Saxon Mortgage They took 12,000 without an explanation of where the money went Huston Texas

Recently Saxon mortgage increased our monthly payment by $1400 without an explanation. Our mortgage does not become adjustable until December 2007. They made this change back in April and we have become behind in our payments. In June they stated if we made two payments right now and another in 30 days, it would keep us from going to foreclosure. So of course, we sent them the money as requested.

In September they told us that money went for "other" fees. However, they have yet to give us a break down of where that money was applied. In addition, they stopped sending our monthly statements. Now it's October and they have filed for foreclosure proceedings. They state we haven't made a payment since April even though we sent them three separate payments which they have cashed. They are stating we owe them an additional 23,000. I'm still wondering which window my $12,000 flew out?

We've lived in this home for 7 years. In that time frame we have refinanced our house four different times in an attempt to get away from this company. They have bought our loan back every time we've refinance. I've just recently discovered that we could have kept them from buying our loan back which I'm going to share in my warning below.

Warning: For those consumers out there going for loans please listen to this posting. Add a clause into your loan that Saxon Mortgage is not allowed to buy your paper. You as the consumer can keep yourself from being ripped off. All you have to do is write in this clause. As someone that has dealt with Saxon Mortgage for the last seven years, let me say; it will be the best clause you've ever added to a loan.

In addition, if anyone reading this is starting a class action suit against Saxon Mortgage please be aware that I'm IN. I can tell you stories of being lied to over and over again that will turn your grandchildren's hair gray. Please everyone take care and beware.

Renee
Rocklin, California
U.S.A.