Loans, Debt & Credit - View Single Post - Saxon Success with Obama Mod!! Have question?!

Liliane · 09-19-2009, 01:25 PM

I thought 2MP says that if they do a HAMP mod on the 1st, one HAD to be done on the 2nd...?

question for keegee23 and rlhoneydew: Did you count your 2nd loan payment in your bills on the HAMP application financial sheet you did for Saxon?

Saxon is the servicer for both our loans. I'm posting the following chronology to share my experiences and the information I’ve gathered. I would appreciate any feedback or advice.

1. May: Applied for HAMP by phone, they said we didn't make enough money, but they would try to qualify us for a trad. mod.; I should get application papers to them by June 1. While I was preparing the docs, Shapiro Ingle went ahead with a hearing and got an order for foreclosure sale (i.e. they foreclosed during active negotiations).

Wells Fargo is the one foreclosing, but my HUD counselor called them and they had no record of us or our loans. Called the Fed; they say Saxon is not a servicer for WF.

2. June/July/Aug.: Saxon letter saying they had reviewed our file for HAMP… call them asap.; 3 reps told us our HAMP mod was already approved. Gave us the payment amount, interest, due date, said the papers were being Fed-Exed that day, etc.

They called back 30 min. later and said we didn't qualify for HAMP, but we should still send in the papers and they maybe could do a traditional mod. Their proposed mod/s were laughable. We didn't even respond and expected them to set sale date for house.

3. Sept: Saxon rep said they had stopped all foreclosures until after Sept. 11 because their “Tri Calc” was being updated; we shouldn't worry...no sale scheduled for our house; they would contact us after 9/11 so we could re-apply for HAMP.

Just to be sure, I called back and asked specifically about the 2nd loan status. This rep said that the foreclosure sale was scheduled for Sept. 10 and that they weren't doing mods on 2nds. I called Shapiro Ingle… “no sale scheduled”.

Last week: Saxon letter saying we didn’t qualify for HAMP, but they would try to do another traditional mod with updated info (this was before they had updated info); we should send in application package. Said 2nds are not eligible at all for HAMP.

I'm thinking that they overlooked the 2nd when they gave us a HAMP, but then realized at the last minute that they'd have to modify the 2nd too and changed their story. Now trying to force us into usurious modifications. We got a lawyer.

I would greatly appreciate any thoughts on this.

Thanks.

09-19-2009, 01:25 PM	#13 (permalink)
Liliane Junior Member Join Date: Jun 2009 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Saxon Success with Obama Mod!! Have question?! I thought 2MP says that if they do a HAMP mod on the 1st, one HAD to be done on the 2nd...? question for keegee23 and rlhoneydew: Did you count your 2nd loan payment in your bills on the HAMP application financial sheet you did for Saxon? Saxon is the servicer for both our loans. I'm posting the following chronology to share my experiences and the information I’ve gathered. I would appreciate any feedback or advice. 1. May: Applied for HAMP by phone, they said we didn't make enough money, but they would try to qualify us for a trad. mod.; I should get application papers to them by June 1. While I was preparing the docs, Shapiro Ingle went ahead with a hearing and got an order for foreclosure sale (i.e. they foreclosed during active negotiations). Wells Fargo is the one foreclosing, but my HUD counselor called them and they had no record of us or our loans. Called the Fed; they say Saxon is not a servicer for WF. 2. June/July/Aug.: Saxon letter saying they had reviewed our file for HAMP… call them asap.; 3 reps told us our HAMP mod was already approved. Gave us the payment amount, interest, due date, said the papers were being Fed-Exed that day, etc. They called back 30 min. later and said we didn't qualify for HAMP, but we should still send in the papers and they maybe could do a traditional mod. Their proposed mod/s were laughable. We didn't even respond and expected them to set sale date for house. 3. Sept: Saxon rep said they had stopped all foreclosures until after Sept. 11 because their “Tri Calc” was being updated; we shouldn't worry...no sale scheduled for our house; they would contact us after 9/11 so we could re-apply for HAMP. Just to be sure, I called back and asked specifically about the 2nd loan status. This rep said that the foreclosure sale was scheduled for Sept. 10 and that they weren't doing mods on 2nds. I called Shapiro Ingle… “no sale scheduled”. Last week: Saxon letter saying we didn’t qualify for HAMP, but they would try to do another traditional mod with updated info (this was before they had updated info); we should send in application package. Said 2nds are not eligible at all for HAMP. I'm thinking that they overlooked the 2nd when they gave us a HAMP, but then realized at the last minute that they'd have to modify the 2nd too and changed their story. Now trying to force us into usurious modifications. We got a lawyer. I would greatly appreciate any thoughts on this. Thanks.