Posts Tagged ‘foreclosure’
Janet in Virginia said: “I am joining the forces against Saxon Mortgage. We have been in a living nightmare dealing with this company. In August of 2008 we were notified by our Tax Accountant that we were not the legal note holder on our home. What a shock to us.
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.
Kansas City-based Novastar Financial, is not doing very well. Some Novastar loans were transferred to or are serviced by Saxon Mortgage. A growing number of its assets were pushed into foreclosure in 2009. As of Dec. 31, about 16 percent of NovaStar’s loans held in portfolio were more than 90 days past due, and about 36 percent were in foreclosure. At the end of 2008, about 20 percent of its loans held in portfolio were greater than 90 days delinquent, and about 20 percent were in foreclosure.
SL in Florida said: “I have never missed a payment to Saxon Mortgage, never paid late, not once, since June 2006. While families in the 5 houses surrounding me lived in their homes for 10 to 12 months without making a house payment, then let the houses go into foreclosure, I continued to pay, and when the variable rate kicked in, I asked for loan modification. Saxon said yes.
TM, nolocation given, said: “My Husband and I purchased our home in 06′ he had a stroke in ’08 and we fell behind in payments. I requested a modification in June of last year. We submitted all the necessary documents, then waited and waited.