Saxon gets tax dollars for mortgage modifications

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.

2 thoughts on “Saxon gets tax dollars for mortgage modifications

  1. Saxon is receiving tax dollars? But how many modifications are completed. The loan modification required payments for June, July, August. A letter I received dated September 1 falsley claimed remaining missing documentation and a 2 month extension of the trial period (which by the way, I did not agree to, Saxon just informed me). I have sent and resent documentation so many times it is obviously just a scam.

    Any real data on loan modifications should be scrutinized – are those trial modifications? or actual completed modifications?

    And now Saxon wants to claim a missing payment in September?? Definitely time to spend the day finding legal action to participate in against this fraudulent mortgage company!

  2. Saxon refused a $24,000 equity line of credit, but offered $100,000 more than requested if I took a new mortgage.

    They would not work with us for modification, would not give the name of the actual mortgage holder,They would not wrap arrearages or help in any way to assist in our keeping our home.

    Their answer was “sell your house’.

    The absolutely worse people to deal with.

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