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Saxon Mortgage / Waiting 9 Months for Loan Modification

1 P.O. Box 161489, Fort Worth, TX, United States Review updated:
Contact information:
Phone: 800-594-8422

We have been waiting 9 months for a Loan Modification from Saxon Mortgage but Saxon fails
to return our phone calls. Our loan is a subprime loan which has been increasing every 6 months
since 4/1/08 and we are unable to refinance as we owe more than our home is worth. Our only
option is to get a loan modification. We have been trying to contact Saxon Mortgage since 1/8/08
to get this Loan Modification done, but Saxon has FAILED TO RETURN OUR PHONE CALLS
or DO A LOAN MODIFICATION. It has been 9 months. On 12-30-07 Saxon Mortgage agreed
to look over our Sub-Prime Mortgage to do a Loan Modification to freeze our interest rates and
possibly lower our monthly payment by decreasing the interest rate. Saxon mailed the paperwork
for us to fill out regarding our income, banking info, bills, etc. We faxed this information back
on January 8, 2008. My wife and I telephoned Saxon about every other day for the status of this
loan modification. We did not receive a phone call back until March, 2008 wherein the case
worker, Sandra Vasquez advised us to NOT make the April and May, 2008 payments since we
were doing a loan modification and making a payment would "mess up" Saxon's numbers. Ms
Vasquez stated the 2 payments will go to the end of the loan and will NOT BE REPORTED ON
OUR CREDIT. She stated she will call us back in 2 weeks to provide the completed Loan
Modification. She never called back, nor did any other Saxon Representative. My wife or I
continued to Telephone & Email the Saxon Loss Mitigation section and continuously left
telephone messages, which went unanswered. In June 2008 we check our credit report and
Saxon DID REPORT the 2 payments that we were told to not make. We continued to call Saxon
Loss Migigation and they said they would expedite our message and make it top priority. We
NEVER received a call. On September 18, 2008 (8 MONTHS SINCE WE HAVE TRIED TO
OBTAIN A LOAN MODIFICATION) the Saxon representative LaKisha said that Saxon did
received our fax 8 months ago, but they could not read it. She asked to refax it - which I did do.
Saxon did lie about this as they were working on the loan modification in April 2008. I have left
messages EVERY OTHER DAY for the new case worker, Ronald Hanes at ext. 204768 - which
NOT CONTACT US when we have been calling EVERY OTHER DAY for 9 months. My wife
is a stay at home mother and is home EVERY day and we also have caller ID - SAXON NEVER
CALLED. They have closed the case since they say THEY cannot get a hold of US!!!

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  • Ge
      4th of Sep, 2008
    0 Votes
    Saxon Moortgage - Greed
    Saxon Mortgage
    4708 Mercantile Dr north
    Fort Worth
    United States
    Phone: 817-665-7200

    This last July my wife and I sold our house in Tx that we had been making on time payments of 2400.oo a month and not late at any time. We started of with Novastar but soon after Saxon bought our mortgage, not good. Our mortgage was going to go up to over 3000.oo a month at this time we decided to sell the house as to not default on our mortgage. We knew that a prepayment was on the mortgage but we were told we could not refinance for that period of time, not sell our house. In thirteen months we paid them over 31000.00 but when it came time to close, they took more. What we had paid out to them was not enough. we walked away 1500.00 not even enough to start over. They sent a letter saying that they had a financial and compliance obligation to its investors, oh please. I do not remember asking them to ever buy my mortgage. I am not going to stop until I get fox news, cnn, billoriely, and so on.

  • La
      5th of Oct, 2008
    0 Votes

    I have had the same problems. I have been in hospital most of summer. i was anticipating the loss of income and that i wouldn't be able to pay the mortgage for 3 months. I sent them a message and was asked to fill in the form and provide documentation. They could not send me the form by email but i had to wait for it by snail mail.

    I faxed the info that day without the form. that was in early July. I received the form in the mail about 2 weeks later, so i faxed it with the additional info requested on July 21. I called and was called daily by saxon. They couldn't provide any further info. They told me it would take 15 business days before the file would be opened and then a negotiator would be assigned. On August 6th they claimed to have opened the file. I was told that it would take 10 to 15 business days before they could have a representative talk to me. So we waited and received daily calls requesting payment until August 28th.. When i called that day i was informed that the file had been closed for lack of info. i spoke with a supervisor who told me that i would have to start all over. my husband called and spoke with another supervisor who assured him that the file info was all there but that they had opened two files. one on the July date when i sent the info regarding my medical bills and hardship letter and another on August 6th after receiving the form and additional info. She had me refax everything to her and told us that we would have a supervisor in 72 hours.

    We waited another week with no results. I called and spoke to another supervisor who said she could walk the file to the negotiators and they would contact me within the next day or two. As she was on the phone, i faxed all the documents to her again. she claimed to have walked it to the negotiators. We never received any call. I called the number she left for me. but she never answered and her voice mail was always full.

    I keep telling the same story to the representatives that call daily. i get different responses. the latest is that is may take up to 4 or 5 months to get a modification. that it has been sent out to an outside vendor. that a negotiator will be calling soon... that the file was opened on sept 11th. and would take 30 to 60 says to complete..

    I was told to fax a request for a negotiator the the same fax number that i sent the last info. i have been doing that daily. no response. I will start making payments this month as i wanted and hope at some point they will call me back.

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  • Va
      9th of Oct, 2008
    0 Votes
    Saxon Mortgage - Make them pay
    Saxon Mortgage
    United States

    Here is the link which will be very helpful! You probably remember that I wrote a complaint on 8/12/08 on this web site and now I see more and more people joining against this company. Lets join together and send our complaints to the GOVERNMENT together. Again Saxon Mortgage do not have my papers and they said they have closed the file without my knowledge. I have faxed them the papers again on 9/30/08. Good luck everybody

    /URL removed/

  • Al
      7th of Nov, 2008
    0 Votes

    I so agree with you I did a loan modification with Saxon in July of 08 and sent them the money and everything that they asked for to pay the attroney fees they told me to make my first payment on Aug 1 08 which I did then In Oct 08 they reported me to the credit companys as 60 days late I have been calling them every day since this happen they keep telling me that they are working on this I cant even tell you how many people I have taked to it has even been documented in my file that Im not late to please correct this error the lady who worked my loan modification was Karla Aldridge who never returns calls at all she is like a ghost with a voice mail I just don't know what to do at this time they told me they would get back to me on Monday that this matter has been sent to the credit companys and this should all be cleared up by the 20 of October I have no faith in this system something has to be done about this company has anyone have any suggestions.

  • To
      10th of Nov, 2008
    0 Votes

    I have been dealing with this Saxon for a year or better. I have faxed the hardship 4 times because they say it was lost, misplaced, didnt receive or some other BS excuse. I am to the point they can have the damn house. I am sick and tired of this ### with them. I am to old to be playing the games. I will rent a trailer the rest of my life. I will not make another payment to the ###s.

  • Fa
      7th of Jan, 2009
    0 Votes
    Saxon Mortgage - Terrible Mortgage Company
    Saxon Mortgage
    United States

    I join the hundreds of people that have had no luck with Saxon. Since October 2008, I was told that I was excepted in a loan modification program. They have lost my papers twice, and then even said they put me on a payment plan, not a loan modification program. They have not responded to any of my calls. I have been assigned to a specialist and she has never returned any of my calls. They recently sent me foreclousure papers and I am to lose my homeFeb 3, 2009.I have 5 children and a grandchild (1) living in our home. We will be on the streets. Can anyone help. I went through Hope Now but after that there has been nothing.

  • Sa
      30th of Jan, 2009
    0 Votes

    Yes, Call Hope Now 866 472 4557. I hope its not too late. This is a federal program enacted by Pres. Bush in 2007 to help homeowners stay in their homes when they get behind in their payments. Hope Now will assign their Rep. as a 3rd party mediator to conference call on your behalf to request a Loan Modification. Be aware the Loan Modification will lower your payments for 5 yrs. but it is still an Adjustible ARMS after the fixed 5 yrs. This however did not end our problems with Saxon as they did not follow their own modification and properly apply the mortgage payments they had stuck in Suspense. They also screwed our monthly statements up to read we had negative amounts in the Delinquent Payment section and Total Amount Due section but still insisted we make full mortgage payments, very deceptive! We get phone called every day that say a different amount we owe, very very deceptive!!! The worst part is they RUINED our credit scores by reporting we were thousands of dollars delinquent, basically every payment made in 2008 and reported we were 7 X 90 days late which was a total out right lie. Because of there malicious, slanderous, fraudulent reporting to the credit bureaus, we are unable to out from underneath this criminal Sub Prime Mortgage Loan to get a low fixed rate loan. No State or Fed. government agency will help, you have to get a top notch Real Estate Attorney to sue them for their criminal behavior. Even that might not end the nightmare. [protected]

  • Ro
      18th of Feb, 2009
    0 Votes

    I have been going through H*ll with Saxon since 11/2007. I was approved for Deed in Leiu of Foreclosure in January of 2008, so they said. I was told I should receive the paperwork within the next couple of weeks and I never did. I left several messages and nobody would return my calls. Finally in May 2008 I got a phone call asking for an address to send the paperwork to. After a couple of weeks I called because I didn't get the paperwork (they sent it to the wrong address). I finally got the paperwork in June of 2008. I signed it, had it notorized and sent it back overnight on June 3, 2008. To this day the deed in lieu has still not been recorded and now they are reporting that my loan is in foreclosure. I have been leaving several messages for months now and nobody ever calls me back! I am so sick of this crap. I just want this out of my hair so I can move on with my life.

  • De
      16th of Mar, 2009
    0 Votes

    These are the most uncaring, unhelpful people I have ever encountered. My husband became ill a year ago and I tried to get my loan modified, sent in everything they asked for several times, and was denied. He just passed away a week ago and I am going through HOPE NOW to try to get some help. The lady at HOPE NOW and I were on three-way calling with Saxon and they were so rude to her. I have tried and tried and tried to deal with these people and am about ready to say screw my credit, take this house that I am overpaying for and stick it.

  • St
      5th of May, 2009
    0 Votes

    Please! I have been fighting with Saxon for over a year. I too went trough a Modification with Saxon I sent in the notarized documents with to required down payment. Two months later have not heard a word from Saxon either way. I called their stupid [censored] customer service and found out that the Modification had been approved, but nothing had been done beyond that point. It was just sitting there until I called them. They had no explanation for this and said they would begin the final process. I also questioned the location of my down payment and that also was no where to be found. I had to scram and yell for two hours on the phone and after going through five different idiots I got to the bottom of that problem the down payment had never been applied to my account it was again just sitting there. The last problem was they had sett my escrow at 325.00 dollars a month my taxes are 152.22 per month I pay my own homeowners insurance after fighting another hour with them they conceded and lowered my escrow to the proper amount. I hope you folks get what I am saying! They are not processing anything unless you call them to remind to do their job. I finally give up I am hiring a lawyer and filing a lawsuit. I have had with this awful company. Good Luck to everyone stuck with this nightmare company.

  • Ba
      3rd of Jul, 2009
    0 Votes

    My husband and I did not start out with Saxon. Our mortgage was bought from another company buy Saxon. We had no idea, my husband, he did the mortgage papers, I just signed, that we had the adj. In 2007 I lost my fulltime job and my husband had number 4 stent implant. He had not worked since 11/2007. Now we both did not have a job. It took all the money we had just to stay above water. I called and called and called again with NO come back from Saxon. I got some help to get mortgage up todate from HUD but no more. We have to pay them back. To make along store short, we are having the same problems as ALL of you.
    I agree we need to get together and class action.
    My name is Yonnie J Walk and I HAVE HAD IT!!!

  • Ho
      20th of Aug, 2009
    0 Votes

    My name is Harry Barnett and I am Senior Sales Manager at Hope 4 Homeowners America. We are a loan modification company that has had success with Saxon mortgage in obtaining a loan modification. We continually get seconds with saxon cut directly in half and they tend to take about 2 weeks to get done. We have found that Saxon mortgage is one of the better banks to work with and we would love to get a chance to work with you guys. Please check us out online at or contact us at 248-971-1900 and see what we can do for you. We have proven results in todays ever changing market and we can help you find the solution that is right for you.

  • Ce
      29th of Sep, 2009
    0 Votes

    My sister has been having lots of problems with this company. She was trying to get her monthly payments lowered and this company has tripled her payments. What can we do she is afraid that she is going to lose her home. Of course she cannot afford to pay the month amount they requested.

  • Li
      3rd of Oct, 2009
    0 Votes

    I am a California homeowner and my fiancee and I worked with Saxon Mortgage for 6 mos to get our modification. I don't think it would have ever actually happened if I wasn't a mortgage banking underwriter myself. We skipped their notorious intake dept by submitting a PERFECTLY articulated and documented package. We got the run around for sure: our assigned mitigation analyst, Cheryl Fisher, never returned calls until the day the documents were being sent to us. They fixed us for 5 yrs and ballooned the $40k in delinquencies ( 5 mos payments) at a rate HIGHER than the one we had per LIBOR adjustment March 2009. We sat there for a week wondering if we should sign. It would help with the arrears and stop the foreclosure, but the payment was HIGHER than the one we already couldn't afford. It took hundreds of dollars of faxing and Fedex'ing our whole package time and again, trying to get anyone's attention. We called every other day and left messages for Cheryl, again not hearing from her until the GLORIOUS day we finally got her on the phone and explained where HER MATH went wrong. We had to SPOONFEED the lender terms that were appropriate per market pricing and our situation. Miracle of miracles, she concurred. We requested the mod Dec 25, 2008. Our first payment on the modified terms: down from 9.45% fixed to 2.6% for 5 yrs, ballooning the delinquent amount for just as long, commenced July 1st. We are being forced to pay $600 XX per month to payoff the delinquent escrow amount...that amount they wouldn't balloon. In a year our payment will have gone from $5132 to $1557 and we have applied for decline-in-value reassessment with our City which should chip the tax bill down a little more. You have to be so diligent with these jerkoffs, but you can never let them know what you really think. Remember you're dealing with $8/hr employees who have no experience with modifications. Be nice. Be patient. Do everything you can to save money...they will need to be greased. Oh and just when we thought it was over? Now there's an xx $1600 in past due charges for the servicing company who mailed us 12 (no exaggeration) copies of recorded notice of default...that $1600 is what we have to pay our lender to get it out of foreclosure per the books. I guess now the next step is hoping that lenders will refinance modified loans in 5 yrs when our rate goes back up to whatever LIBOR is + our 3+% margin. For now, we're still nervous that Saxon will say or do something wrong again that sends us to the loony bin (why, last week out of the blue they say our first payment wasn't really July 1st, but Aug 1st so we have a cushion of an xx pay that will apply to October...called the next day to confirm this winfall and alas, whomever said that the day before was presumably smoking drugs...not true at all and if we hadn't called, we would have been late for Oct. UNBELIEVABLE!)...but still we're so grateful to be in our home. I have not read ONE success story yet and I'm interested in hearing if anyone is getting a modification actually done these days.

  • Ni
      19th of Feb, 2010
    0 Votes

    I work for a document preperation firm: US Mortgage Solutions, ( we are on a mission to help distressed homeowners prepare the proper documentation to be submitted to their lender, investor, and/or servicer for consideration for a loan modification. Oftentimes, homeowners get lost in the mortgage rhetoric and are unable to properly complete and submit their own loan workout package correctly to their lender. We will assist you in doing this correctly and in a professional manner.

    Homeowners do not understand that each lender, investor, and/or servicer may have their own unique requirements which can include lender, investor, and/or servicer specific required documentation. We understand that not only filling out the paperwork, but filling out the correct forms is half the battle.

    Our USPS specialist will assists you in preparing a complete package to submit to your lender, investor, and/or servicer. You can save thousands of dollars in unnecessary fees that would normally be paid to a loan modification company or save yourself the headache of trying to prepare your own application package correctly by reading a " do it yourself " book or being an industry insider.

    $495 cost for service toll free: 866-445-3627 ext 7024

  • Ro
      18th of Mar, 2010
    0 Votes

    do a shortsale most people dont realise that teh bank does not care about the homeowner and there are millions of boiler room scams offering loan mods popping up every day. talk to a licensed real estate agent about ur case. also many people do not qualify for the 5 requisites the bank requires

  • Ro
      18th of Mar, 2010
    0 Votes

    we do not charge for modifications or shortsales the bank pays us

  • Ob
      20th of Apr, 2010
    0 Votes
    Saxon Mortgage - Lies, destroys credit
    Saxon Mortgage
    United States

    Saxon during my modification or my mortgage, Saxon withheld three months payments, not applyingthem to my account, thus holding and using them to establish an escrow, making it look like I was three months behind on my mortgage. I even got a foreclosuer notice when in fact I had paid what was required. Saxon even reported to the credit bureaus I was 90 day behind on my mortgage, which was a lie and destroying my credit rating an ability ot even get a credit card. To top that off over this past winter I had major storm damage, Saxon is demanding I send them the insurance check, however they will not endorse and release it because they still say I am the months behind in payments, and will only release funds as he work is completed causing more damage to my home with each rain. Saxon is incompentent, the lie, late getting papers to you. poorly trained if that and no one knows whats going on at that company other than scripted call takers whom give you the run around. Think it is time for a class action suit and that the Federal govt take a good hard look at Saxons practices as well as the Attorney Generals of every state Saxon has mortages in and does business in.

  • Da
      15th of Sep, 2010
    0 Votes
    Saxon Mortgage - Bad company
    Saxon Mortgage
    United States

    We were move into our house in 2006 everything was good i mean saxon is just a terrible company i have ever know we was a couple a months behind but that will happen sometime because of bad times we tried to get them to get them to give us a fix rate so that we will be able to pay but no it didn't happen i have kids and i love them very much we lost our home because of saxon not helping no one out i pray every night for a home it seem like we paid more than what we owe if this was them in a mess like this i wonder what will they do they don't care all they do is want your money and that's not right we helping them out and they getting all our money which may be going in they pocket when we don't have no where to stay this just sad but i am going to put god in my hands cause i have a wonderful family i cry and pray every night that either i get my house back or get another but if some one reading plz i really want someone to help us out.

  • Fi
      4th of Jan, 2011
    0 Votes
    Saxon Mortgage - Fees
    Saxon Mortgage
    United States

    I thought I was working towards a mortgage modification, I waited 5 months to find out I never would have been approved due to my very low interest rate. While waiting for approval, I have been slammed with attorney fees, court filing fees, and inspection fees, totaling over $4, 200.00 which I am expected to pay back. I have been told my every rep at Saxon not to worry, as I'm now in a very high repayment plan, but the fees are a huge strain and complete robbery. I waited to be approved for a modifation that I could never be qualified for. I have been threatened with a foreclosure many times, notices on my door and nasty letters in the mail, even though I've been making payments. Nobody appears to know whats going on, the left hand doesnt know what the right hand is doing! I want to save my home, but Saxon is making it very difficult to do so!!!

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