SAXON Loan Modification SUCCESS!!!

[Andrew]

Congratulations This Is Being Moved To Success Stories

[Cat Damiano]

Bernz,

That is great news..............at least it is fixed at your initial rate for 5 years.........
Does it work for you at least???
Are you going to sign this so I can move you to success

[Andrew]

It's moved already

[Cat Damiano]

Well thank you for that.........

Bernz,


Congratulations on the Mod!!!!!!

[bernz]

Bernz here- well saxon mod is not going well. They locked my rate ot 9.2% for 5 years, added taxes and added 100 a month for back taxes over 3 years, payment went from 1809 (thats when i was having trouble to 2253, and i just cant swing it. I called the loss mit rep a1 month into it and let her know that this was not working and that i needed some payment relief in from of lower rate, etc, have not heard back. I called hope now and they could not understand how saxon came wup with 2253, as their proposal was 1500.. he re-did all my finances and sent another proposal to saxon, im am definately not thinking this is going to go well at all! I thought about the hope loan through FHA that is comign out, but i have a 10% second mortgage on the house used for purchase money, and that is going to block my chances for a hope loan.. I have never heard of them redoing a modification or doing a new one. So it looks like im out of options at this point

[Cat Damiano]

you will have to see what they say..............

I hope it works out for you........

[bernz]

I will let you know!!

[bernz]

Well, I have won yet again.. reduced rate from the start rate of 9.2% to 6.0%knocks payment down about 700 a month!

[schwefls]

Bernz great news kudos to you

[luvtocrop]

I also have a Saxon loan and just modified my loan so that my interest stays fixed for another 5 years. How did you get them to lower your interest? I have already signed papers, is it too late to ask for more?