Posts Tagged ‘Novastar’
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.
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.
AR in Pennsylvania said: “We have been with Saxon Mortgage since 2005 and thats when Novastar sold us, around five months later, We have been trying to do loan modification for about year and half, and we are getting the same run around, them stating not receiving are information on time are we have never filed for modification and they don’t have information about us calling, so I started to write down who I spoke to and what time and there extension.
Dee, no location given, said: “We have experienced all the same issues everyone on this site has. We’ve been in modification “discussions” for over a year. Funny, but I always thought people actually had to TALK to you to have a discussion.
Michele in Michigan said: “I have had Saxon since Novastar sold my mortgage around 3 yrs ago. I made all of my payments on time, until last March 08, when my income dropped. I called them BEFORE I was late with payments to see about getting some help (figured I would be PROACTIVE). They told me there was nothing they could do until I was 2 months behind. Well things got worse and I filed for bankruptcy including my mortgage. I stopped making my mortgage payments in April 08.