Saxon Mortgage calls have stopped........is that a sign?

[luckythirteen]

I missed my first payment in April of 2009 on both my first and second purchase money loans that are both with Saxon Mortgage. We had been getting calls daily, sometimes as many as 8 a day, but the past three to four weeks or so they have completely stopped altogether.

We are trying to stay here rent free as long as possible and every so often, about once a week, I would answer the call and tell them I am still unemployed, which I am, so I dont qualify for the programs they have to offer and that we are going to try and do a short sale. That seemed to satisfy them enough and I was easily able to get off the line with them and they had always been telling me I was not in a foreclosure status with them as of yet.

Does the ceasing of the call tell me anything about where this may be going? I am surprised we have not gotten a NOD as of yet as it is, but wouldnt mind staying longer.

[we're_still_reviewing]

Originally Posted by luckythirteen

I missed my first payment in April of 2009 on both my first and second purchase money loans that are both with Saxon Mortgage. We had been getting calls daily, sometimes as many as 8 a day, but the past three to four weeks or so they have completely stopped altogether.

We are trying to stay here rent free as long as possible and every so often, about once a week, I would answer the call and tell them I am still unemployed, which I am, so I dont qualify for the programs they have to offer and that we are going to try and do a short sale. That seemed to satisfy them enough and I was easily able to get off the line with them and they had always been telling me I was not in a foreclosure status with them as of yet.

Does the ceasing of the call tell me anything about where this may be going? I am surprised we have not gotten a NOD as of yet as it is, but wouldnt mind staying longer.

I'm surprised you haven't gotten a NOD yet. What state do you live in ?
Maybe they are backlogged. Or, maybe they are getting the paperwork together for the short sale. But, if I understand correctly. To do a short sale, you have to have your house up for sale for at least 90 days. I don't know. Is there anywhere you can check to see if a NOD has been filed. I know you have to get a copy in the mail but can you check the county website.

Good Luck to you.

[luckythirteen]

I live in WA state. I have noticed that there have been alot of people on this site who have not gotten a NOD after multiple months and have stayed in longer than normal.

I have been told by them that I do have to have it listed for at least 90 days. I have not listed it as of yet, however I have told them of my intention to do so. I have NOT sent them any paperwork regarding a short sale since they only will accept it once an offer has been put in on the property.

I wonder if now is the time to list the property as a short sale. I bought for $445k and owe more than that now since I have missed so many payments and late fees involved and at $2780 a month that adds up.

A similar house by the same builder (new in 2006) went to short sale for 330k a few months ago and our exact same house/floorplan went to short sale and was bought by an investor for $265k and he tried to resell it and has been unsuccessful so far.

If my sole goal at this point is to extend my time in the house, and let it go to foreclosure and hopefully get a cash for keys deal, I wonder if my strategy at this point since I have made it this long is to actually list the house for short sale, but at a price that is a little high to actually get an offer so I can garner the additional 90 days of rent free living. I would like to make it to the spring before I have to move.