Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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I'm very discouraged to read all the messages on Saxon Mortgage.  Our loan was transferred to Saxon Mortgage in February, 2008.  Due to some financial problems, our house payment became too much for us to handle.  We filed Loan Modification papers in September and were also instructed not be pay payments until a decision could be made.  Well, we were declined... we're making too little income???  I asked to speak with anyone who could explain what criteria they looked at and how much more money would we need to make in order to be approved.  Their only answer was that we should try to sell the property or they would foreclose on us. 
At this time, we just want to try and find something to rent and mail them back the keys.  One person I spoke to at Saxon said they would sent us a Deed-in-Lieu application.  My questions are - what if we don't get approved for a DIL?  If the foreclosure process begins, what are we responsible for?  Aside from keeping insurance on the property, what else are we responsible for at this time?  How exactly does the foreclosure process work?  What if Saxon can't sell the house?
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Try to look into "Deed in lue of foreclosure". Its like a parachute for a home owner that's in trouble. There are still consequences but, its a way out that leaves them with the financial burden of your loan.

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