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.
Recipients of this first round of money are Chase Home Finance, Wells Fargo, GMAC Mortgage, CitiMortgage, and Saxon Mortgage Services and Select Portfolio.
Companies can receive a maximum of $9.9 billion dollars.
It is time for scrutiny and detailed monitoring of Saxon to see if the money actually translates to results for struggling homeowners.