modify loans and participate in the government’s Making Home Affordable plan. Of course, we’ll need to have a free consultation with you to find out exactly how good of a case you have with your lender.
We can get moving on your loan modification with SPS right now. The application on this page gets you started. You may also call us at the number provided at the top of this page.
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