About Select Portfolio Servicing

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Select Portfolio Servicing, Inc. (SPS) is a loan servicing company founded in 1989 as Fairbanks Capital Corp.  SPS is headquartered in Salt Lake City, Utah with an office in Jacksonville, Florida.   Homeowners are often transferred to SPS once they become delinquent on their mortgage payments.   Many lenders try to protect their brand when it comes to foreclosing on homeowners.  For instance, a company like Wells Fargo does not want their brand associated with a foreclosure, so it's likely they will transfer your servicing to a company like SPS once you become 60+ days past due.

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Foreclosure Prevention Options

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Keep Your Keys works with SPS to provide solutions to customers, assisting them in resolving delinquency and avoiding foreclosure. Based upon your current situation, SPS may be able to provide you with a solution to help you stay in your home or, if appropriate, guide you through the sale or transfer of your property, allowing you to relocate to more affordable housing and avoid foreclosure. In some circumstances, we may even be able to offer financial assistance for relocation.

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Modification

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A modification is designed to bring your account current and provide you with an affordable monthly payment by modifying the terms of your mortgage. Changes may include a lower monthly payment, a lower interest rate, a partial deferral, or reduction of principal owed, or an extension of your maturity date.

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Payment Deferral

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A payment deferral is designed to bring your account current by adding the past due payments to the end of your loan as a non-interest bearing balloon that is due at maturity or payoff of the loan.

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Repayment Plan

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A repayment plan will either help you bring your mortgage current over a period of time, or allow you to resume regular monthly payments while you seek to sell the property, liquidate other assets, or improve your financial condition. While you are current in making the scheduled payments on a repayment plan, we will not proceed with foreclosure.

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Short Sale
 

A short sale enables you to sell your home for less than the total amount owed on the mortgage. If eligible, SPS would accept the short payoff in full satisfaction of the total amount due on the mortgage loan. If there is not yet an offer on the property, or the property is not yet listed for sale, we will also consider an agreement that will allow time to list the property for sale. Upon completion of the sale, the occupant (homeowner or tenant) is eligible for payment of relocation assistance, which may be up to $10,000

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Deed-in-Lieu of Foreclosure

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Deed-in-lieu of foreclosure is a voluntary transfer of ownership in full satisfaction of the total amount due, even if the property is worth less than the balance owed. Any agreement to accept a deed in lieu of foreclosure would require your cooperation in providing access to the property interior, providing clear title to the property, and documenting your hardship and financial condition. We will help you work with other lien holders to pay off and / or release any other liens that may be on the property. Upon the successful completion of a deed in lieu, you may also be eligible to receive financial relocation assistance.

 

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Keep Your Keys

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Keep Your Keys is highly experienced in helping homeowners stop foreclosure.    We have a thorough understanding of the products Select Portfolio offers as well as their internal processes to get them approved and completed.   With our 5 star reviews and exceptional customer service you would be hard pressed to find a better partner.   Leave your checkbook at home and contact us today for a no cost, no obligation, appointment to get started. 

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