Saxon Mortgage / Modification and runaround

1 Annandale, MN, United States Review updated:

I did a search to see how many people out there are having or have had the same or similar problems with Saxon as I am currently having. OMG!!! I am mortified on how many people there are with the same and similar complaints. My mortgage was bought out by Saxon from Novastar and I have had problems ever since. I started preceeding to the home affordibility mod. program and that was August of 2009, in which I still don't have a concrete answer from them. They continue to give me the runaround. I am in serious fear of having to try and sell my home, or lose it to them and then myself and my 2 sons, my grand-daughter and our pets will be out of the place we have made our HOME for 3 1/2 years all because I couldn't afford to make the payments that were originally set because of a broke relationship. I am stressed out, I was getting 3-6+ phone calls from Saxon per day, 6 days a week and even after talking with someone and a hour later someone else is calling and OH they call it a curiosity call. NOT, more like harassment! I have done all they wanted, given them all the papers they have asked for and they tell me on 4/16/10 that I may still get denied after being on it since August of 2009. They haven't any idea how much stress they cause people...and none of them know anything when you call to see what is going on. Very frustrating, stressful and unnecessary to do to people trying to do the right thing and pay them and keep their homes!!!

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  • Li
      27th of Apr, 2010

    The issue is what do we do. There has to be some help out there. I have been in my home 15 years. Saxon has refused to finalize modification request I made 1 yr. 6 months ago. We have children. Someone needs to inform us how to begin a class action suit. This Company is as crooked as they come.

    +1 Votes
  • Sn
      2nd of Jun, 2010

    Lisa, have you been served with foreclosure complaint? Check it carefully, if you have, and make sure that Saxon themselves have not assigned your mortgage to someone else. That's what they did to us, so the Complaint they filed as being holder of our note, is not valid. They were never the "owner" of our mortgage, only the service, but they filed the complaint as them being the holder of our loan...I have now hired an attorney and am fighting the foreclosure. It's a slow process, but it's worth the try, and it keeps them off your back. Look at your documents. If this is your case, too, then you can call the Court yourself, tell them that you are not sure that Saxon actually holds the note to your home, and that you want them to produce it. We did that in December, and they STILL HAVE NOT BEEN ABLE TO PRODUCE THE MORTGAGE NOTE.

    +1 Votes
  • Ch
      2nd of Aug, 2010

    I am with you! I am trying to go through the loan RMA due to loss in income and they started off so great saying how oh ya do this and you wont have to worry. Well let me tell you it's turned into a HUGE nightmare! I have been keeping notes and today alone I tried to call them to make sure my paperwork was received. Now this is the 3rd time I've sent them my paperwork and they mistereously lose it! I got and this is no stretching the truth, reruted to 10 different employees and got a different answer almost every time! I've so had it with them and this bull. There has to be something we can do about them. I dont owe only about a fourth of what my house is worth so I know very well they have a reason to get rid of me so they can make money off my home!

    0 Votes
  • Fe
      17th of Dec, 2010

    We have had a 15 year balloon mortgage with Saxon since 1999, and since principle has barely been paid off in that time, I am sending extra principle payments, clearly noted as such on the payment coupon as "Extra Principle". But the Accounts Receivable staff at Saxon just applies the extra payment however they want to, usually as interest. I called Saxon Customer Service yesterday to complain about this, that I always have to call and make them apply the money properly. I was told the staff at Saxon never look at the coupons as "they don't have time to look at those coupons", and the only way to make sure my extra payments get applied properly to principle is to call Saxon every month and they will do a "work order" on how I want my payment applied. I am sure this is not legal, but what can a lowly customer do?

    +1 Votes
  • Fm
      6th of Mar, 2011

    Our loan was also sold to Saxon from NovaStar Mortgage and all we have had is problems ever since. I lost my job in June of 2009 and I asked for help and when ironically they told the attorney who we were working with that our payment with taxes, escrow and principle it would only be $835.00 and when the first payment came for us to make when we agreed to that payment the slip said $1200. So I was still unemployed a year later and they told us to put our home in a short sale and get rid of it. We are making two payments a month and they have just told us that they have sent us a breach letter with an intent to file for foreclosure. When they call you they do not leave a message so you have no idea that have called you. When I spoke to a Customer Service Rep at Saxon and I was told that they would not accept my payment even if my bank sent the check to them, I think if they are getting a payment they are going to accept it and not return it. Saxon is part of Goldman Sachs and Deusthle National Bank.

    0 Votes
  • No
      6th of Apr, 2011

    It seems to be very common that so many people are having or have had similar problems with Saxon. My loan was sold to Saxon from NovaStar. I was under chapter 13 for a little over 5 years and paid over $80, 000.00. When I completed chapter 13 Saxon informed me that I still owed the same amount that I owed before the chapter 13 program . I applied for the loan modification after I fell behind in payments again.I submitted all the information to them three(3) times and each time they would tell me they didn't receive it all and each time a different person was speaking to me and according to them there was nothing on file about me applying for a loan so they would send out another form asking for information that I had previously sent. Anyway after going back and forth for almost 2 years with trying to get a modification loan I received a foreclosure notice with a set date for my home to be auctioned. Before the foreclosure notice I sent over half of the payment that I was behind and the payment was return. I couldn't take it anymore so I put my things in storage and moved out. I was in my home for many years, then I was 61 years old and homeless. Oh yes, after my home was sold I received a letter suggesting I should apply for the HOPE program. What a Joke!

    0 Votes
  • Sa
      8th of Jun, 2011

    They are givin g the rounds for not to complete the modifications almost 16months now:(

    0 Votes
  • Sa
      8th of Jun, 2011

    The company is givinig rounds last 16 months. Even though I am not behind on my payments they are chartgiong late fees atc

    0 Votes

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