Will Saxon Mortgage foreclose during my trial modification period?

AH in Pennsylvania said: “I became a customer of Saxon over 5 years ago now. Not one late payment for almost 4 of those years. In fact, I had never even called them until 2 January’s ago when I became ill and had to take a short unpaid leave from work. Due to this time off for illness I was going to be close to two weeks late on my mortgage. I called to see if there was something Saxon could do.

I was continually told I was not “late” and that there was nothing they could do. Almost a year later, I was told by a representative if I would let my payment go past 30 days they would be able to help me. Scared, but desperate I did this and then PRESTO, assistance.

I was put on a repayment plan for 6 months. It increased my payment by close to $200 per month. I diligently paid on this plan.

In March of 2009 I was laid off due to staff reduction at work. I continued to make the higher payment through May of this year and then called to see if there was something Saxon could do for me. I actually just wanted to see if I could be approximately 5 days late on the higher payment.

When I called I spoke with a nice representative who said they had a program in place that was even better! He took a bunch of information over the phone and said a time sensitive packet would follow shortly. The packet arrived and I submitted my documents within the allotted time frame.

There were a few times in the first 3 months that I was told that information was missing or additional information was needed. This did not seem odd until I was outside of the initial 3 months. You start to feel like you want to complain, but you don’t know who to complain to and when you do call to complain you feel as if it falls on deaf ears.

Similarly to all the accounts on this site I have developed stress related health issues from this experience.

I have been in this limbo now for close to 7 months. I have sent multiple copies of requested paperwork. I have made every payment on time under the trial period and beyond. I have called almost daily to check on the status of my account. I have felt the the run around! I am grateful for this site and it’s collection of complaints and advice!”

One thought on “Will Saxon Mortgage foreclose during my trial modification period?

  1. AH: All I can say is … keep an eye on your local sheriff sales. Make sure your home does not sell. The only good news if they do sell is this… given you are a part of a trial period, they cannot sell unless you haven’t lived up to your end of the bargain. One, the sale will be recinded and two, SUE THEM. If you are able to sue them — go for it. They have messed up so much they deserve to be sued hard. If they sell while you’re in the trial, sue them.

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