• Report: #507100

Complaint Review: Saxon Mortgage Company

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Fri, October 09, 2009
  • Updated: Fri, October 09, 2009

  • Reported By: Randalynn — yucaipa California USA
Saxon Mortgage Company
P.O. Box 161489 Ft. Worth, California United States of America

Saxon Mortgage Company Mathmatical mistake in loan modification is forcing foreclosure Ft. Worth, California

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

To keep this short and sweet as possible. I have been in the modification process for 1 year now woth Saxon mortage. They sent me a modification agreement 6 months ago and I agreed to it. I signed it and gave them their requested good faith payment in the amount of $5000.00. I received my first statement with the incorrect amount to be paid on it. $1000.00 more then the negotiated amount.

After the confusion was all sorted out, it turned out to be what I thought was a SIMPLE error. The first page of the modification showed the correct information and the second page showed the INcorrect information. The numbers were simply transfered over wrong.

Bad math as you could say. It took the company I hired to do the modification months to get anybody at saxon to comprehend this. They finally acknowledged their mistake. I am not a skilled underwriter, I am not a math major, nor am I in the banking/loan business. The one thing I do have is, COMMON SENSE, something the people at Saxon Mortgage DO NOT HAVE!!!

I was told by saxon, that they could not just go FIX the mistake. It was already, as they call, BOOKED in the system and they cannot modify a modification. I was told that I had to re-apply for a modification all over again and that my good faith payment of $5000.00 was gone and I would not get it back.

At this point I wanted to tell them where they could take their house and where they could shove it.

But, on the other hand, I am not a quitter. And whats right is right and the numbers DO NOT LIE.

So, I applied all over again and waited and waited. I just received a denial letter stating, I was denied for the following reasons: Lender does not do loan modifications

OK, B.S!!! They have already gave me one, so how can they tell me that they do not do them. However, they told my modification company, that they denied it because they have already given me one!

Do they not understand that I do not WANT a NEW ONE? I JUST WANT THE ONE I SIGNED TO BE CORRECTED!!! ITS A TYPO FOR GOODNESS SAKE!!!! CLEAR AS DAY. COMMON SENSE, BLACK AND WHITE TYPO!!!!

So, at this point I am waiting for a NOD notice from the mailman. I have met with several real estate attorneys and they all have the same opioion as me.

It is their mistake and they are legally bound to fix it. However, it will cost me even more money to retain an attorney. Oh and did I mention, that the so called good faith payment of $5000.00 they required I pay and then told me that I would never get it back. IT WAS ILLEGAL!!!!!

Why in the world are these mortage companies allowed to mess with peoples lives like this and are NEVER held accountable. This is my home, this is my sons home. This house is my pride and joy. My own hard earned money has been poured in this home. This is a huge problem. But, unfortunatley, by the time the bank forecloses on someone, the owner is so emotionally exhausted that they just walk away and cut thier losses and the bank never faces any consequences.

THIS HAS TO STOP!!!! I am not giving up and walking away from these GREETY BASTARDS I am going to fight for whats RIGHT and what I am LEAGALLY entitled to!

So I am encouraging EVERYBODY to do the same. If this website proves a possible way for a class action law suit to begin, so be it! I am ready to begin!


This report was posted on Ripoff Report on 10/09/2009 07:40 PM and is a permanent record located here: http://www.ripoffreport.com/r/Saxon-Mortgage-Company/Ft-Worth-California-76161/Saxon-Mortgage-Company-Mathmatical-mistake-in-loan-modification-is-forcing-foreclosure-Ft-507100. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Saxon Mortgage Company

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory