Posts Tagged ‘New York’
A class action lawsuit has been filed in Federal Court in New York against Saxon Mortgage Services Inc., the Morgan Stanley mortgage servicer division, for failing to fulfill its obligations under the federally-sponsored Home Affordable Modification Program (HAMP) to homeowners in financial distress.
Saxon Mortgage parent Morgan Stanley has seen fit to give the company chairman a 150 percent pay raise. Meanwhile Saxon Mortgage can’t even endorse and return my insurance check in a timely manner. Here is why they think Mack is worth the money:
Michael in New York said: “Everything I have read , all happend to me when Saxon Mortgage bought my loan from novastar. I got behind on back taxes about 5,200 saxon paid them for me . my payment went from 805.00 monthly to 1300.00 and I was paying that till I lost my job.
Deutsche Bank is the investor for many of Saxon Mortgage’s loans. It has been said that Deutsche Bank does not allow modifications. With that in mind, here is an article about Deutsche Bank and subprime profits:
MP in New York said: “I have read all the complain for Saxon Mortgage, and my story is similar. Our mortgages was sold to other banks, until Saxon bought it, in June of 2009 we apply for the modification, they told us the first time our mortgage was going to be reduced from $1,500 to $1,100 we agree everything was ok they told us we should make the payments for the first three month on time, we did, when the period of time was done they told us that all the agreement was not posted in the computer, and that they have to started all over again.