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Saxon Mortgage Services Inc Saxon WORST company ever...lies, lies, lies Irving, Texas
My loan was sold to Saxon a few years ago and it has been a nightmare ever since. First they raised my interest rate through the roof. I called to see if there was anything that could be done. I was told that they would not help me unless I defaulted on my loan. RED FLAG! I ignored this advice and filled out loan modification paperwork anyway. I called daily for about 3 months before I was told we made too much money to qualify. I became very upset and explained to them that this made no sense. We were struggling to pay our mortgage, but we made too much money to justify dropping the interest rate??? After being passed from person to person, I finally got them to agree to drop our interest rate to 6%.
Two years later, due to unforseen circumstances, we became a month behind on our primary loan. I contacted Saxon and set up a repayment agreement. While waiting for approval for the agreement, I was hung up on. I assumed that the agent I was dealing with would call me back, but two hours later, I called the customer service line. I explained to the new person that I was dealing with that I was waiting on a repayment agreement to be approved. She informed me that there was no approval process, and that my account was set up. Imagine my suprise when a month later I receive a "Notice to Accelerate" in the mail stating that I have 1 week to bring my account current or face foreclosure. Confused, since I made the first payment under the agreement, I call Saxon and I am told that the plan was breached as my payment was due on the 20th, and I paid on the 22nd. I explained to the lady that I was never aware of the due date, as no one had eplained to me the terms of the agreement and asked to have my plan reinstated. After a long hold, I was informed that I cannot enter into a new repayment agreement for 6 months. I become severely aggitated and inform the woman that they have violated lending laws by not providing me with the terms of the agreement and that I will be suing and filing formal complaints. After another long hold, I give my financial information and once again I have been set up on a new payment plan, which will be due on the 20th.
I made my first month's payment. On the 6th of the next month, I sign in to online access of my account and note that I have $600 in suspense. I call to find out why, and I am once again told that my plan was breached and my loan is due immediately. I ask for a supervisor. I hold for 15 minutes. Victor finally comes to the phone and explains to me that my payment was due on the 20th and since I didn't pay until the 21st(incorrect), I have violated the agreement. I inform Victor that I paid on the 18th and my payment history reflects that payment. I ask him to look at it to which he tells me that I can give him my financials and we will see if they can set me up with another payment plan. After explaining to him that I do not want to disclose my financial information AGAIN and waste more time correcting THEIR mistake, Victor informs me all that can be done is to accelerate the loan and have someone contact me in 2-3 days to explain to me what is going on. This company is ripping people off and inflicting a ton of emotional damage on people who just want to live in their homes. I can not explain to you the anguish that I am going through having to deal with these liars month after month. I was literally shaking when I hung up the phone. I will be looking into a class action lawsuit against Saxon Mortgage!
2 Updates & Rebuttals
Michelle B
Defuniak Springs,Florida,
United States of America
Robert from Irvine is an idiot, or a Saxon employee
#3Author of original report
Wed, December 07, 2011
Well, Robert. As a matter of fact my loan has been a nightmare since it was sold to Saxon, but I was trying to get to the point as concisely as possible. I get phone calls repeatedly, every month, even when my mortgage is in good standing. When I answer the phone to find out why I am being called, sometimes 8 times a day, and at work, I am often told it was an error, or I get a computer and usually disconnected before I can get a person on the phone. And, I do not consider myself "lucky" that Saxon lowered my interest rate and I could not legitimately pay my mortgage as you so heartlessly point out. I contacted Saxon after amounting a ton of medical debt, which left us struggling, and me out of work for quite a while. I found myself paying my monthly bills on credit cards just to scrape by. I thought I did the responsible thing by negotiating with Saxon, and they sure didn't go out of their way to make it easy, rather than filing for bankruptcy and just walking away. I pride myself on my hard work ethic and my impeccable credit, and did not make any decision lightly. As for the payment date of the 22nd, I came up with that date based upon when I had the money to pay and I knew the amount of the payment because I pay through their online access, but my due date was never updated after the repayment agrrement and still reflected the 1st. To answer your next question, my payment on the 18th was made through Saxon's website, and I have taken pictures of the screen shots that reflect this information, in case it should change now. I read report after report about people who were promised this, that, and the other from Saxon while their homes were sold out from under them. So, Robert from Irvine, I assume you work for that POS company and I ask you sir, and I use the term loosely, how do you sleep at night??? Saxon Mortgage is a con of a company and I for one will not take this treatment without a fight. I have contacted the FTC, OCC, the Attorney General's office for the State of FL, and my Congressman, as well as leaving my story on any website where I feel it could benefit someone else. So, Robert from Irvine (coincidence, I think not), go back to your evil employer and tell them that they have not heard the last of me!!! Saxon is involved in multiple class action lawsuits...seems funny if they are such an upstanding company!
Robert
Irvine,California,
U.S.A.
A few things
#3Consumer Comment
Tue, December 06, 2011
My loan was sold to Saxon a few years ago and it has been a nightmare ever since
- Actually it sounds like it was only a nightmare when you wanted to pay less.
First they raised my interest rate through the roof.
- They CAN NOT just raise your interest rate out of the blue. You probably had an Adjustable Rate Mortgage. Which if that was the case it doesn't matter who had your loan..the same thing would have happened, because it is what YOU agreed to when you got the Mortgage.
I called daily for about 3 months before I was told we made too much money to qualify. I became very upset and explained to them that this made no sense. We were struggling to pay our mortgage,
- You may have been struggling to pay it..but you were paying it. Why would they modify it? Last time I checked there is no guarantee that things are easy in life. Consider yourself very lucky that they lowered your Interest Rate down to 6%. There are people with Mortgages at other banks who legitimately can't make their payments and aren't given any relief.
I explained to the lady that I was never aware of the due date, as no one had eplained to me the terms of the agreement and asked to have my plan reinstated.
- So you knew the amount because you had already paid it on the 22nd, yet you didn't know when it was due. Did it ever occur for you to ask? How did you come up with the 22nd as your payment date?
Victor finally comes to the phone and explains to me that my payment was due on the 20th and since I didn't pay until the 21st(incorrect), I have violated the agreement. I inform Victor that I paid on the 18th and my payment history reflects that payment.
- Was that the day it was mailed or sent from your bank or is that the day they received it? You also left off any details such as months and years so were any of these dates weekends?