Linda Call, Home Buyer in Corpus Christi, TX

saxon mortage states that we are in forclosure but they never sent us a letter notifying us of such

Asked by Linda Call, Corpus Christi, TX Sat Jan 31, 2009

now they are charging attorny fees also and want us out by march 3 what can we do. we do not want to loose our house, we can come up with half of what we are behind to start a repayment plan but do we have to pay their attornys fees even though they did not send us a formal letter of forclosure here in Texas.

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Lawyers Call Modification Efforts a Failure An attorney trade group has released a report that calls the voluntary effort by U.S. mortgage servicers to modify loans a failure. The structure of loan securitizations, threat of litigation and lack of cooperation from junior lienholders are creating roadblocks. The group is calling for cramdown legislation and court-supervised modifications.

Ask for the evidence that they assited you in a mandatory borrower workout effort including presenting you with various options as an alternative to foreclosure. Also ask for them to repsond to a Qualified Written Request as mandated by HUD. The Written request should emphasize the need for evidencing the live promissiory note and not existing agreements amongst the lender parties giving rise to conflict over the loans delinquent status. Ask who is the holder in due course and permission to contact that party.
1 vote Thank Flag Link Sat Jan 31, 2009
There's no reason why you should have to be going thru this! If you would like help getting out of this situation, I'm here and available to help you. I specialize in preforeclosures and would like to speak to you regarding various solutions.

You can call me on my mobile 361-695-8999

Blessings,

Mari
0 votes Thank Flag Link Wed Feb 11, 2009
While it is true they are suposed to notify you, that does not mean they won't foreclose on you anyway. I don't believe they would purposely foreclose on you if they had not, but for a clerical error, which does happen. Not because they are nice but because of the legal implications. I agree with the people here that you need to be proactive and continue to communicate with them. Even though they don't make it easy. That's why you should document any and all communication as well. Also note that the servicer and lender, or actually investor are usually two different entities. Send multiple "QWR" letters via fax, email and registered mail, telling them that you believe there may be violations in the origination and servicing of your loan and you would like a copy of your loan file, deed of trust, including any assignments, servicing agreements, including copies of original notes, mortgage documents and any BPO's (Broker's Price Opinions) they may have done. This is sort of like a pre-discovery and from this information you can hire a professional to do a forensic loan file audit for you. If the violations are substantial enough you will get what you want. If there are only minor, as in most cases, they can still be used to negotiate a much better situation than thye would first be willing to offer.

Do you have a sale date yet? Are you working? Do you owe more on your home than it's worth? The answers to these questions will determin what strategy you should take. Which should be a proactive and assertive action.

I hope this information was helpful. For more check out http://www.loansafe.org or my site http://www.QualityLoanMod.com

Best
Web Reference: http://QualityLoanMod.com
0 votes Thank Flag Link Wed Feb 11, 2009
Again this is in answer a Real Estate Pro who is naive about Saxon Mortage. Yes, they are overloaded, hence no comunication from them, but they also lie. My daughter asked about having a mortage modification and was told not to send in any more payments because he would get a lower monthly payment. Well months later when she finally got an answer her monthly payments were more than before. She also received an Act 91 which would have helped her but when she called Saxon they told her they never heard of an Act 91 and for her to ignore it. My daughter hired a lawyer but that has not helped either. Saxon just keeps upping the monthly payment and the lawyer does not understand some the added fees from Saxon. He has written to Saxon but has not received an answer. Please go to the web site address I have attached below to find some more horror stories about Saxon.
0 votes Thank Flag Link Wed Feb 11, 2009
Linda,
I do quite a bit of Home rentention work and one of the clients is Saxon. In my opinion they are trying to catch up and are completly overloaded with amount of work they have. From experience I know that you will not get an answer over the phone or in a very timely period, but the goverment is giving these institutions a lot of incentives to avoid foreclosures.

I think even if you get a workout from any lender the terms are going to favor the lender first,( they have all the leverage). Loan modification companies can level the playing field for you.
Web Reference: http://www.geauxmod.com
0 votes Thank Flag Link Wed Feb 11, 2009
Linda,
My answer is more for the all the real estate pros that answered you. I am sure that they have not called Saxon Mortage or they would know that you cannot talk to them. They don't answer your calls and if they do they claim they don't have any of the information that you faxed them.

Long story short my daughter is going through a foreclosurer with them. She is trying to sell her house on a short sale. Her real estate agent works with foreclusurer houses. There is an offer on the house and the real estate agent is trying to work with Saxon but they keep saying they don't have any of the information she sent them., she keeps calling them everyday. The real estate agent asked my daughter what is the matter with the people at Saxon, are they a bunch of idiots? My daughter said they are either iditots or con artists. Check out the web site address I am attaching to this answer and you will see what kind of people at the mortage company really are. If you do any search on the internet for Saxon Mortage you will find many, many complaints about Saxon Mortage.
0 votes Thank Flag Link Tue Feb 10, 2009
Linda,

Sorry for your situation.
You need to get on the phone with them immediately and do a workout.
Show them you can pay monthly and on time from this point forward.
Show them what changed.
Likely missing one letter or notification won't change things if you have been posted.
You still have a little time to work it out.
0 votes Thank Flag Link Tue Feb 3, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I have heard a lot of horror stories out of this servicer.
You need to contact the lender and do a workout plan. Do not duck their calls and only agree to what you are SURE you can stick to!!
0 votes Thank Flag Link Sun Feb 1, 2009
Linda, I'm sorry to hear you are going through this. Unfortunately it is very difficult to get any type of resolution once the bank has already served you w/ notice.
If you would like help getting out of this situation, I'm here and available to help you. I specialize in preforeclosures and would like to speak to you regarding various solutions.
You can call me on my mobile 361-695-8999
Blessings,
Mari
0 votes Thank Flag Link Sun Feb 1, 2009
Work with them direct not attorney lender can waive and reduce fees. I would stay on top , be kind no harsh words truly they dont want your home.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Jan 31, 2009
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