Saxon Mortgage Services, Inc. Repeatedly Denies My Loan Modification Under HAMP Fort Worth, Texas

I have been struggling for the past two and a half years to stay current on my mortgage payments to Saxon as well as to stay on top of all my other financial responsibilities i.e., vehicle insurance; Arizona State Property Tax, homeowner's Insurance; utilities, food/clothing, etc. I don't even have cable TV, or a cell phone! I cannot afford them.

My income began dropping since 2007 when the local economy where I live began to fail, and jobs in my industry (Electronics Engineering) have mostly gone off-shore to India and Asia. Work hours with my employer were cut sharply (more than 60 percent) but I was never actually laid off. I also operate a consulting business part-time to make extra money.

I applied with Saxon several times during 2010 and 2011 for a loan modification under the Obama HAMP Home Affordability Program. But I have been repeatedly DENIED a loan modification with a letter stating that, "The investor does not allow modifications to your loan". But here is the interesting part: After a bit of research, I discovered that Saxon not only services my loan, they are also the investor on my loan! - clearly a Conflict of Interest. Why would Saxon willingly choose to modify a mortgage loan that would result in them making less money?

I eventually hired a professional organization where I live to assist me in getting the loan modification. I also filed a formal written complaint against Saxon with the Arizona Attorney General's Office back in February of 2011. The complaint was filed for me with the assistance of the organization's legal office. The complaint states that Saxon agreed to participate in the H.A.M.P. Home Affordability program and has accepted federal funds to do so, but has been reluctant to modify more than just a very few loans as if to show that they are in compliance with the HAMP program rules. But they never modified MY loan even though I was clearly qualified for it.

My formal complaint to the Attorney General's office had little positive affect or remedy. All I received from Saxon in response to the complaint was a play-by-play time line showing all the correspondence between me and Saxon since my default began, and they maintained that the investor will not allow a modification to my loan. My loan went into foreclosure by Trustee Sale in December of 2010, but I was able to rescue my home at the final hour by a monetary gift from my parents.

A few days ago, I received another "Notice Of Default And Intent To Accelerate" letter from Saxon. They are maintaining that I am behind in my payments but, accept for this month, I have made every payment on time since the reinstatement of my loan after the foreclosure was abated. I have made every payment each month as the monthly statements arrive, but they apply each month's payment to the prior month causing me to be in default with a 30 Day Late on my credit record every month. However, my bank records and canceled checks show that I have made (and Saxon has received and negotiated) every payment I've made since my loan was reinstated. I fell behind this month which is what triggered the recent letter.

I now have only one recourse remaining. I will now seek deep legal action against Saxon. I plan to either cause or become a party and participant in a CLASS ACTION lawsuit against  Saxon Mortgage Services, Inc., to force them into compliance with the HAMP program and to modify my mortgage loan with monthly payments I can afford. In addition, I feel strongly that I am entitled to substantial monetary damages as remedy and compensation for all the mental anguish, pain and suffering I've had to endure over the past two and a half years because of Saxon's inaction on my loan modification, and the eventual foreclosure I had had to endure. I will NOT rest on this matter until I receive the Loan modification I am qualified for. I have records of all letters, phone calls and other correspondence between myself and Saxon Mortgage since this matter became an issue.

In addition, I urge anyone who has had similar issues with Saxon to seek the assistance of legal counsel and sue immediately or become a party to a Class Action BEFORE they can ruin your credit rating or foreclose on your home. Do not attempt to fight them on your own! It is clear by their actions, and it is my opinion that Saxon is NOT acting in the best interest of their customers nor the communities they serve. All they care about is money, money, MONEY. In my opinion, they will need to be massively sued by homeowners to force them to conduct their business honestly and equitably, and to bring them into full compliance with the rules of the HAMP Program.