Saxon Mortgage fails to tell homeowner of no foreclosure

TM, nolocation given, said: “My Husband and I purchased our home in 06′ he had a stroke in ’08 and we fell behind in payments. I requested a modification in June of last year. We submitted all the necessary documents, then waited and waited.

Everytime I called, I would get a different person, and different advice. Finally in September of last year, we got a letter from Saxon Mortgage denying our modification, soon afterwards, foreclosure proceedings were started.

Our Sale date was the first Tuesday in November. It even ran in our local newspaper as it was supposed to. My husband and I moved out of the house prior to the sale date, after being told there was nothing else we could do to save the house, or prevent foreclosure on our credit such as a quick sale, or deed in lieu.

The 2nd week in November, we received a call from Saxon telling us that we were “approved” for the modification, and that a delay had been put on the sale date back in October, and the house did not go into foreclosure, but NO ONE contacted us.

We found ourselves bound to a contract on the house we had just rented, plus the down payment we used could have gone towards the down payment that Saxon was now requesting in order for us to stay in the house.

So, now we’re in a situation where if we break the contract we just signed, we can be sued, and we don’t have the $4,000.00 that Saxon Mortgage is asking for to move back in the house.

We’re trying to get an investor to buy it, which is not going well since the market is still down and the house needs work. This entire experience with Saxon Mortgage has been nothing short of a nightmare, and has caused us more money, and heart ache.”

One thought on “Saxon Mortgage fails to tell homeowner of no foreclosure

  1. I am in a similar situation with Saxon. I lost my job about 3 yrs ago, Employer fought UC and lost but it took about 2-3 months to get any money out of it, Finally found a new job, a few months later my wife loses hers.

    She found a new job, my job has a massive 8 month layoff. In the meantime, We contact saxon to see if there was any help they could give us. The said we could file for modification. We did all that they told us to do,and waited. when we called because we had not heard from them,they told us that the modification had been closed because they did not receive the information. we have since sent the information countless times only to hear that they didn’t receive it.

    Found out they gave us a phony fax no. to send it to. They also sent Titanium solutions to my house, which is their partnered company for doing modifications, never got that info either. Also, they raised my payment by almost 300 dollars a month, 120 of it admittedly overcharged. they dont know where the 120 dollars a month went.

    Saxon needs to be put out of buisness, before they bankrupt every client thy have. I have contacted the FTC,and FBI fraud about this, but am still waiting to hear. Good luck all.

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