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Home Loan Modification by Saxon Mortgage Services Tops the List

Posted on | December 2, 2009 | 2 Comments

We have recently learned that Saxon Mortgage Services has done the best with the home loan modification process.  The Making Home Affordable plan has been very hard for many lenders to put to use as it takes a great amount of documentation from the lender as well as the borrow.  Unfortunately many borrowers do not understand the paperwork they need to submit therefore very few home loans are getting permanently modified.

Over 44% of home loans that qualify for loan modification are currently in the trial period with Saxon Mortgage Services.  This tops the list with CitiMortgage coming in a close second at 40%.  One of the biggest laggards when it comes to loan modification is Bank of America who only has 14% of qualifying loans in the trial period of a modification.

If you are struggling to make ends meet financially and you cannot make your monthly mortgage payment then there is a good chance that you could benefit from a home loan modification.  Please understand that this is not an easy process and it is going to take a great amount of time and paperwork to complete.  Even with this being the case it is still well worth it if you can avoid foreclosure and save your home.

If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail.  The blog is an account of the journey to find peace of mind and happiness in today’s society.

Author: Alan Lake

Category: Home Loan Modification

Comments

2 Responses to “Home Loan Modification by Saxon Mortgage Services Tops the List”

  1. Darius Wells
    December 2nd, 2009 @ 5:05 pm

    I used to work for saxon loss miti department and it was a joke.

  2. Larry Burklow
    December 3rd, 2009 @ 8:27 am

    Bank of America is the worst. They drag their feet on loan mods, and short sales. It’s like they want to lose money on properties instead of working towards a resolution.

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