Editorial
On the 22nd of September 2011, my home sold. Saxon Mortgage has been a pain in my side since Saxon became the servicer. I am glad to get rid of Saxon, purging this worthless company from my life. I never missed a payment, was always on time, and never did anything wrong. Saxon was evil right up to the last day. Saxon still caused problems three hours before closing, and in the days thereafter.
On our Mortgage Blues website we wrote about the financial crisis as it built. We knew there was a problem, and started writing about it in 2005. Apparently Goldman Sachs and others knew it too, and bet against shady mortgages and resulting investment vehicles.
Today I discovered what many people probably suspected. Saxon Mortgage did not foreclose in the middle of winter because homes would freeze and become damaged. Instead, Saxon Mortgage promised HAMP modifications that never happened, and foreclosed or threatened foreclosure when the weather moderated.
I learned something very important today and i want to pass along to all complaintants of SAXON motage.
We don’t know much about this but thought we should post it anyway. Be aware that some investors bank on the fact that homeowners will lose their home anyway. When home prices rise there is a profit to be made.