I refinanced my home about three years ago. After one month my mortgage had be sold twice ending up with Saxon. I went through Hurricane Katrina and like most in our area (New Orleans), we were not able to go home for 8 weeks to see the damages and we lost our jobs. Saxon could have cared less. They still made me pay my two house notes that I was behind. They had both notes on to my monthly notes for six months. Keep in mind, that I was out of work.
I was late on my house note one month. I sent them my payment with lates fees. My house note was due April 1, 2007 and I sent it May 3, 2007. They sent it back telling me that now I need to make up both house notes at once. They also charged me about 450.00 dollars because they thought that I had moved out and they had to pay this fee to have someone drive by my house to see if I still lived there. I guess that had to drive from Fort Worth, Texas to New Orleans, La., Yeah right!
I am responsible for my own Flood insurance which is 1200.00 a year. It is due in June. I rec'd a letter from Saxon telling me that as of date (May) they have not rec'd proof of my payment for the flood insurance so they had to buy it for me and they were adding on 5000.00 to cover the insurance. When I sent them proof of payment they sent the same amount of 1200.00 that I paid to the insurance company having doubled my payment and added it on to my monthly note. They would not admitted fault and now I am paying more per month.
They started going up on my note every six months from 8.5 to now 11.13%. They also informed me that they would continue until the legal limit.
Saxon took it upon themselves to add in my homeowners insurance without consulting me. My note went from 1045.00 month to 2038.00 monthly. I rec'd letters every month threatening forclosure and they will not try and lower my note so I can keep my house.
I recently miss one note. They are giving me three months to cover the note by making me pay 2674.00 monthly for three months on the 20th. IF I am one day late they said they will forclose.
Maybe I have found the cure. I will let you know in three weeks. I tried to refinance but due to Katrina my credit is very poor. I have been contacted by a company whose will get my note back to 8.5 %. Which is the original note. It is through a hardship program. Now I won't have to pay the 2600.00 anymore, ridiculous late charges and they can't raise my interest rate anymore. If this company (attornies) find that they have been less than honest they will have to add in all of the fraudulent charges back into my loan. Once I get my credit back up I can refinance with anyone. But for now, Saxon will not force me into bankruptcy any longer. The company I am referring to is called Telecore Direct. Telecoredirect.com. They are using attornies Fransen & Molinaro. Fransen&molinaro.com or fransenandmolinaro.com. Please check this out. It is worth saving your home. Saving something that you have worked so hard for. Don't let them bully you any longer.