LP in Lousianna said: “I received a loan modification with a huge down payment request known as advance fees that are due by April 16, 2009. We have every intention on agreeing to these terms, but hearing these articles we are getting really scared. We have been late on our mortgage since August 2008 until now April 1, 2009. We have all the documents notarized and not to mention the huge down payment.
We have been offered a 5% interest rate for 5 years including a balloon amount at the end of the loan. To make a long story short, we were served citation/petition papers saying we are being sued by US Bank NA, otherwise known as SAXON and that we have to answer within 15 days to this judgment since served March 28, 2009. Ok, lets face it, if this company is really being deceptive in their communications, we will see if this loan modification really goes through for us or not by April 16, 2009.
Saxon will not be able to reject it because I am taking the initial step of having a document notarized by Fed-Ex stating when I sent the documents out and what was included in the envelope per page and check all being witnessed by two people at Fed-Ex, in case I have to use it in court. They will not be able to say OH! we did not get all of the documents or we did not send it in in time.
This is our 3 rd modification and because Saxon does not send out documents in a timely fashion nor do they communicate well with the customer, we have been forced to take these steps and trust no one. If this is not done properly, I am contacting the Attorney General and hiring a real estate attorney to counter sue. I have all the letters acknowledging their mistakes in the past, not to mention the past loan modification that was notarized and sent in that was rejected because it was sent in on expired terms (Because Saxon Sent them out a month later after the modification was approved, I have copies of fed-ex envelope date it was sent out, not to mention the past copies of modification).
If a modification packet was due in by December 20, 2009, I would think Saxon would have Fed-Exed it before that date and not after. If this happens one more time, I will sue because of them not getting to the bottom of this modification and conducting their business on ethical terms and causing entrapment(Lets quit playing games), we are now in a foreclosure, and If we do everything they request, not to mention have the documents via sent certified to the attorney they hired for foreclosure and appeal to the judge the judgment we have to answer to in 15 days, We should be given a loan modification with no problem and not loose our home. We will be back soon to revamp this article to you guys.
If I had a choice on what this article headline should read it would be. Saxon accepts bailout money but will not modify loans to help the economy in Obamas plan in dealing with foreclosures. Sad to say this sounds like what is happening in all of these articles I have read. Being from New Orleans, LA, everyone should know about the hardship with hurricanes and the city trying to rebuild the economy back here. Why Saxon would want our property back beats me, It has been depreciated so much from hurricanes, not to mention we have over 10 houses in our neighborhood that has a “FOR SALE” sign, and it has been going on for over 6 months now with these properties.
They will have a hard time trying to get it sold not to mention the huge homeowners insurance we all have to pay in Louisiana; also, who is to say a hurricane will not destroy it later and destroy our economy again. I know this sounds nut’s but, I think it is in Saxon’s best interest to be nice to people down in the South who want to stay with stable jobs and work with them, while you have others who want to just get out because of hurricanes and poor jobs and lapse on their mortgages to just get out of here and file bankruptcy.
Maybe if they reject us one more time, it may be a good thing to get out of here and away from hurricanes and file bankruptcy. P.S. I will have a second article to write to let you guys know what happened!”