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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If anyone else has had a similar situation I'd like to know.  We have a rental property that is financed through Saxon.  Due to the market we've tried to sell, rent, whatever...with no luck.  Our reator suggested a short sale, which we did.  We have submitted the short sale several times to Saxon but they won't address it.  Every time we call them they say they are extremely behind.  Yet they continually ding our credit.  I just don't understand why they don't just process it and we all can be done with it.  Has anyone else had a situation like this?!   It is crazy that this has been going on for almost a year now!

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Ohio

Other than dinging your credit are they racking up on fees during this delay? If it were me I'd sue for the credit damage that has occured. If they are not willing to mitigate their damages by getting on the ball then why should you have be held hostage by their incompetency?? I'd find some cause of action and I'd sue their asses. Tie the property up in court for a few years and see how they like it. If they are making money from the delay sue for unjust enrichment, credit damage, unearned fees and anything else you can hit them with.

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I think you are stuck.  Your note (contract) does not have a provision that says they are obligated to accept a short sale, much less within a reasonable time.  It is unlikely that you have a cause of action that would survive an early dismissal or summary judgment.  The sad fact is, they are within their rights to report the late(s), assuming of course you are in default of the terms of the note.

 

If you can find some thread of misconduct on the servicer’s part, then write QWR’s and write them often.  As far as the short sale is concerned – they most likely are swamped.  To maybe move your file closer to the top of the pile start writing letters and send them, just like the QWR’s, via certified mail, return receipt requested.

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