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JusTooKool · 03-05-2008, 08:16 AM

My wife and I relocated in the middle of last year. There was of course moving cost and having to get a home where we moved. We ended up with a payment on the house that we left and rent on the house that we currently live in. With the moving cost ... Wife not getting a job quickly ... and other issues ... We were unable to pay December and January's payment.

I then recieved a letter saying that I had to pay all 3 months plus penalities and late fees. I called in and explained the situationa and offered to pay Feb's and asked for a repayment plan. They refused to take one payment and proceeded to ask a number of questions ... Telling me to call back on March 4 and they would then give me my options. This is what I was going to do.

Then over the weekend I found this site. Knowing that with March's payment now due I was in danger of foreclosure and that I would owe four payments.

I contacted the lost mitigation deptartment yesterday but their systems were down. When I got a hold of them today and explained the situation, went over the budget, and asked about paying March's payment and having the other 3 payments moved to the end of the term, along with getting a lower interest rate on a fixed instead of the 3/27 arm which becomes variable in May. This what the lady suggested. I want to know if it was a good thing.

She stated that she could not guarantee but they did not want to foreclose on homes right now because they had enough of those already. She then offered to take a post dated check for March 21st for Feb and March's payment ... stating this would give the litigation department time to look at my case ... Then she emailed me a finicial package to fill out and mail back along with a budget, pay stubs, and bank statements. She said that if I was willing to do this then there is a good possiblity that I could get the other two payments moved to the end and get a locked in interest rate. At the worse she said they may lock in the 7.7% I have now and move the other two.

Should I believe this? Are they generally easy to work with? Is this a good deal?

03-05-2008, 08:16 AM	#1 (permalink)
JusTooKool Junior Member Join Date: Mar 2008 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Need some advice on Saxon Mortgage My wife and I relocated in the middle of last year. There was of course moving cost and having to get a home where we moved. We ended up with a payment on the house that we left and rent on the house that we currently live in. With the moving cost ... Wife not getting a job quickly ... and other issues ... We were unable to pay December and January's payment. I then recieved a letter saying that I had to pay all 3 months plus penalities and late fees. I called in and explained the situationa and offered to pay Feb's and asked for a repayment plan. They refused to take one payment and proceeded to ask a number of questions ... Telling me to call back on March 4 and they would then give me my options. This is what I was going to do. Then over the weekend I found this site. Knowing that with March's payment now due I was in danger of foreclosure and that I would owe four payments. I contacted the lost mitigation deptartment yesterday but their systems were down. When I got a hold of them today and explained the situation, went over the budget, and asked about paying March's payment and having the other 3 payments moved to the end of the term, along with getting a lower interest rate on a fixed instead of the 3/27 arm which becomes variable in May. This what the lady suggested. I want to know if it was a good thing. She stated that she could not guarantee but they did not want to foreclose on homes right now because they had enough of those already. She then offered to take a post dated check for March 21st for Feb and March's payment ... stating this would give the litigation department time to look at my case ... Then she emailed me a finicial package to fill out and mail back along with a budget, pay stubs, and bank statements. She said that if I was willing to do this then there is a good possiblity that I could get the other two payments moved to the end and get a locked in interest rate. At the worse she said they may lock in the 7.7% I have now and move the other two. Should I believe this? Are they generally easy to work with? Is this a good deal?