3 comments

I have been trying to negotiate a "short sale" with the 2 companies holding mortgages on my house. After 6 months, American Home Mortgage (which is in bankruptcy and seems to have virtually no employees. Takes up to 40 minutes on hold to speak with anyone) agreed to take a loss.

However, the second mortgage was held by Saxon Mortgage, and they will not respond to faxes, letters from my lawyer, emails or telephone calls. "Anthony" has been "away from his desk" since May, so the potential buyers have withdrawn their offer and the house will probably go to foreclosure.

Anybody who says "work out something with your bank" ought to know that the "banks" are paralyzed. Good luck!

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Anonymous
#413311

Not all banks are paralyzed but Saxon certainly is. It's not a cure-all but what helped in my case was to write lots of letters and cc the world, state and federal legislators and regulators, state banking department and attorney general, Morgan Stanley (Saxon's parent company), the BBB, local newspapers and TV stations, yada, yada, yada

Anonymous
#51308

JJ....Very few people choose to do business with saxon..

that's why they aquire their mortgages through other companies. Most people just end up with Saxon.

And once you're there...it's not easy getting out from under their thumbs.

Anonymous
Broadbeach, Queensland, Australia #21161

Yeah they suck, my wife and I were buying a short sale home and after three months of waiting with minimun to none feedback, they came back to us asking for 27k more than our offer.We told them to eat S*** and D*e.

that same day we found a new house brand new for the same price and closed it within two weeks.I will never do bussinnes with a company like Saxon Mortgage.

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