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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Hello there..

I got a great situation my hands..i will try to make this short!.

I have the horrific 80/20 loan everyone talks about..Interest only, goes variable in 2 years..10% interenst all that crap!..yes im stupid..

Fast forward..

Jan 07--I was in my first full year of home ownership..there was still a lot of surprises around each corner..

I owed property taxes and did not pay... I did not realize that Saxon had gone and paid my property taxes and then rolled it into an escrow account and into my monthly payments. I am going along, payint my normal monthly payment and all the while they are taking my 2500 bux..paying my 20% loan 3 MONTHS IN ADVANCE and letting my big loan go delinquent.. they have 3 phone numbers they could have dialed and all would have been paid no problem..By the time my taxes were late, i just landed a new job and was able to get my bills paid with no worries...BUT..I am a dummy and did not realize what saxon did to "HELP ME",...So anyway..Im going along making my 2500 dollar payments and all th while my big loan is going unpaid month after mont. I finally am reaching the 2 year mark where i need to re-fi to get better loans going..My loan crook...errr..agent looks up my numbers after confirming i have never missed a payment..he looks up my numbers...My credit score is 425 points and my house is about to be foreclosed!..I call Saxon and withing 2 business days, and pay them 13,000 dollars to fix this phone a courtesy call..

Now I try to get them to help me..

Now my credit score is 425, I pay them all the cash owed in 2 days AFTER CALLING THEM and finding this out.

I ask if i can get someone to put my credit score back or pull back the bad reports to credit buereaus so i can get my refi back on calls did not help..I sent 2 letters to the escalation dept. DENIED..I told them I made mistakes.I did not blame them although i did point out that a dam phone call WOULD HAVE BEEN NICE!!!... So here i am...425 credit..denied letters to get is going to variable interest in a month..all i could do was to pay and see what unfolds..Sure house payment goes up 700 dollars a month and I pay it??? They want it?..They can have it!!! Since my credit is loan is a loan company calls me 15 times a month because of some STUPID system they have that does not see my money until a stupid agent gets on the phone, tells me I owe 5,000 dollars, and then sees i made my payment on time "but it is in a section of our payment process and we have to tranfer the funds yadda yadd yada..."..NO LIE..I would get 15 calls a month!!!..and i was paying on time! I would get 3 calls in one day in some cases..SO..I paid it until July of '07 and then i finally say..SCREW IT!!! Why should I??? Im gonna do what everyone else is doind and LEAVE!!! My credit is loan is and will be upside down for as long as my credit would be bad as a result if i walk..And how much worse could it get than 425 anyway?..So i stopped..

NOW It looks like i may have some power to renegotiate my loan and keep my house..I have a job and can pay my bills but It is up to THEM at this point..They can either fix my loan and eat 80k of my pricipal or THEY CAN HAVE IT BACK!!!

It was almost like they WANTED my house..It was almost as if they were waiting for me to blow it just so they could take it...Now of course they dont want it!! HA!..but guess what?? Neither do I for this price!!

Fix My loan or enjoy owning another house!

Any advice or place I can turn to? I am told the places that charge I should watch out for..One place i am talking to uses a lawyer but they want 2400 dollars and they say they will give it back if i do not get helped by them..But i dont mind paying for something that would give me the best new loan etc..

Im at a loss as to what to do but i do know that i will pack up if saxon is not willing to fix this god awful mess!

Thank you all!!!

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4 justice now

I don't believe you're stupid at all... You just got screwed as did millions of other hard working citizens.

I wish you the best of luck.


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You might get some negotiating leverage. 

You sound like the best paying borrower they ever found. 

If you can reconcile yourself to believe this is the same scam that is pulled
on borrower after borrower.  You just had more cash than many of them.

If you are curious just how much money they scammed from you.

Based on the principal and intererest of this loan, go to the internet
and find a mortization schedule or a mortgage calculator.

You plug in your dates and numbers

The schedule will tell you how much you should receive credit to principal
and interest for your payments to date.

It will also show what your balances should be.

You can plug in taxes and insurance outside these payments.  Run two
copies.  One to write on and one to use for court evidence.

This is a fee driven industry.  They are unhappy when all you have to pay
is the agreed upon principal and interest and look for ways to charge you
fees, even resorting assessments that you do not owe and they will not
correct when pointed out.

you'll see the difference in what you see on the mortgage calculator and what they are trying to pass off as your principal and interest payments
and principal and interest balances.


Don't show them your hand.  They will want to keep you paying these large
payments that you get no credit against principal and interest.

As long as you have money and are ready to hand it over, they'll take it
and put you right back into mortgage hell sometimes as little as 60 days later.

When you have no more money, that's when they will foreclose. 

So do what you think is best.

If you have anymore questions after looking at the scheduled payments
you just might want to fight.

You are going to need a lawyer.  I would suggest one with either choice you have.

They gave already ruined your credit, so you might want to look for lawyer
to look for violations.  FCRA

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