News video shows Saxon confused and under-staffed

A few weeks ago Saxon Mortgage issued a press release bragging about the fact that they were “Hiring up to thirty people.” Clearly about 3000 people is what it takes to help Saxon. This news video clearly shows how Saxon does not know what they are doing:

Remember, on April 15, 2009, the Obama administration has selected the first six companies to participate in a $50 billion program designed to help millions of struggling homeowners avoid foreclosure. Saxon is one of the six!

Highlights of “Mortgage Modification Can Be Costly”:

[Jerry Kanowski/Fighting Foreclosure] “We’re told initially it would be 3-5 days and it went from 5-7, 7-10 days, it just kept going on and on.”

Months passed while the Kanowski’s waited for the company to send them the loan paperwork.
They say they called Saxon repeatedly, and even kept this log of all the calls they made.

[Peggy Kanowski/Fighting Foreclosure] “Just numerous phone calls upon phone calls trying to get information, roughly over a hundred, we call every other day.”

The Kanowski’s panicked because they say Saxon told them to stop making payments on their home until the loan modification was in place. They did what they were told – but they were terrified they would lose their home.

[Jerry Kanowski/Fighting Foreclosure] “You can’t sleep. Everything is about this.”

Finally the Kanowski’s got this letter from Saxon, that says, quote: “We are pleased to inform you that you have been approved for a loan modification.”

Days later another letter came, saying “foreclosure proceedings” had begun on their home.
Ironically, this same letter says the couple could apply for a mortgage modification to save their home–the very thing that landed them in foreclosure.

[Rod Dunlap/Real Estate Attorney] “Sometimes the right hand doesn’t know what the left hand is doing in the mortgage situation.”

One thought on “News video shows Saxon confused and under-staffed

  1. Saxon refused to modify because they thought I made to much, erorr on their part I rebubmitted everthing by fax 3 times & once by overnight mail. I was told to send things again, I did now they are saying I don’t make enough. Things happened when I was on a repayment plan, 3nd one was due when my area hit by the hurricane “IKE” in 2008. No power, banks all business closed in our area for over 2 weeks.

    Called Saxon(limited cell service) and told of situation, they said get it in ASAP. I called in when banks open, cash in hand to say I was wiring my $2,000+ repayment to them (normal payment was less than $1000, due to high interest rate) they told me the refused to accept a payment as it was late. However they said they would put me on another repayment plan. All I had to do was give them $3,200 for first payment, and $2,900 for next several months.

    I told them I do not have that much money and could they hurry and do the modification, they said no one was assigned yet, it was supposed to be modified per original documents at closing, date of modification was 10/2008. They said they did not care what the reason was that I was late on the payment and Saxon has their own rules. Now it is in foreclosure, set to foreclose first of July. I have owned the home since 1998. I am sick, can’t sleep, can’t concentrate on anything at all exept this.

    Any one in same position. I am contacting the white house, have contacted my congressman, the governor of Texas, news stations. The govenor’s office just sent me to different web sites. Maybe if everyone flooded the White House with their stories about Saxon we may get someone to listen.

    All they have to do is type in Saxon Mtg in a search site good luck to you all. There must be hundreds of people that do not even do internet so no colplaints from them…AWFUL CO SAXON< THEY LIE AND DON’T CARE!!!

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