Posts Tagged ‘Wells Fargo’
For weeks consumer advocates at watchdog organization listened to and read reports of how well Saxon Mortgage modified mortgages. Many of those reports were false or misleading.
A few months ago Morgan Stanley said Saxon Mortgage would hire “up to thirty people” to help with Saxon’s backlog. Somehow Saxon claims to lead the field with 25 percent of mortgages modified. Something is wrong with those numbers.
Maybe Saxon will start modifying home mortgages now that the company received some Obama money. Wednesday the first handful of companies received part of the $75 billion set aside to help struggling homeowners avoid foreclosure.
B in Kentucky said: “I have been trying to get a loan modication from Saxon for 8 months the keep tell use in the process but nothing is being done. Saxon Mortgage keep telling us to send money – a big amount to a bank account in Iowa to keep the house from foreclosure, but when we try to refinance with another company they say Saxon wants to give other companies information, but the loan is in foreclosure. Other companies say there is nothing they can do. Where is our money going? Nothing is shown on the loan. Nothing says Saxon received the payments. Someone please help.”