More confusion at Saxon SCI with modifications and foreclosure

ML in Lousianna said this today: “Saxon has sent me a letter saying that I did qualify for a home loan modification and 6 weeks later sent a denial letter and approved the foreclosure process to go forward.” Meanwhile a homeowner in Kentucky told us of another foreclosure involving an adjustable rate mortgage. One must …

How Saxon Mortgage kept HAMP funds

HAMP was started in February 2009 by the Treasury Department and the Federal Housing Finance Agency after the foreclosure crisis. Under the plan, at least $75 billion was directed to participating mortgage-servicing companies to help financially distressed mortgage-holders modify their mortgages. Reuters reported that Saxon received a $634 million commitment of HAMP funds, of which …