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Saxon Mortgage Principal Reduction

Mark Cappel
UpdatedAug 3, 2010
Key Takeaways:
  • Put together a household budget and balance sheet.
  • More than 1,000 people work for Saxon Mortgage Services.
  • Saxon offers forbearance, loan modifications, and debt forgiveness.

How do I start a principal reduction with Saxon Mortgage Services?

We have a mortgage with Saxon and would like to get on the program with the principal reduction program? What to do?

Saxon Mortgage Services traces its inception to 1960, and was acquired by Morgan Stanley in December, 2006. The company claims to employ 1,000 people. According to the Saxon Mortgage Services Home Preservation Web page, the company participates in the the HOPE NOW Alliance, which is a voluntary collection of mortgage servicers and HUD, which are motivated to help homeowners prevent foreclosure.

Saxon Mortgage Services claims to offer repayment and forbearance plan, loan modifications, short sales, debt forgiveness, and deeds in lieu of foreclosure. The company states it is participating in the Home Affordable Modification Program.

Saxon Mortgage Services states customers seeking a loan modification should call the company at (888) 325-3502.

Be prepared to complete forms that include your income and expenses. Therefore, now is a good time to put together a household budget and balance sheet if you have not done so already.

I hope this information helps you Find. Learn & Save.




qqueen, Aug, 2011
I have been trying to work out something with my mortgage company for 6 months. I am now 4 months in arrears. I send what I can each month but in Feb my husband left took the only car we had and I had to purchase A new car in Feb which took most of the personal savings I had. I was denied for HAMP and now I'm trying an in house modification. I am in fear of losing my home. I want to keep my home does anyone have any help for me.
BBill, Aug, 2011
Have you spoken with Hope Now? Their number is 888-995-4673.
AAndrew Holiday, Aug, 2010
There are more options available today for distressed homeowners than ever before.Regrettably as the economy gets worse the solutions for homeowners get better. Determining what is realistic for your situation is your first step. You may qualify for one of the options available and still keep your home.