Saxon Mortgage Ripped off for the last time with a solution Fort Worth Texas
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.
Pam
Metairie, Louisiana
U.S.A.
5 Updates & Rebuttals
Nikki
Coconut Creek,Florida,
U.S.A.
Everyone, read your mortgage docs.
#6Consumer Suggestion
Wed, May 14, 2008
If anyone out there has a second or later change date coming up, your payment and interest rate may be lowered. Many of the ARM mortgages were based on LIBOR, and could not go more than a certain percentage above current LIBOR. Last year, the LIBOR rates were high, but they have come back down.
I, for instance, had an ARM mortgage that stated the rate will not go more than 5.25% over LIBOR. Since LIBOR is currently at around 2.?%, my interest rate would have gone down to 8.?% rather than the 11.49% I would have had.
Luckily I was able to refinance to a 30 yr fixed, so I don't know if the contract would have been followed.
Crystal
Sicklerville,New Jersey,
U.S.A.
i just want to make sure this company is for real?
#6Consumer Comment
Mon, May 12, 2008
hi, pam i feel your pain, me and my husband has been contacted from telecore direct and all they had to say was great. i was happy to hear there is copmanies out there that help, but with all the scams going on i just had to check these people out, i thank you for that. but at the same time there is another report about the same company saying they are a fraud, report #307896.... what do you think? thanks again
crystal-new jersey
Cleslie
LaGrange,Georgia,
U.S.A.
Do you have this company?
#6Consumer Comment
Fri, May 02, 2008
To the first person that commented, if you dont have this company nor the paperwork, how can you say you signed for it? Saxon mortgage told me that in my paperwork that I signed and initialed stated that if force placed insurance ever came into existence, it is there for the life of the loan. I went through all my paper work and its not there. I had them mail me out the paper stating that and uhm, its not there. People that are complaining about this company actually have legitimate complaints because they are ripping the consumer's off!!!
South Texas
Leesville,Texas,
U.S.A.
Huh?
#6Consumer Comment
Wed, April 09, 2008
Did the original post mention an ARM, or are you assuming that because of the monthly interest increases? Looks more like another case of the mortgage company midhandling insurance issues and doing whatever they can to force a forclosure...
Mortgage
Keller,Texas,
U.S.A.
You signed for it
#6Consumer Comment
Wed, April 09, 2008
I hate to sound harsh but i'm tired of listening people complaint about their mortgage companies for the increase of payments because of ARM Loans. its a contract that as a consumer you agreed to, you are responsible to signing the documents. the company does not make any changes on the NOTE if you did not signed for and agreed to when you initially agreed to.