Select Portfolio Servicing Loan Modification Help

Select Portfolio Servicing is a mortgage servicer who happens to service many distressed notes on behalf of investors. They offer standard work out options depending on the note’s investor or insurer guidelines such as loan modifications, short sales, deed-in-lieu’s, and mortgage settlements. Many borrowers who are behind on their payments, need a lower payment, or who have a balloon coming up coupled with an underwater asset are in search of a loan modification to change the terms of their loan. A loan modification is never guaranteed as many different stars need to align for a borrower to be approved.

Some important considerations are what are the investors guidelines, what is the loan to value on the home ( too much equity or too little could cause disqualification ), what’s the account status ( current or delinquent ), how much income is coming into the household, what are household expenses, and is it in the investors best interest to modify the loan from a lending standpoint.

If you need Select Portfolio Servicing Loan Modification Help be careful about company’s looking to charge you upfront for work as this is generally not legal in many states. There is information out there that could be helpful to you to guide you in the right direction. For questions on bank work out options that may be available to you please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.