bigger question.. why did you send in 4 offers on the same property.. the seller (barrow) should have picked the highest and best offer and submitted only that offer. I have not worked with Saxon. I sometime find that if the barrow calls and ask how then can get things cleared up they jump.. ie they barrow has the money.

COnsider  TheShortSaleCompany.com Yes, they take a cut of the commission but they do everything. No results and they don't get paid. I'd rather give away part of the commission and have them spend the countless hours tracking down the bank.  I've got bigger fish to fry. Hope this helps. Check them out.

Stella, I have one submitted to Saxon.  That was on 1/18.  I had to fax almost every day.  They finally "located" the package on 1/30.  They said it was assigned to a negotiator then.  I have had no communications from them to me, but in terms of common response time, that's getting normal.  Wendy

Eric- all offers were different.

Jerry- Tanks for commenting.  Not interested in using a company.

Wendy- Thanks for your comment.  I have just had so much trouble with them. 

I'm currently dealing with Saxon Mortgage and they have rejected 2 of my offers so far and the trustee sale date is coming up on February 25th, 2008, and I'm waiting for their latest response to an offer where we are only $11,000 apart from where they want to be and it's been two weeks of no call back or email with a response. In a nut shell they suck...

Mike - Sorry you are going through this.  I can't believe how unresponsive they are.

RUN!!!!!!! DO NOT WALK AWAY FROM ANY DEALINGS WITH THIS COMPANY!!!! RUN AS FAR AND AS FAST A YOU CAN.  LOOK UP THE RIP-OFF REPORT ON THIS COMPANY ON THE SECOND PAGE AND READ THE HORROR STORIES OF PEOPLE WHO HAVE BEEN RIPPED OFF BY THEIR "SHADY, ABUSIVE" FEES.  DO YOU REALLY WANT TO GET TANGLED UP WITH THIS COMPANY?  HOW LONG BEFORE YOU ARE ONE OF THE ONES LOSING YOUR HOME TO THEM?

Hey Stella,

     I have to agree with kandie...  They are not set up to handle the amount of work load that was pounded on them.  I've only dealt with them a hand full of times and I can tell you that you need to find the right agent handling your file and send the file via mail.  Any type of mailing as long as it has a tracking number to it.  And FAX to them only at night.  Plus, do not send in multiple offers unless they reject the one you submitted.

Good luck and if they are your 2nd then you might as well reassess your plan of attack...

Kandi - thanks for the comment.  I read the ripp off report too.  It is horrible.

John - They are very disorganized. 

Saxon is the loan servicing division of Morgan Stanley and has a reputation for working with homeowners but taking advantage of those owners when they can. By the way Saxon laid off 300 people on Thursday, hope it was not one of your guys...

Paul - Thanks for the info.  That is helpful

Just wanted to comment on Saxon 's taking advantage of homeowners.  My husband and I have fell behind on our mortgage and were attempting to work with Saxon to get back on track and not lose our home.  They told us that they couldn't help because our loan isn't old enough and even when I attempted to pay them a payment they wouldn't accept it because it wasn't the full amount due.  You would think they would help out those that wanted to do whatever it takes to keep their homes but apparently not. 

Frustrated to no end - I understand that they are closing up shop and that is why they are not responding to short sale requests.  Not sure how true that is but that is what I have heard.  You could file Bankruptcy and pay your arearage through a plan payment if you can continue to make the payments.

I have been trying to deal with this company on a forcloser in my area. I have just been getting the run around and number after number does anybody have a contact name for a home that has been forclosed on. I would like to call and get information

I have been trying to deal with this company on a forcloser in my area. I have just been getting the run around and number after number does anybody have a contact name for a home that has been forclosed on. I would like to call and get information

Brandy:

Morgan Stanley is closing this division.  that is what I keep hearing.  Not sure.  my property foreclosed and I had offer higher than now listed by them.  

I have recently contacted Saxon who now holds my mortgage (it was sold to them) to try to negotiate some arrangement since my interest rate is now an unbelievable 12.5%.  They are cold and rigid and not willing to negotiate in any way. The agent I spoke to, Dena, had nothting more to tell me than "I have given you the paramaters".  Of course their paramaters were totally unacceptable and non-negotiable.  In this time of economic horror it is hard to believe and understand why any company would behave in this way.  They have nothing to gain if they foreclose on my property.  They are the personification of stupid and evil people and management.  Nasty, nasty, and most of all stupid.  Not a brain cell in the company.  They should be shut down immediately.

In Shock - Wow.  I can't believe that.  I hope things get better for you.  Thanks for leaving your comment.

UNFORTUNATELY, YOU PROBABLY NEED TO BE PAINFULLY AWARE THAT THIS LENDER DOES WANT TO BE IN THE REAL ESTATE BUSINESS.  IN OTHER WORDS, THEY WANT THE REAL ESTATE INSTEAD OF TRYIN G TO WORK WITH PEOPLE TO KEEP THEIR HOMES OR DO SHORT SALES.  I HAVE LEARNED THAT IF A LOAN HAS PRIVATE MORTGAGE INSURANCE, YOU CAN KISS THE REAL ESTATE GOOD -BYE AS THEY ARE COVERED.  IF THIS IS A PROPERTY WHERE  THEY HAVE BEEN SERVICING THE LOAN FOR LESS THAN A YEAR, THEY PROBABLY HAVE NO INTEREST IN HELPING AS, I UNDERSTAND, THE PREVIOUS COMPANY MAY BE FORCED TO BUY IT BACK FROM SAXON.  YOU WILL GET THE RUN AROUND, PEOPLE WILL TELL YOU DIFFERENT STORIES JUST TO GET RID OF YOU AND IF YOU DO SEND PAPERWORK, YOU PROBABLY WILL NOT GET A REPLY.

NOVASTAR SOLD THEM MY LOAN IN NOV., 2007.  I HAVE BEEN TRYING TO ET MY 12% INTEREST RATE REDUCED SINCE THEN.  TO NO AVAIL.  I TOLD THEM THAT I WOULD PROBABLY GO INTO FORECLOSURE.  THAT IS OKAY WITH THEM.  I BELIEVE THAT ARE MAKING A PROFIT FROM FORECLOSURES OR THEY WOULD WOULD WORK WITH THE PEOPLE WHO HAVE THESE HIDEOUS RATES.  PLEASE GO TO NACA.COM.  THEY FORCED FLEET MORTGAGE TO CLOSE ITS DOORS AND THEY MADE COUNTRYWIDE REASSESS THEIR LENDING PRACTICES.  I UNDERSTAND THEY ARE NOW WORKING ON OCWEN.  LOTS OF CLASS ACTION SUITS ONLINE  FOR SAXON.  IT MIGHT BE WORTHWHILE TO LOOK THEM UP AND CONTACT THE ATTORNEYS INVOLVED.  THANKS. 

Stella, they all suck. Mainly, because they are under staffed and most of the newbies don't know what going on. Just stay consistent you won't win them all

Cher- Thanks for your comment.  I will look those class actions up and forward to my clients

Klargue - Thanks for stopping by and commenting.  I don't like not winning them all. 

Stella,

I have been currently dealing with them over the past 6months. We did have an accepted offer on a short-sale after three months of calls everyday, however once excepted the buyers walked. I then placed the property right back up to receive offers again so here I sit over a month later going through the same thing I have contacted the attorneys on this matter, I have very upset clients along with very upset buyers, all I can say is that I am doing the best I can to come to the bottom of this. If you are still dealing with them I would love to hear what your recent expierence has been. Good Luck! And Keep your head up!

Aili - Thanks for sharing your experience.  No one has had a good experience with them.  I am not dealing with them anymore.  I will be posting an updated version of this Post.

Stella,

I have had an offer submitted to Saxon since the middle of October and still have not received an answer.  I had to send the offer multiple times.  I've called  several times just to have the sheriffs sale postponed, and now I find the offer has been passed on to someone else.  If I had hair I would pull it out dealing with Saxon.

James - I am glad you and so many others have left a coment on their horrible experience.  It helps others.  I feel for you. 

Oh My Goodness!!! They are absolutely horrible. I have them as my mortgage company on my investment property they are useless!!! They have yet to answer me on my deal which has been since December 2007. They claim they have the complete package and then I call after numerous calls and it had not been assigned to a negotiator yet as of today. I had to send the whole package again because now they say " You know I do not see any paperwork from you" That was it I blew up!! This company is a joke and yet they make statements on the ineternet that they are going the extra mile tohelp the homeowner ...what a crock of you know what..... I have almost given up with them , my last attempt was to send it certified which was this week so I could have proof of who signed for it but alotta good thats gonna do me.....Hope that helps but if you happen to get through to this infamous department please post back to me and let me know!!

Call me stupid... but - at least wish me luck.  I'm putting in a contract for a short sale w/ Saxon.  Wouldn't do it if the house wasn't so darned good.

Angela

Saxon Mortgage is horrible to deal with, and they might have PMI on their loans and that's why they won't approve most of the short sales for market value since they are getting an undisclosed amount from their insurance..

Is that even legal?

Traci-Keep me informed on your situation.

Angela - good luck.  I hope it works out for you.

Mike - That explains their lack of helping.

Traci - I think so. 

i tried everything with saxon, even brought them a cash offer, but they decided at the last minute they were going to look for a better offer on the "open market" This house has been on the market for two years....

they totally suck, ditto to all the above articles

Saxon Blows - So sorry about that.  That is just crazy

Ok well, I am completely going to agree with all of you in regards to saxon....I have posted on this before, but as for me, I did accomplish getting 2 deals succusfully accepted through them, with alot of calling and begging..However, by the time Saxon had finally answered me, the buyers walked, so here I sit with the house back on the market today! Well, the only thing I can honestly tell you to do is to keep calling everyday and leaving a message for your contact, after you leave a message call loss mitigation @ 888-325-3502. Speak to a Rep. Demand that you talk to a supervisor, more then likely they will tell you that they will send an email in regards to your situation. This, took several times of calling but finally I got my contact to call me back and she was very quick to have my offer accepted. It shouldn't be like this pulling teeth to get an accepted contract but with this company it is. The sick thing is, is we do all this work and for what they only allow a 4% commision, 2 for you and 2 for the buying side, and only up to 3% in seller concessions. So for all of you dealing with them good luck, I'm just hoping I get a contract in the next few days before my clients house goes to sherrif-sale.

Thanks,

Aili Stone, Realtor

Aili - Thanks for keeping us informed.  I get e-mails from homeowners regarding this subject because they see the blog and comments.  i hope Saxon reads this too.

Lol! I know I posted one also, not to long ago, and I got a call from a customer of theres from minnesota. Keep postin!!! Have a Great Day!

Aili - I hope they see what they have done to homeowners.  That was the purpose of me posting about them.  Lots of negative response.

Stella- there is nothing but negativity all over the internet about saxon...Its actually very said, in regards to all their customer complaints, I even read one article where they where under investigation. Something has to happen!

Ailli - Thanks for the comment

I have been involved in a Short Sale transaction since October 2007.  Saxon purchased this "bad loan" in December.  They received our package and we have called everyday for a progress report with little or not retrun calls.  Because of their procrastination, 2 high offers have fallen through.  The market prices have dropped so significantly that now the offer we have is higher than the value of the home.  The buyers want to buy the home and are very frustrated!  We have been told we are in the final approval stage but the bank will not give us a time frame as to when to expect an answer.  We have called the processor, his supervisor, customer service and continue to fax them to get any response.  Doea anyone have any other ideas as to how to get Saxon to move forward on a 6 month old deal?

Concerned Realtor - No ideas.  It seems as though you are really working hard for your clients and are doing everything you can.  I am surprised they did not foreclose behind your back already.  Very unusual.  From all the other comments, it seems as the norm for them to ignore the fact that they have an offer that they probably won't see again due to the declining market. 

I have been trying to work with Saxon since Feb 08 on a short sale.  I submitted a offer then and Saxon never got back in touch with me despite numerous emails and calls to my contact at Saxon.  The first offer walked.  Now just today I submitted 3 offers.  They have posted a foreclosure sign on my lawn with a May 10 law date.  The debt collector that is handling the forclosure tells my lawyer that we have to deal with Saxon until the May 10th.  When I ask what is taking so long the contact"Larry" tells me that they are really busy! Can you imagine telling a customer that!!! No matter how many lifes they ruin and their lack of professionalism they are still in business.  Does anyone know for sure if they are closing their doors? Saxon must be making money on the insurance end of all the loans/foreclosures.  Saxon even had the locks changed on my house and "winterized" it without notifiying me.  My house has been on the market and empty since December 2005!  I have carried the utilities on this house just for showings.  Anyone have any ideas on someone to contact?   I've heard of some civil suits against Saxon. Maybe that is my next Option!

I believe before it is over all the lender will have a bad name because they are not consistent in their practice nor are they fair or clear in how they do their approvals.  Meanwhile there are homeowners losing their homes every minute of the day.

Gail - Thanks for sharing your situation and I hope that others will be able to help with responses.  I am sorry for your hardship and hope things get better for you.

Rosemary - Tell me about it.  I am just sick of the way the banks are treating their customers. 

Saxon is a joke. After month sof waiting for an answer on my own property they have said they dont have any paperwork. Well I did contact one of the attorneys for the class action lawsuits. I sent in my paperwork by FEDEX had someone sign for it and low  and behold now as of 4/08/2008 they say it has been assigned to a rep but it will take 30-45 days for an answer.. I am not expecting to hear from them. I do want to say they have been extremly slow at reporting it late I am going on 6 missed payments because of them and I am not even in the foreclosure process yet. Not even a Lis Pendens. I hope to get it soon just sp I can be done with this. I have kept detailed logs of every conversation or any dealings with them as the attorney advised. I do have my home listed with another realtor for short sale but I am dreding the day the offer comes in for on it for short sale approval!! Wish you all the best of luck with them. In reagrds to Ali, I am glad you got as far as you did with them but it is absolutely ridiculous the hoops we have to jump through for  this. Saxon will always be a joke in my book and I can honestly say I do know first hand they are my Lender!!!!

Traci - Thanks for stopping by and good luck with your lawsuit with Saxon.  They deserve any bad publicity we can give them.

I have been trying to conduct a short sale on a Saxon home for 7 months. Paperwork lost 3 times. Noyhing in writing. Promise of payoff paperwork every two weeks. They keep "approving the sale" verbally. Now it is on the Mortgage insurance desk.

Has anyone actually received notice of approval on a sale in writing or even payoff paperwork at closing?

Oh no!  I'm starting on a Saxon short sale today.  Looks like I will be handing it straight to my client's attorney to handle!

Tina in Virginia

Norcal - I know the feeling.  They acted like they never got my paperwork a few times also.  I am not sure about whether or not Saxton has actually completed a short sale.

Tina - Good luck with it.  I hope for the best for you.

I have had 2 dealing recently and both were approved. One took several months and the other took 45 days because it was closer to sale. I generally give the bank the offer the lower offer within reason and once we have an approval counter all agents in the file at the bank terms of the approval and see who takes it. That way you have room to negotiate with the bank.

Adam - That is good to know that someone atually has had some approved short sales.  It seems everyone's problem with Saxon is that they are disorgainized and don't follow through.  Good job.

OMG !!! I can't believe all the horrible stories I have been reading tonite. I thought Countrywide was bad but this is crazy. I just got my approval for a short sale from Countyrwide and now I have to deal with Saxon for the 2nd mortgage. Countrywide is offering $3000 for the second to Saxon. My buyers and title co. are ready to close in 2 weeks and I hope that they accept the offer. If any one out there has good contacts with Saxon please let us know.Anyone dealing with Saxon for the 2nd? I will keep you all posted with the outcome of this.

Wow.  You had both horrible companies to deal with.  Good luck with that.  Keep everyone posted.

Alicia - I am dealing with Saxon on a 2nd mortgage and I am telling you they are hard to deal with. I received short sale approval from the 1st in record time but Saxon just caused us to postpone our closing date. All the horror stories you have heard about them are true!! They have recorded "missing documents" numerous times - even through the entire short sale package has been faxed to on three separate occasions. Every time you call (and I do at least 2x a week) you get a different story. Some of the reps appear helpful - some are down right rude. But no matter what they tell you or how "cooperative" they are, you cant seem to get assigned a workout negotiator much less a written approval.

Good luck with your sale - I will keep you posted on mine.

Hello. I am a home owner whose loan was sold to Saxxon Mortgage. I have an offer on my property and i owe a total of $310,000.00. First mortgage only. No second. I have had 2 offers fall out of Escrow due to the borrowers. My frustration with Saxon is my Loss mitigator is a jerk. She keeps throwing up road blocks on me. First the sale was a go and now she is saying in order for the sale to go through i have to get the house apprasied AGAIN. It was just done 3 months ago. Came in at $165,000. Also-I have to pay the utility bills or else the sale doesn't go through. That is $600.00 i don't have. I have been bending over backwards to work with them. I have no money and can't even pay the past utility bills. I feel like i am being taken for a ride, i want to tell her that she is cutting off her nose to spite her face by getting the re-appraisal. What if it comes in at $140,000? I asked for a Deed in Lieu and she told me it had to be listed for 3 months. I gave her all the info she asked for along with my first born and blood. I can't afford an attorney and i know i am getting the run around. My only option is to foreclose due to the roadblocks she is throwing up. I am stressing about it and just want it done. I want to call her and say just foreclose. How long does that affect me and how? Thank you for your time. Sincerely, Deanna

Deanna-

My clients ended up foreclosing because Saxon gave them the same type of treatment.  (They are doing fine after foreclosure) I really don't think Saxon cares since this company has been closed down.  Foreclosure hurts more in the beginning of the 10 years it is on your credit but becomes less important as time goes on.  It will not be the end of the world if it comes down to that.  You will survive the results of that as you have been surving this experience.  I am not an attorney and cannot give you legal advice.  I do know from my experience (I work at a law firm as a bky assistant) that you will be able to live your life pretty normal after foreclosure.  But at first, it is difficult for people to trust you with credit.  It doesnt' seem like from all of the comments on my blog that people have had a good experience with them.  It may not be worth the stress you are dealing with in fighting with them.  They did the same thing to me and my clients.  They said they were going to accept our offer and at the last minute  they foreclosured which I had that feeling due to the experience we were having with them all along.  They may try to make you make a payment which is a ploy to make you think they are going to help you but they won't. 

I can't beleive what I am reading, I have been dealing with Saxon since Jan 08, after Novastar sold my two loans to them. I stoped making payments becasue I could not affort to pay for the house, the house is empty and we have been paying the utilitites since July 07....in order to sell it. SAXON has lost our paperwork countless times, they have finally given our paperwork to a rep in the "workout group" call Charles Well his ext is 259295...just in case anybody needs it....I was able to get in touch with him once and he was very nice, even told me this would be over in three week at the most...such a lie....I think know he told me that just toa void confontation, he ask me to send some paperwork, which I did next day, today is been three weeks and we have not been able to contact him again, call after call, fax after fax....this is a short sale by the way.....I just don;t get it, unless like some people say they are making money from foreclosure somehow, my house has no insurance, no utlitites (since two months a go), we have made any payments or pay taxes for 07 or 08.....so what are they waiting for? I don not get it.....resolve....finish your jobs people....they do really suck!

By the way I forgot to mention that I spend about 30-40 minutes on hold every time I call (which is about three times a week) with their loss and mitigations department. I do think my house will be foreclosed after all..... I know foreclosure is not the end of the world (although it does affect your life somehow) I already have another property, so in that matter I am ok.....now i do have a few questions just in case someone could give me some advice: Can the city foreclose the property for back taxes? We have not pay 07 nor 08 so far....in that case....what happen to Saxon? and most importantly what happens to us? a foreclosure is a foreclosure whoever does it? what I am trying to get to is: other than  getting the home foreclosed is there any other concequeences we could face from not paying taxes/insurance etc on this home? thanks for any comments.

Molly - I am so glad I posted this blog because it gives us a chance to see how others are doing with them.  It doesnt' look good.    I spent hours on hold too.  Just to get nowhere with them. They are the worst company I have ever dealt with.  They stepped up to the plate to give everyone money but now they hide.

After reading everyone's comments I am having second thoughts about further asking for information on a home that I am interested in that is in their possession. It seems like they are putting people through a lot unnecessary crap.

Cherie- Good luck.  Don't get your hopes up and keep looking at other properties just in case.  You may get lucky and get that home.  Check to see if there is a second mortgage involved.  If not, better chance at it.

Oh boy..looking at everyones letters..I feel like everyone is talking about me!! We also have been trying to do a short sale with Saxon since Jan 2008.We have lost 5 good sales!! Also when I call the phone is either busy or it answers with a recording and then the phone goes dead. I did call 888-325-3502 and dialed ext

202171. That phone rings forever and then goes dead. If they are shut down,what happens next? We actually have someone who will pay cash for the house,but we can not get anyone to answer the phone.

Can anyone give me an idea as to what to do next. I really do not want a foreclosure on my record. I have

not rec'd any letters or correspondence about foreclosure,but we have not made any payments for 9

months. I should add..the house was sold through Nova Star but the loan was sold before closing..that buyerbacked out for what they explained to our realtors as health reasons. I wonder if the loan was lost like

evrything else in their office.

I just sent an E-mail to the Better Business Bureau after a 1 hour hold attempt tp speak with someone at Saxon... I ended up hanging up the phone on them because I had too many calls coming in. 

 I too have had an offer since January and ...... no luck as of yet .... The negotiator I was assigned to Quit 3 months before they told me he did.....No wonder I never had the chance to speak with him and he would never call me back.

I included this Blog in my Email to the BBB.....wish us all luck that someone is able to do something.

Vicki- That is horrible. I hope things get better for you on this.

Michael - Unbelievable how pathetic this company is in treating their clients.

Any update on on Saxon? I'm still having a horrible time getting in touch with someone who actually works there in order to get a short sale approved with a Sale date of July 11th. Any updates or help, contact numbers or techniques would be appreciated.

Thanks,

Jeff

Hey Saxon Mortgage just called! (response to my post on 6/23)

 They wanted a correct name on file for my client so they can handle this complaint I left with the BBB.

They would not comment yet , but I am impressed the first time in 6 months they actually made an attempt to contact me.

Give the old BBB a try it might work for you too. 

Michael

Jeff- I give up on Saxon.  I will not work with them on short sales anymore.

Michael - That is great that you got a response.  Too bad it is not for your short sale.  It was a call they had to make to protect their butts.

Wow these guys do stink!

My husband has a 8.,5 or more percent ARM and we are late going on three months.  We have five kids and just got behind this past year.

I'm trying to sell my horse and everything but they don't take Partial payments

We were never late before this year and we have this house for six years!

What the hell?  Why cant' people help you when you are in need?

I quit.  I guess it's time to move to a smaller less worrisome house.  Too bad for them cause they'll lose a lot of money.  They had two loans on our house.

Stella, I truly feel sorry for the homeowners that have posted to your blog.  It must be extremely frustrating.  Is there anything that anyone can do to get Saxon's attention?

My partner had a dealing with SAXON, it was not great and they were shady. I hope that these banks know how much better life could be if SHORT SALES were not so lengthy!

Ha!! By the time you have a good buyer, they just tap their fingers and hang out working on shorts that are about 14 days from sale. Short sales will be the death of me!

Kelli

Stephanie - It is not worth being house poor especially if you get no support from them during your hard time.

Leolinda - That is why I posted it hoping it may draw attention to them as well as help others during their negotiations with them. Not much luck in getting results.

Kelli - You are right.  It would be easier if they would just do them and move on but they don't from everyone's comments to my blog.

I have done many short sales and currently I am dealing with Saxon and it has by far been the worst thing ever!  The offer was made in early Feb.  The file has to this day been assigned to 3 different people in the work out department.  It has had 2 different apprasials done on it because they say that the first one was never done.  I told them that they already sent out an appraiser and she argued with me and said they didn't.  I told her yes they did because I personally met him out there myself!  They are sooo unorganized and scattered, full voice mails, no returns calls and their negotiators they are bringing in clearly have no experience and don't know what they are doing.  Sp now we are down to the wire and they have agreed to release and after all of my work they are trying to cut my commisson to 4%!  No way am I gonna do it for that amount!  She said I was told in the beginning that's what Saxon will pay.  I would have NEVER worked this to begin with if she had indeed told me that, besides she wasn't even initially the one assigned to the file.  They are liers and theives! I am fighting for my commission and we'll see where it goes.  I will never work with Saxon again!

Hi Dana, and Stella, (in reply to my post on 7/3 & 6/23)

I just got a negotiator the other day and she postponed the Foreclosure sale date (today was the day) and it was postpoened for 45 days. I had an offer of 126,000 long long ago in a market far far away.

 Anyways that buyer walked months ago ... I have a new one at below my list price of 118,000. They said the investor wants  133,000 which is BPO price. I said no way is that the BPO price..... There are 5 in the same neighborhood that are selling for 119,000 and below (I know those are not comps they are actives). However I said what will the investor get once these sell for $110,000 and $105,000..... I had to put the home at the price I did because that is the only way I could get traffic.

She said send me your comps and I will Submit for an appriasal review......I sent the 5 actives and 3 others that I could find that were below the 133,000 solds and I also stated that one of the actives was an REO that was bigger and better than the Subject. I also sent a small note saying "I hope your investor was not another victom of a BPO over priced so that agent will get the listing when it forecloses and costs the investor more money".

She just called and said that they will consider the new offer and the appraisal has been lowered (BPO was Done June 9th) hello.... is that backwards or what.

They want me to go from 6% to 5%.... I said no! Firm.... she said we only pay 5% and I am not going to work that hard if you do not cooperate.... I said you already have time in on this file you'll lose your bonus..... just submit it to the investor tell him I will not cooperate and that he can pay us Realtors the extra 1% that the seller agreed to pay us in the listing agreement. She said send it over.

I will keep you posted........ Stand firm Everyone ..... do not let them push....... once they have an inventory of REO's they will fold and say uncle. Also Send the Better Business Bureaue their way.

I got another letter saying that Saxon did not respond back to the BBB. Enough complaints they will get their act together.

 Michael

Well Im glad Im not alone.  I have been working to short dale my property in massachusetts have a buyer already approved/ they have lost my file/ switched to another loss mitigation expert/ closed the file/ I have faxed file to 7 different people and they claim one day its there next day its gone.  PLEASE HELP!!    akcordero@gmil.com

Dana - I will never do one with them either.

Mike - I can't believe you actually stopped the foreclosure.  Double check that because they foreclosed on my listing without even sending notice.

Paz - That is horrible.  I wish there is something I could do.

Yes, if you are not able to contact them and extablish communication they will foreclose ... It is very important that the client keeps you informed of all notices as well. I simply asked her since I finally was able to talk with someone that we should postpone the foreclosure....most banks will not let you postpone until you are within 5 days of the sale date.

I hope this helps.

Just an update. Saxon ended up postponing the foreclosure date has agreed on the short sale and to release the lein. However, there isn't any language about releasing the homeowner from the note. Has anyone actually completed a shortsale (we're closing on Thursday) with them and gotten them to issue the 1099 or put language in there saying they wouldn't pursue the deficiency judgement?