Comment

Comment by Gene Montemore on August 29, 2011 at 12:43pm

Hello, I am an Arizona Realtor, and personally have a Saxon-acquired mortgage (originated by Amtrust). I am interested to know:

 

1) If anyone has any knowledge of how much these notes were acquired for.

2) If anyone has any knowledge of payoff settlement.

 

The home is worth approximately $65,000 and the loan is for $200,000.

 

I am also considering shorting it, but will they allow this if I am not behind, and have money in the bank?

 

Any help is greatly appreciated.  Thank you in advance!

 

Comment by Bobbie Files on April 18, 2011 at 6:13am

Hi David,  The lenders (in my experience) do not care what their total debt is.  The question that I see a lot and how in my experience the mod needs to be structured, is that if the 1st is above 31% of their gross income than they are a mod candidate.  If it isn't than they really aren't.  I have seen some lenders flex on a mod due to high medical expenses, but not just for a seller with high debt.

Comment by Bobbie Files on April 18, 2011 at 6:09am

What is with the phone number CONSTANTLY being busy??? An irritant to have to go thru all their numbers to get a live body....than you beg NOT to be transferred!! For updating to the system above, the extension # you want to enter is 115530

Comment by Kevin - Greenville, SC on February 21, 2011 at 4:52pm

A caller on the Dave Ramsey show today commented on how they were offered (unsolicited) by Saxon to settle their mortgage/note for $40,000 when they owed around $140,000 if they could come up with the money in 30 days.  

 

They were not late on their payments and the property is located in Florida.

 

Maybe Saxon purchased their note from the FDIC for .10 cents on the dollar and are just looking to generate cash.

 

Any thoughts? Similar experiences?

Comment by David Dee on January 13, 2011 at 7:50pm

Anyone has success doing a loan mod with Saxon? I was helping a nice lady with her mortgage situation and we found today that Saxon denied the loan mod due to insufficient income. The income submitted was 8k and their expenses were 6k. They have an ARM loan and so this should be a good candidate for a loan mod as the owner wants to retain her home. Anyone able to help a homeowner modify a successful loan with Saxon? I'm just puzzled at why it took them months to review and came back with this outcome.

Comment by Cindy Jones on December 8, 2010 at 10:37am

PMI company still holding the line and not even providing owners with a counter-offer to our offers. Now want to know if they should "close the file". Owners don't have the cash or want to be stuck with a huge promissory note. We seem to be at a crossroads. Next step could be bankruptcy. Any suggestions on last minute options? Never had a lender ask for this type of compensation or be so unwilling to discuss reasonable compromise.

Comment by Angela Pitre Reddy on November 29, 2010 at 9:42am

I finally got a HAFA approval from Saxon with $3k going to the seller at closing and just think I have only worked on it since July...

Comment by Joe Barnwell on November 24, 2010 at 2:57am

That seems excessive.... I'm assuming it must be due to the PMI company. What PMI company is it?

Comment by Cindy Jones on November 23, 2010 at 12:01pm

Saxon just gave us their offer. $15,000 CASH and $60,000 promissory note. Excuse me? Said this is from PMI company to "cover their losses." Anyone had this type of response from Saxon?

Comment by Cindy Jones on September 21, 2010 at 2:57am

Please update SS Package fax number to 1-888-240-1885.

• ‹ Previous
• 1
• 2
• 3
• 4
• Next ›
• Page