John in California said: “I have been trying to refi/modify my loan with Saxon since 12/06. My loan like all is upside down. Tried to refi before it adjusted in 1/07, got turned down. Payment doubled. Have been paying 8.5-11.5% interest rates since. Stopped making payments in 2/07, thinking I could get it modified, got turned down in June ’07, filed Ch 13 BK in 8/07 and did a lien strip in march ’08, so only have 1 loan now but interest rate is killing me and putting me in a bind.
For the whole year of ’08, was turned down 2 times again for modification saying I didn’t make enough money, though my interest rate was so high and I am making all the payments on everything. Go figure. Filed another request in the winter of ’09 and was told the Obama plan would be used starting in April, but they modified it in May lowering my payment $100 which is a complete slap in the face.
The mortgage adjusted down almost $400 7/1/09, why would I sign that and on top of it they were charging me a ton of illegal fees including their attorney fees after my BK was filed. I paid over $40K in mortgage payments to them and they only gave me credit for $20K on my 1098 with no reduction in principle.
Have been going to court every month since 12/08 because they claimed I didn’t make my payments and after sending them all my bank statements to verify this they finally backed off from trying to foreclose. Saxon is the most disorganized company I have ever had to deal with including unethical to the point of stripping your dignity because they are so stupid. God Help me.”