I am in the Phoenix, AZ area and have my mortgage through Saxon. I have also been trying to get a loan modification since October or November of last year. My house was scheduled to be sold in March of 08. At the last minute I was able to come up with the delinquent amount.
Since I was borrowing it from my parents, I didn't want to just give Saxon the money and be back in the same situation. I asked the person who was "helping" me specifically if they would be able to do a loan modification once I sent in the payment so that I could keep the house. Because if they couldn't do that, I just prolonged the inevitable. She assured me that once the payment was received, it would take about two weeks and they would modify my loan to give me a lower interest rate and lower my payments.
So, two weeks later I call my "helper" and she no longer works there. No one knows what she was talking about and I have to submit my paperwork, again, for the loan modification, which they denied. They said to submit the paperwork and request my rates be reduced according to the President of the United States' new policies.
I have sent the paperwork to them no less than five times.
I have fax confirmations for each time I have sent the paperwork. Every time I call, the rep tells me something different. They said they had my paperwork and it was being review, they said it would take 30 to 45 days. I call back and they are still reviewing. Again, still reviewing. Finally in September I called and someone told me they did not have my paperwork and to resend it all again. My home is now being foreclosed on with a sale date pending and what do I do?
This is an awful situation for all of us. Mine is very, very personal as this house is my family house. My parents were the first owners of the house. I bought it from them several years ago and now I will be the one to lose it.
If anyone has any suggestions, please help. I would also be willing to join any suit against Saxon.