Select Portfolio Short Sale Help can be tough to obtain and when not navigating the SPS Systems correctly with experience and strategy an SPS Short Sale can be much more difficult than it needs to be and is at risk of never getting done period.
Who is Select Portfolio ?
Select Portfolio Servicing or in short SPS is one of the biggest Mortgage servicers in the Nation and seems to be steadily growing as they continue to take servicing agreements for the servicing rights of defaulted notes. While other servicers like Caliber Home Loans who no longer process/offer short sales as an option or Bank Of America who is selling off the servicing rights to underwater mortgages SPS seems to be actively acquiring servicing rights to underwater mortgages and not flinching.
What is a Short Sale ? Why should i obtain professional Select Portfolio Short Sale help ?
A Short Sale is a sale of real-estate when the proceeds of the sale do not cover the full amount of the debt owed on the property, the lien holders agree to accept less of the amount owed on the debt and release their lien on the real-estate.
While Select Portfolio Servicing does offer other mortgage assistance options ( see below ) Select Portfolio Short Sales can be a great alternative to Foreclosure as Select Portfolio still considers paying out relocation Assistance on their Short Sale transactions. Although the amount paid and if any amount can be paid is up to the Investor of the loan/owner of the debt SPS will allow a borrower to try and get some relocation funds.Select Portfolio Short Sale Help can be tough to obtain and when not navigating the SPS Systems correctly with experience and strategy an SPS Short Sale can be much more difficult than it needs to be and is at risk of never getting done period.
Things to look out for with Select Portfolio Short Sale Help ?
Like any Short Sale its important to obtain Select Portfolio Short Sale Help from a professional that is familiar with SPS and their inner workings. SPS has a special escalations team for Short Sales that isnt known to many. When utilizing the assistance of this department along with the help of a professional SPS Short Sales can be a smooth and stress free process. When unaware of the servicers inner workings, systems, and procedures any type of work out review to avoid foreclosure can take far too long to receive assistance before its too late and the property is foreclosed.
These types of reviews can make you feel like a pinball being bounced around through the system. Don’t let that be you.
If I don’t want Select Portfolio Short Sale Help What Other Programs Will SPS Offer ?
- Select Portfolio Loan Modification : A loan modification is the process of working with your lender to modify the terms of your loan. When obtaining foreclosure assistance through a loan modification you are restructuring the terms of your current loan. You are not creating a new loan. Through a loan Modification you can cut the rate and years of your loan down as well as in some cases defer some of the principal or have an amount of it forgiven. Depending on how far behind you are on your payment you may also be considered for a repayment plan without restructuring the terms of the loan and providing any financial documents as long as the repayment plan is not longer than 6 months.
- Select Portfolio Deed In Lieu : When obtaining Help through a Deed in Lieu Select Portfolio will forgive the debt and waive the deficiency in exchange for transferring the deed to the property back to Select Portfolio. This is only available when there is only 1 Mortgage lien on the property. A Deed in Lieu in most cases is not available when there are additional liens on the property , not just additional mortgage liens but any other type of liens because you cannot give the property back to multiple lien holders. If allowed in these situations Select Portfolio would offer a settlement to the other lien holders and the Deed in Lieu would only be possible if the other lien holders accepted the settlement.
How Can I Obtain Select Portfolio Short Sale Help From a Professional That Will Not Take Advantage Of Our Difficult Situation ?
For assistance or questions about Select Portfolio Servicing, Select Portfolio Loan Modifications, Select Portfolio Short Sales, Select Portfolio Foreclosure Help, SPS Short Sale Help, HUD and any other Mortgage Assistance Relief programs please contact us at 888-572-8020 or 888-558-5856 and or fill out the form below.