We contact Saxon in NOVEMBER of 2007 about our approaching rate hike. We were told it wouldn't happen until January. Of course it happened in December.
In December, we requested a modification package. We were told we would receive one. We received a financial package to complete, which we did, within 10 days of receipt.
In January, we were told Saxon received our paperwork.
There are dozens of phone calls & faxes that I won't list here. The upshot is we FINALLY received our modification package, which we had requested in December, on April 14, 2008. We completed everything, had it notarized, included certified funds for the modification fee, included a check for April's payment, as our Saxon representative had instructed us to do, Fedexed everything back on April 17.
Saxon had cashed our mod fees and April payment by April 21.
December's, January's, February's and March's payment, under the terms of the modification agreement, were put at the end of the loan on a balloon payment.
On Friday, 5/23, we received a foreclosure notice. Our phone calls are going unreturned. We are being told not to send May's payment, as they will not accept anything less than the full amount owed. Our problem is that under the terms of the modification agreement, May's IS THE FULL AMOUNT OWED! We are told on the phone that foreclosure is a different department and they don't know there's a modification pending.
We have a record of every phone call, paperwork, etc. I suppose at this pointwe'll hold onto our money and wait and see what the judge says. I an appalled at the unprofessionalism and ineptness of the customer service agents at this company. Here they have someone trying to give them money, trying to make payments, and they attempt foreclosure. It is tempting to let them.
Fort Myers, Florida