Where is my payment to Saxon Mortgage really going?

BL in Kentucky said: “Saxon mortgage is ripping us off. We have been on all the web sites and we are being done the same way. Saxon is saying we are 4 payments behind, and every month I pay $50.00 to $100 extra. Saxon put part of our payments into a holding account and can’t give us a reason why.

I sent bank statements of all of our transactions and Saxon still says we owe this.

We have paid $7800.00 since 8/08 and our balance has went down $25.00 and they keep applying late fees and every other fee they can think of, and say were $4000.00 behind, but yet no one can tell me whats going on. Please help”

2 thoughts on “Where is my payment to Saxon Mortgage really going?

  1. Saxon has felt it has the right to place your payments ANYWHERE they want. Saxon/Morgan Stanley (servicer) will bolster fees anywhere in order to make a profit. The servicer makes little money on loans and makes more money if they fee your loan to death.

    1. Find an attorney fast that KNOWS and is willing to litigate against Saxon/Morgan Stanley. Try Personal Injury attorneys!
    2. Make a written request for your account history and payments, so you know how they are or have been applied. I did and the way they do it is illegal and usurious.
    3. Document every phone call and record each call if you can. Its ok for you to know you are recording the calls. One person of the two party phone call must know the call is being recorded. Prior to Saxon answering state the date and time, when the phone call ends state date and time.

    I have of 80 phones calls made and 4 hours of talk time. I knew a long time ago that Saxon was dirty and started last year when they started the shinanigans.

    I even have it documented that they have refused payments from me.

    With your brave help and strength you can help put an end to Saxons/Morgan Stanley crooked illegal practices.

  2. We are having the same problem with Saxon. They cashed all of our checks and have refused to credit them to our account. They filed foreclosure on us. Even after sending them proof (cancelled checks, bank statements) they won’t fix the problem. We hired an attorney to help. He couldn’t get anywhere with Saxon either. Our next step was taking them to court, but we don’t have the $20,000+ dollars he needs to go to court. I have filed complaints with the FTC, FBI and am in the process of filing them with Texas Attorney General (512) 463 2100 and Department of Savings & Mortgage Lending in Texas (877) 276 5550. Saxon has stolen our money and now they are trying to steal our house. How can this company be allowed to participate in these unfair/illegal business practices?

Comments are closed.