Saxon Mortgage collects flood insurance incorrectly

CB in Florida asks: “Saxon mortgage services has flatly refused to adjust my escrow reserve requirements despite the fact that it reflects amounts for which I do not owe. Namely, it currently collects $400 monthly for flood insurance although this cost is covered by my condo association.

I have faxed them documentation which verifies this fact, yet they refuse to adjust for these amounts. Frustrated and angry, I have refused to pay for these amounts and they began to call me numerous times daily demanding payment and threating foreclosure. Due to this increase in my monthly mortgage expense, I have fallen behind in my mortgage payments causing my to apply for modification.

I have been denied without cause. I want to stay in my home but feel that I may forced to just give up. My mortgage was acquired my Saxon. Is there anything I can do? “

One thought on “Saxon Mortgage collects flood insurance incorrectly

  1. Yes, yes, and I agree to all thats mention about Saxon Morgage. I have experiences all the above on the complaints listed and SOME… I am just appauled that this company is allowed to continue to do business.. Now, that I am in foreclosure because Saxon refused to process the modification or correct the payments they received, not to mention the forceplace Insurance and Escrow account… WOW, the insurance cost is jut hurinduse, for one year 8,000 who in their right mind can afford. I dont think this site have enought space for me to list the frustration and agony I been throught with Saxon. I hope the Attorney I retained get to the bottom of this matter quich.

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