Report: #385940

Complaint Review: Saxon Mortgage

  • Submitted: Wed, October 29, 2008
  • Updated: Wed, October 29, 2008
  • Reported By: Salem South Carolina
  • Saxon Mortgage
    9311 San Pedro Ave (PO Box 163405)
    San Antonio, (Ft. Worth, TX), Texas

Saxon Mortgage Services, Inc Saxon Mortgage tried to foreclose or take my house when I never missed a mortgage payment. San Antonio Texas

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Saxon Mortgage Company tried to foreclose on my house. I had an APR loan that almost doubled in the four years I had it, but I managed to pay my payments each month (never missed a payment). I received letters from Saxon for many months that I owed thousands in back payments and late charges. I kept asking them why they were doing this to me as I kept making my payments.

When I realized Saxon was serious about taking my house, a friend bought my house. At closing Saxon charged me interest charges of $6,571.41 plus an escrow charge of $888.88. I finally found out that on two occasions the APR had gone up and I had missed the difference on the first increased payments. The first was about $65 and the second about $450. I offered to pay this plus a reasonable late charge before "selling" the house but they wouldn't hear of it. Strange they wouldn't tell me this until the end. I was also charged a late fee at closing of $2,570. I can see paying 5% for the two months envolved which would be $257. (I missed an insurance payment and my insurance cancelled and Saxon put me on their insurance for 5 months for $2,300 and got all of it except the $888-a little excessive ). Needless to say Saxon filed a report with the credit bureaus that I was 3 months behind in payments making it impossible to get another mortgage.

I have written them twice requesting a refund of $6,571.41 (interest) , the $888.88 escrow and excessive interest charges $857. My mortgage payment at the beginning for $250,000 was about $1,600 and at the end it was $2,570.

There are some bad mortgage companies out there and Saxon is one of them. These people need to know that they can't do this. Maybe I should ask for the $250,000? Address info: Saxon Mortgage Services, PO Box 163405, Mortgage number 1044292333. Ft. Worth, TX 76161.

Salem, South Carolina
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This report was posted on Ripoff Report on 10/29/2008 09:36 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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