We filed a loan modification and it was approved. The only thing we were able to do is to take our past due and put it to the back of the loan. They would not change our interest rate of 9.375%. Our monthly payment is still high and now my husband is laid off from his job.
On top of all that, when I sent all of my notarized payments to them as asked in a timely manner, along with the processing fee that I was told twice after checking, that this was accepted but did not meet the terms. Also, since I did not receive the package until mid-November, I asked that the start date be changed to December 1st. The operator checked with her manager and they approved it. Well, they never told anyone else! Now we are late again.
I have since disputed all of this information, I have kept notes on all of my phone conversations. I also did not know that there were operator numbers, which I now ask for and have the numbers for each person I spoke with. They do have on file the dates and people I talked to, with a brief explanation.
Now, since my husband has been laid off from his job, our credit is shot, because he did not receive a check for 5 weeks. We are now trying to play catch up, and wanted to refinance, but with our credit now, it is impossible. I wish we could get a decent fixed rate!
Saxon still has not answered me about the dispute, this was back in January. I still continue to make payments on the account.
west springfield, Massachusetts