• Report: #379389

Complaint Review: Saxon Mortgage

  • Submitted: Wed, October 08, 2008
  • Updated: Sun, November 16, 2008

  • Reported By:SCOTTSDALE Arizona
Saxon Mortgage
saxonmortgage.com Fort Worth, Texas U.S.A.

Saxon Mortgage A different response with every call Fort Worth Texas

*Consumer Suggestion: Consumers Rights to Unfair Practices

*Consumer Comment: Saxon Mortgage

*Consumer Comment: Saxon Mortgage

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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.

A Matus
SCOTTSDALE, Arizona
U.S.A.

This report was posted on Ripoff Report on 10/08/2008 12:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/Saxon-Mortgage/Fort-Worth-Texas/Saxon-Mortgage-A-different-response-with-every-call-Fort-Worth-Texas-379389. 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.

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0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Consumers Rights to Unfair Practices

AUTHOR: Andre - (U.S.A.)

Being the victim of the same mortgage company I have done the following and suggest everyone else should do the same thing based upon Banking laws. Go to the Federal Trade Commission website and file a complaint (your complete story). Make sure you are very detail and specific as to your complaint. Include all information including the account number so they can see the pattern Saxon and other Mortgage companies are doing. Once you file that complaint also go online to file a complaint with your states attorney general with the same information. Also include information about this site so they can see the pattern as well. I know for a fact that once the FTC gets involved the mortgage company has 24 hours from being notified by them to respond. I am sure if enough people do this it will start serious talks with the mortgage company. I call this practice they are doing Credit Flushing. They cause your credit to be flushed (lowered) which forces you to be at their mercy. Be your own plumber and help stop this practice.
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#2 Consumer Comment

Saxon Mortgage

AUTHOR: Amy - (U.S.A.)

I too am having difficulty with Saxon like many others. My mortgage adjusts next month and Saxon denied our rate modification application. I feel like they are pushing us into a foreclosure situation. I am thinking long and hard about stopping my payments to them come December and running as fast as I can away from this company. If I let the house go into foreclosure then bankruptcy would be the next option for us given that we would own thousands on this mortgage. Has anyone taken this route and what are some of your findings? At the end of the day this is just a house and the financial impact is not worth the stress. These jerks at Saxon and whomever owns my mortgage can have it back!
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#3 Consumer Comment

Saxon Mortgage

AUTHOR: Virginia - (U.S.A.)

Dear Friend,

I hate to hear this story. My story with Saxon is dated Nov 29. Even though I never missed a payment Saxon Mortgage filed with the credit report agencies that I was 3 months behind so I couldn't refinance either. A friend bought my house and I hope to buy in back in 6 months. Do you have a friend, family, anyone who can buy the house and then in 6 months when your credit comes back up you can refiance again.

This company is very bad. I hope to go with FHA next time. Good luck my friend.

Gina
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