I call Saxon Mtg. in 2009 to pay a late mtg pmt. by phone. It was suggested to me to apply for a modification. I filled out modification papers that were sent to me (twice! they kept saying something was missing on the ones I sent back to them) I was told the modification would take about 6 months. It turned out it took over a year. During the process, they lowered the payment amount almost half. I paid the amount they required, never missing a payment, never being late. After many phone conversations, duplicate papers being sent to them, they finally told me I did not qualify, the principal of my loan increased 10, 000 dollars and my interest rate was raised to nearly 7%. I had to immediately start paying the new amount or they said I would be foreclosed on. During this time I ended up having back surgery, having to retire early from my job as an electrician because of the surgery. When I complained to them that the modification they had said I could get turned out to work against me, they said, "You signed the papers!" I had signed the papers, out of fear of losing my home. I was still recuperating from the surgery, on medication for pain. So, I was had. A few months ago, Saxon sold my mtg, to another company called Residential Credit Solutions, Inc. I tried again to get a modification with a company I saw advertising on T.V. because I am under water. It seems RCS., is not reporting my pmts to the credit bureaus. I don't know what to do next. I am retired trying to pay an $1100 mtg. payment., trying to keep my home. Saxon has ruined my life.
The complaint has been investigated and resolved to the customer’s satisfaction.
If if you lost your home and are demoralized, you can complain to CFPB. Use this basis: RCS only accepted 12% of HAMP applications because they calculated allowable arrears wrong and failed to extend the number of months remaining. If you have the NPV inputs, supply those, too. If they took your house, they probably did it by violating HAMP. They got millions an millions from TARP and were not required to pay it back.
Best of Luck