LOS ANGELES (AP) - A California homeowner is suing the mortgage servicing unit of Morgan Stanley, claiming the company had no intention of permanently modifying her home loan payments to an affordable amount despite having her make a slew of trial payments under a federal program designed to help homeowners avoid foreclosure.
The complaint, which was filed Thursday in U.S. District Court for the Northern District of California, accuses Saxon Mortgage Services Inc. of breach of contract and deceptive debt collection, among other claims, and seeks class-action status.
In the lawsuit, Marie Gaudin of Daly City contends Saxon offered her a loan modification trial plan under the Home Affordable Modification Program on June 1, 2009.
The plan called for Gaudin to make three trial payments on her mortgage and provide any documents needed by Saxon to evaluate the proposed loan modification.
Gaudin claims she made all the payments and complied with the documentation requests, but wasn't offered a permanent HAMP loan modification once the three-month trial plan period ended.
Instead, Gaudin asserts, Saxon dragged out the process for months, while asking her to continue making payments.
Ultimately, the company denied Gaudin's permanent loan modification, saying she failed to make payments.
A Saxon spokeswoman said the company was reviewing the lawsuit and had no immediate comment.
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