Saxon Mortgage modification request bungled

SL in Florida said: “I have never missed a payment to Saxon Mortgage, never paid late, not once, since June 2006. While families in the 5 houses surrounding me lived in their homes for 10 to 12 months without making a house payment, then let the houses go into foreclosure, I continued to pay, and when the variable rate kicked in, I asked for loan modification. Saxon said yes.

Over the past 14 months I have submitted paperwork, been told everything was complete, then been called and told it was not complete, submitted everything again, and been told that everything is complete and that underwriting takes time, and ….again and again and again. I have teller #’s, dates, records of conversations, copies of papers submitted, yet I am powerless. 14 months.

This last time, I was told that the file was complete and went to underwriting on 11/07/09, would take about 30 days. I called and called, repeatedly told, “We are backed up, everything is complete.” Today I received a letter that the file is not complete.

I called in, was told they did not have my bank records. I said I have copies that I faxed to you with the fax confirmation and a teller name and ID number who confirmed their receipt. They hung up on me.

Why don’t I just send them again? I DID THAT! THREE TIMES! If I keep doing that Saxon Mortgage will just keep saying that they have them only to later say they don’t have them. I KNOW – I HAVE DONE IT FOR 14 MONTHS!
This is how they treat people who PAY their mortgage! I can’t imagine if I were delinquent on payments!

Frankly, this is emotional abuse, the nerve to think they can repeatedly lie to consumers and mismanage paperwork to avoid giving us loan modifications, something has to be done.

I tried writing to my congressman, senator; they all say that loan modification is not mandatory.

Decency, honesty, ethics, civility, humanity, and just plain basic “doing good business” are not mandatory. Come to think of it I can’t imagine what made me think politicians would help! This is hopelessly corrupt. The powerful companies are out of control, with no conscious or consideration for the consumer whatsoever.

You know what? I used to think those families that lived for free, gutted the houses, sold everything, and went and bought BETTER houses at half the price in relatives’ names were wrong.
Now I see who is wrong: ME.

Mortgage companies like SAXON deserve that, if not worse.

Why isn’t there a class action law suit? There is so much consumer abuse going on and there is NOTHING consumers can do??
Sad. Very, very sad.”

3 thoughts on “Saxon Mortgage modification request bungled

  1. Saxon Mortgage Services had been jerking us around for the past year on this loan modification. I’ve fallen behind on my payments, two months max, due to an illness in 2006. In August 2008, we applied for their HAMP (Make Home Affordable Program – supposedly an Obama sponsored program). At first, Saxon denied us since we were not making enought money. We were advised to rent out one of our rooms (property is in Texas) to a boarder. We then submitted new financial info, Saxon determined that we were making TOO MUCH MONEY, therefore we are not qualified for the HAMP program. Now we were told to apply for their in-house Loan Modification Program, we’ve submitted financial info for the NTH time. We were told in December in a letter that we did NOT qualify for their in-house loan modification program. The only thing going for us is that we put in a hefty down payment upon purchase of our dreamhouse, so there is no NEGATIVE EQUITY. Now, we are instructed to apply again for the HAMP program. We do not want Saxon to take our property. No one calls you from their offices. Operators say they can not instruct negotiators to call customers. They are often rude and just want you to pay your delinquent account when you call them. Otherwise, you are up the creek for help or assistance.

    We are now working with one of Obama’s non-profit orgs named avenuecdc.org … and hoping that Saxon would ” help or assist us in any way” as they BOLDLY STATE in their generic letters.

    ARE WE THE ONLY COUPLE IN THIS SITUATION ???

  2. I feel your pain. Saxon runs business like the mob does business. Yet there is some type of hope even if your not directly benefiting. File a complaint with the Federal Trade Commission. http://www.FTC.gov Just as Saxon puts a black mark on your credit report, we as consumers can Mark them through FTC complaints. If the FTC gets multiple complaints about the same company, it leads them to investigate for any wrong doing and thus, marked for possible violations in law, etc. So take the time to report Saxon to the FTC.gov and hope they get enough to start looking at their business practices.

  3. Thanks, Ms. Tammy B,

    I have filed a complaint on the FTC website. I will file a complaint for every month of non-action from Saxon Mortgage Services. I hope all these consumers do the same thing so an investigation can be launched against these white collar thieves. No one else will fight for my wife and me since we are working hard for every penny that we can earn so as not to lose our house to foreclosure.

    Again, many thanks.

    God bless !!!

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