Saxon Mortgage

Meli Van Natta April 15, 2010 at 12:36pm

I did a Short Sale with Saxon that was quick and easy. Then the buyer got in a car accident and died. I sold the house again and it's been a nightmare all the way! Seven months later, we had an approval, missed the closing date by ONE DAY and cannot seem to get an extension! Worst problem with this company is the inability to get someone to respond.

Debra J rickert February 18, 2010 at 2:35am

Please contact me I need help wwith a short sale, it is awful and stalled so much heartache.

Debra J rickert February 18, 2010 at 2:33am

Debra J rickert said:

Jeanne Kozak said:
I have had one deal with Saxon and it was the fastest short sale I have ever done, listed-contract-closed in less than 60 days. The agent that wrote the offer had never done a short sale and I gave her all the horror stories to prepare her. She prepared her buyer and we were set to wait...and wait. We were contacted within a week of submitting the offer. The only thing that I was a little troubled by was that once we got the offer, Saxon then tried to do a loan modification with the seller, even though previosly the seller had tried and was only given a temporary modification. Saxon tried to get them to stop the short sale and modify, which was not in the sellers best interest due to their circumstances. We would have lost the buyer. Saxon was not prepared to reduce the principal balance, which is the only thing that would have made sense as it was substantial, maybe $100,000+. Once I talked with the seller and we looked at all their options, they chose to continue with the short sale. This seller was in this position because of the decline in market values, not over extending themselves. If Saxon had reduced their principal balance they could have stayed in their home. Have you ever thought of this...if the lender can short sale a property to a new buyer, in this case $225,000 price...why can they not modify the present owner...aren't the results the same? A loan of $225,000, an owner whose credit is not ruined, cost savings of the whole short sale/foreclosure process, a sale of another home to the new buyer, and most importantly appraisals not such a huge issue by these artifically low because of the short sales. Can you imagine how the market would improve without short sales? Well anyway, once the seller turned down the offer to modify, it went very quickly. I have also found that it may not be the servicer(Saxon) but the investor or the PMI company that take a long time. I would be happy to share our contact at Saxon that we had if you want to contact me.

Debra J rickert February 18, 2010 at 2:33am

Jeanne Kozak said:

I have had one deal with Saxon and it was the fastest short sale I have ever done, listed-contract-closed in less than 60 days. The agent that wrote the offer had never done a short sale and I gave her all the horror stories to prepare her. She prepared her buyer and we were set to wait...and wait. We were contacted within a week of submitting the offer. The only thing that I was a little troubled by was that once we got the offer, Saxon then tried to do a loan modification with the seller, even though previosly the seller had tried and was only given a temporary modification. Saxon tried to get them to stop the short sale and modify, which was not in the sellers best interest due to their circumstances. We would have lost the buyer. Saxon was not prepared to reduce the principal balance, which is the only thing that would have made sense as it was substantial, maybe $100,000+. Once I talked with the seller and we looked at all their options, they chose to continue with the short sale. This seller was in this position because of the decline in market values, not over extending themselves. If Saxon had reduced their principal balance they could have stayed in their home. Have you ever thought of this...if the lender can short sale a property to a new buyer, in this case $225,000 price...why can they not modify the present owner...aren't the results the same? A loan of $225,000, an owner whose credit is not ruined, cost savings of the whole short sale/foreclosure process, a sale of another home to the new buyer, and most importantly appraisals not such a huge issue by these artifically low because of the short sales. Can you imagine how the market would improve without short sales? Well anyway, once the seller turned down the offer to modify, it went very quickly. I have also found that it may not be the servicer(Saxon) but the investor or the PMI company that take a long time. I would be happy to share our contact at Saxon that we had if you want to contact me.

Wendy Rulnick October 10, 2009 at 5:00am

Jeff, You are so good at that!! I think it's time you start a group Saxon Mortgage!! What say you?

Glen Evans October 9, 2009 at 8:41am

Hi Ron, Hope this helps, Loss Mit. 888-325-3502 Authorization, 817-665-7750 Short Sale, 817-665-7377

Ron Wysocarski said:

would anyone be able to post the contact numbers, names , etc for us? Thanks

Jeff Payne October 4, 2009 at 2:39am

Please do not us my name as a referral.

Michael Kim

Home Preservation Manager

Saxon Mortgage Services, Inc.

4708 Mercantile Drive

Fort Worth, TX 76137

Phone: 817-852-2430

Fax: 817-852-2821

Email: kimm1@saxonmsi.com

The Loss Mitigation Dept is run my Scott Rodeman rodemans@saxonmsi.com

Ron Wysocarski October 3, 2009 at 11:10pm

would anyone be able to post the contact numbers, names , etc for us? Thanks

Laurel Starks October 3, 2009 at 5:51pm

I just closed a Saxon short sale that took 17 months. Nathan Higgins was my negotiator, and I went through a slew of them before I got to him. He is not a supervisor but was communicative and patient with me as I LOST my mind several times throughout the process. His email is: HigginsN@saxonmsi.com. Don't use my name as a referral.....smoke will probably come out of his ears and he will go into convulsions if hears my name......I gave him many heart attacks.

Anyway, hope this helps!

Jeff Payne August 25, 2009 at 7:52am

Update on my Saxon Mortgage nightmare.... Saxon wanted my seller to sign a promissory note of about $530,000 to be paid back over 20 years. Seller said no, actually HELL NO!, and held his ground. I escalated it to the head of their Loss Mitigation department. Saxon settled for $5000 lump sum instead of the promissory note of $530,000.

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