MY NIGHTMARE WITH SPS-SELECT PORTFOLIO SERVICING, INC.

I have a HAFA short sale with SPS.  It has taken forever; since August of last year.  Twice SPS set up a foreclosure date even though this is a HAFA SS and both times we submitted a motion to dismiss and the judge cancelled the foreclosure sale.  Finally SPS approved the SS, however, we were not able to close due that the property did not pass inspections and lender did not approve buyer’s financing.  The closing date was scheduled for April 19 and on April 8th a new offer was submitted (Cash) with no inspections contingency.  We were supposed to receive an approval to close on May 30, due that the only change submitted with the offer was the buyer’s name.  Guess what? Instead of receiving an approval we received a rejection.  The reason given by SPS is that the seller does not qualify for a HAFA SS.  This makes no sense when SPS approved the file just 30 days before this rejection.  We submitted a complaint to different agencies and now SPS is reviewing the file. They said it will take 10 days for them to have a final decision. Any ideas about what else can we do in the event SPS still do not approve the SS? 

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Comment by Bryant Tutas on June 12, 2013 at 3:54am

Hi Blanky. You'll get responses by posting this in the forums instead of as a blog. Forums are for questions. Blogs are for sharing info.

As for your situation you just have to keep pushing. My guess is they will give you the approval you need. Anytime a deal changes the servicer/lender has the opportunity to reject or change the terms.

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