Do the math on Saxon Mortgage HAMP modifications

In June of 09, I qualified for Saxon’s HAMP program. My monthly payment before this was $1400. My payment after qualifying was $941. I paid every payment on time during their trial period which lasted 11 months! How is that right? I had people showing up at my house every 2 months claiming they were sent by Saxon. They took pictures of my house. I came home from work one day to find one taking pictures through my Patio door into my house.

Every time I called Saxon on this I was told “they are not with our Company”. Finally I had had enough and cornered one of them and asked what they hell they were doing. I was told that his Company had been hired by Saxon to check on the condition of the property and make sure it was inhabited then he asked me “Can I come in and take some pictures?” Of course I told him right where to go and called the police.

The police showed up and sure enough he produced documentation from Saxon stating he was to get pictures of the property. The police asked if I wanted the man on my property and I told him no, he took pictures from the street when we were home and my neighbors reported that the same guy showed up when we were at work and took pictures through our windows! Our blinds were shut for months!

Every month I paid my trail payment of $941 I asked Saxon when my paperwork would be sent and what would my monthly payment be? They would tell me some lie about it was in processing, or I was missing paperwork. I had faxed, re faxed, sent overnight, and UPS my paperwork an ungodly amount of times. They didn’t finally admit to having my paperwork until I faxed ALL of the confirmations to them. They were holding off until after February when new laws went into affect.

For every loan Saxon Mortgage modifiesy under the HAMP program Saxon receives $1000 from the GOVERNMENT, and if you make you modified payments on time for a year they receive another $1000 from guess who – the GOVERNMENT.

I finally received my paperwork for my HAMP mod om 5/14/10 and do you know how much Saxon helped me? They saved me $50.

My payment was reduced by $50. The rate is 7.99 percent. After almost a year of torture, placing calls every week, promises that my monthly payment would be that much more from my trial payment. I have a $1350 monthly payment on a house I can’t even sell and it’s not even worth $90,000!

When I called them, you know the first thing the Saxon person said to me, “I’m sorry ma’am I know that this payment isn’t going to be affordable to you but I suggest you sign the paperwork anyway and try to pay it” when I asked him how was I going to pay it he asked if I had anything valuable that I could sell, cars, jewelery.

I am supposed to sell everything I own, not eat, and not pay any of my other bills to afford this payment. I told him I can’t, I won’t. I also asked if there was any other programs, an in-house modification that I could do. “No ma’am I’m sorry, your income is too low”

They know that people can not make these payments. Yet they still get paid to do the HAMP mods. It is horrible what they are putting people through. They shouldn’t be allowed to do this.

Millions of people applied and qualified for this HAMP program with Saxon. They get a $1000 for each one! Do the math, they don’t care if the houses foreclose. They just don’t care. I love my home, it was suppose to be where I would raise my family and grow old, MY American Dream, now it’s my nightmare.

I will more than likely lose my home but I am determined not to lose it to Saxon, I would rather have the town foreclose on it for a $64 sewer bill then see it go to those crooks at Saxon Mortgage and Morgan Stanley.