NovaStar sold some of their mortgages to Saxon Mortgage last month, raising some doubts about NovaStar. The lender had a propensity to call home owners before their payments were due. As the troubled lender saw bankruptcy approaching they would call homeowners more than once a day. NovaStar Financial Inc. shares fell as much as 63 per cent on November 15th after the troubled subprime mortgage lender posted a $598 million (U.S.) third-quarter loss and said bankruptcy is possible. Will anybody miss them, or the intrusion on one’s privacy?

If lenders want to know if they will be in business next month at least act like professionals and don’t call the homeowner to find the answer to the question. Are other lenders calling before the monthly payment is due, just to see if the homeowners plans to pay? If you have experienced the problem please comment on this article.