Saxon says mortgage must be in default

Lisa in New Jersey said: “I too have had problems with Saxon. I started the mortgage modification in Oct 08. I was told to be in default to qualify. Being 10 months out of bankruptcy, I was hesitant, but needed the help. I finally got paperwork after a lawyer contacted them 1st payment due 4/1/09. Too long to write in this box the horror I went thru w/ no return calls, promises of paperwork, and ruined (more) credit. Class action suit, I’m in!”

Editor’s Note: Guidelines for new federal modifications now state that homeowners must not be in default.