SM, no location given, said: “Saxon Mortgage is the worst kind of slimy. After months of trying to work on a loan modification, resending financial documentation, waiting, resending, they announced a week before the foreclosure date they needed more time for their “investor” to decide on a modification. I had two bad years, and my income suffered greatly. However, my income rose to over $80,000 in 2009.
I thought Saxon Mortgage would work with me. The offer came in, they would not reduce my rate, but they would offer a loan modification. More waiting. Getting close to the sale date with no offer, i threaten bankruptcy. They extend the sale date by a month.
I have other debts, but am up to date on EVERYTHING at this point. Every other creditor has worked with me to help get me up to date. They see my income has improved to the point where I can pay all debts on time.
Saxon finally comes back to me with an offer! Less than one week before the final sale date, they make their offer; pay $15,000, increase my payment by $550 a month. Some deal. They knew I didnt have $15,000, since I had been sending them my financials, over and over, for the last 4 months.
Saxon Mortgage only wants one thing, to get you out of the house so they can get out of any loan they have with you. They give you as little time as possible, so you cant react, and hopefully can foreclose on you. I had exactly two business days to come up with the $15,000, or they promised foreclosure.
They have no interest in helping you. Now, making almost $90,000 a year, I had to file Chapter 13 in order to save my home. Please let everyone know that Saxon is a shark, and will do everything they can to make sure they can foreclose on you to get you out of your house. It is all about the money for Saxon.”