May 2, 2011 Re: Tracy Wood/Saxon Mortgage 12851 N. Whitlock Canyon Dr Tucson, AZ 85750 To whom it may...
We have been waiting on a modification loan since January 2009. Always the same story lost document did not receive documents. Taxes and insurance not paid from esrow. If we told the whole story we could write a book.
I had made a complaint back in February, 2011
I would like everyone to know how SAXON Mortgage Services handled what they did to me. My house was sold on Feb 8, 2011. I got a call from Richard Yellett, The investor who said he was buying my house at auction at 11 am. Of course socked!! They bought the house, offered it back to us for $50, 000 more and closing fees as well as any taxes due. So we were going to try and buy it. Then SAXON calls, they open up a file to investigate what went wrong. So we tell Richard Yellett and his partner Warren Michaels, we are not buying the house. Saxon admitted this is a mistake, just like we told them from the start. We had 4 days to move out. Saxon admits they have made a mistake, and now they are talking about rescinding the sale. It is now, Feb 25, we are moving out.
Saxon calls my Attorney to tell him they are buying the house back from the Investors. Never happens the locks were cut and now Investors have the house. They continue to say they are buying the house back. My house is up for sale, with a sign in the front yard. They told the BBB today, March 17, 2011 that they are still trying to get my house back, and that I never sent the correct documents, I was missing payments. Total lies! I had to fax everything twice because they lost everything the first time around. I have 16months of information about this modification I was approved for. Its funny how SAXON wants to blame me, when I have all the documents showing they approved my modification on June 14, 2010. I am now fighting Saxon for the wrongful foreclosure. I also have to defend myself against alleged charges the Investors made against me. This is all due to SAXON making a horrible mistake. Their right hand doesn't know what the left hand is doing! That's why they lose payments, fax documents etc... azdailystar.net did a story BOLT OF BLUE and KOLD NEWS channel 13 you can also read the story and see the news clip on my website, www.bellakaidesigns.com its in the blog section. I will not be a quiet voice . I will continue to file complaints and send my story out to all news stations and radio programs. In case you were wondering, I have filed with every single Govt agency and Attorney General, In several States. I have also sent Obama a complaint, as well as US Senator John McCain ans Gabrielle Gifford's
This is truly a nightmare!
We got our mortgage from Meritch Mortgage Services in 2001. It was a 15 year, fixed rate loan. When the guy left he took the loan papers claiming he would send me copies of them. I believed him, but never got loan papers. It seemed like things were going okay, I had a coupon book and it looked like money was coming off the principal.
Then we received a letter stating that Meritech sold our loan to Saxon Mortgage Services in 2002. Once Saxon took over, everything changed. I couldn't get in touch with them for quite some time. When I did, I asked for a monthly statement so I could see what I owed and had paid. They finally sent me statements and now the contract had changed.
Our loan became a 360 month (30 year) loan. I asked for a copy of the loan papers. It's our loan with Meritech that says it's a 15 year, fixed rate loan, with our signatures and our witness’ signature as well. But Saxon added an addendum that says it's a 30 year loan, with a 15 year balloon payment. We never signed an addendum.
I just found this "addendum" about 6 months ago and never knew that it became a 15 year balloon payment. This is Fraud! They can't just change the terms of the loan and add "addendums".
Our payment has gone up a lot. When I questioned them why, it was always, “oh, the taxes or insurance went up”. I have tried to get 3 different attorneys to look into this and try to do something about it. One attorney did find out that they were double insuring me. Then he sent my money back and said he wouldn’t handle the case. That, too, is illegal. When I contacted Saxon they said it was ‘extra’ fire insurance. If you get to talk to a real person, they talk you in circles. This is the most fraudulent company I’ve ever had to deal with.
I was making overpayments and the guy told me if I didn’t specifically tell them that it was an ‘overpayment to be applied to the principal’, it went on the interest.
Whatever you do, don’t let them know that you’re struggling. I did, now they are sending someone around to make sure we’re still living there, at a charge to me, of course.
I thought a contract was a contract and the terms of it couldn’t be changed or signatures forged. There has to be someone willing to stand up to this company.
I want to recommend that all Saxon Mortgage Complaints be forwarded to the FTC.gov - The Bureau of Consumer Protection. There are plenty of individuals dealing with Saxon to make this a situation that needs to be investigated. This is truly mismanagment and incompetence and needs to be investigated for the protection of the consumers. No one that I know of CHOSE Saxon as their servicers yet we all have to deal with them. Just because they are Servicing our loans does not mean we need to put up with this type of business practices. Please file a complaint with the following offices:
*BBB of your state and TX.
* FTC.gov - Consumer Protection
* Attorney Generals office of your state and TX
Be sure to list all your CC: on the bottom of your letters. Let them all know you are taking your complaints outside their little world. Forward a copy of your complaint (minus any vital info) to the news stations. They might want to hear about it.
In June 2009, we were to begin payment for our newly 'modified' loan, which locked our rate for a number of years to 7% and reduced our monthly payments by $200. At least, this is what was indicated in our modification contract/agreement (which they did not submit to us with signatures).
We called Saxon and made our first (reduced) payment on June 1st. July, we call and make our payment, for the amount of our modified loan. Saxon accepted both payments. In August, I call to make our payment, and they refust to accept it. They said our payment was now $300 more than our modification amount (at this point, we have not received anything from Saxon indicating a change in our payment) and that the last payment we made in July was sitting in an account marked as "unallocated" funds.
I asked that the 'operator' read for me what Saxon had on file for my current payment amount - her records indicated this new larger amount. I asked if she had access to our new modification agreement, and she did, and she verified our contract amount.
At that point, she opened our account 'for review' from higher management, we were advised to disregard any notices we receive while they 'review' our account to clear up the amount due, and not to submit payment (which they refused to take on every attempt).
Everyone we talked to over the next 2 months indicated that they were escalating our account 'for review'. Noone contacted us, noone reviewd our account, and we were now behind in payments.
We made an attempt to pay through September, and Saxon refused to accept our payment until they completed their review, every time we were advised that our home was not going to be subject to Foreclosure or Default while they completed their review, and to disregard any notices we receive, since they are automatically generated.
We made several (documented) phone follow up calls to find out the status of our account, attempting to pay each time, which was refused for 'review'. We were then advised to submit a new application for modification. They sent us the paperwork, we put together a new 112 page application package, and submitted it by fax and certified mail.
Our phone call to verify receipt of our package, and to find out the status of our account, resulted in being told they received our package and we would receive information by mail indicating their progress with our account, soon. That very day, we received 10 certified notices of default, and 10 additional traditional mail copies of default/filing with our court - intent to sell the property!! Yes - 20 copies of their intent to foreclose. This was in early Nov 2009. We are still under the impression that our home is not in danger of default or foreclosure, because our account is still 'under review' and they had not straightened out our original modification and payment amount, or how to get the 'system' to accept a payment from us. We are still under the impression that we are to 'disregard any notices' we receive.
We also received 2 modifcation notices within 2 days of my follow up call - one notice requested a call from us to submit more information, they other notice was to inform us that they received our package and it was being processed. I called them, in response to their notice/request. I was then asked for my payment, I attempted to pay, was rejected again (I am always told it is a flaw with their system and they can't take my payment).
I asked what information they needed for the modification - and the operator said they showed no indication that they needed anything by the information provided on my account. This is when they tell me: "Because your home is in foreclosure." WHATTT?????? If you can imagine, I aksed the 5 W's - Who, What, Where, When, WHY and HOW????
Further review of my account with the operator, and I discovered that the information about the new investor on my account (investor #159 - they won't tell me who owns my loan) DOES NOT DO MODIFCATIONS. So... now my account has fallen behind for every month they refuse to take payment, they put a hold on our account for their own review which they never performed, they requested a new modification application (this can take 45 days to process, after they accept it), we learned they increased our payment because our 'Escrow Increased' - without notification, we have been told our home was not in danger of foreclosure - and they have now filed with the court in Sacramento to sell our home if we don't come up with the balance due. Mind you - they are sitting on $1800 of ours that they are holding as 'unallocated', which would have covered the increased escrow amount they apparently added to our account, and caused a problem with their system so they were unable to process our payments after July.
We are now desperate to keep our home and were advised by Saxon to also apply for the goverment home affordable mortgage help - in the same conversation with Saxon, we were refused that service until December, because Saxon was 'going through a restructuring and would not be able to process the Home Affordability Program applications until after Dec. 1, 2009." So, yesterday (Dec 2nd) we called in and applied for this program over the phone. I'm not sure we trust our application is going to be processed. We were declined because we had a modification on our account already and we missed our first 3 payments!! WHICH WE TRIED TO MAKE!!
They put in a request to put a hold on foreclosure while our account is under review for the new gov. mod. The hold did not take. Now, our home is in Foreclosure, and I honestly don't know what this means exactly, or what to do next. I spent $300 with an attorney after finding out our home is actually in foreclosure, only to be told it would be too expensive for us to take this to court. I am at a complete loss, literally, emotionally, and figuratively.
Hoping noone else every has to experience this nightmare.
I am a Realtor working on short sale approval for my client, and not getting a response from Saxon. They have...
Saxon Mortgage Services: Reconstructed mortgage loan May 21, 2008. Have not missed one payment. Saxon says we have made no payments since October despite the fact that we have cerified-mailed and faxed the proof of payments. Thet took $15, 500.00 upon loan reconstruction and never told us where it went. Now they have filed a default otice 24 Dec. We have talked to HOPE NOW and have a HUD Counselor as of 01/31/09. We have not made our Jnauary payment because Saxon did not recoed the December payment and returned November payment. In addition to our $15K they have over $8000.00 in escrow after taxes paid in December. On top of all this we have both been laid off. Our house has dropped from the purchase price of $679, 000.00 in Sept. 2005 to $425, 000.00 now. Can anyone direct us to a class action lawsuit? Milaena
I have read other complaints on this site and will join you in complaints against Saxon Mortgage.
Before i go into detail about what Saxon has done, or failed to do, I want to shae some very valuable information. Saxon was acquired by Morgan Stanley Brokerage in 2005. Your complaints about Saxon should go to Morgan Stanley. Here is the contact informaton you need. I encouarge you all to do as I did and that is to call, send an e-mail and also send a letter by snail mail.
Morgan Stanley Advocasy Department phone number: [protected]
mailing address: Morgan Stanley Client Advocate
680 West 10000 Suite 3rd Floor
South Jordan UT. 84095
e-mail address: [protected]@morganstanley.com
The phone will be answered by a human being. Tell them that you are an investment owned by Morgan Stanley. We are infact, investments that Morgan Stanley has purchased and has hired or acquired Saxon Mortgage Services to do just that, service our mortgages. As an investment of Morgan Stanley we are a valuable commodity. They can't afford to lose any of us. So by all means contact Morgan Stanley Brokerage and let them know how dissatidfied you are with the Service you receive from Saxon Mortgage. BE PROFESSIONAL, don't scream or cuss. I recommend that before you call, write down, in detail, those things that Saxon has done wrong in Servicing your Account. Then also write down what it is tha you are looking for Saxon to do. Be realistic. If you are in a mortgage that there is just reasonable way for you to maintain, then bite the bullet, contact Saxon and ask for a deed in lieu of foreclosure. Then don't wait for Saxon to move you out of the home, make arrangements and move. Don't destroy property and don't do foolish things like remove windows or ceiliing fans and light switches. DON't
PAINT THE WALLS RED or scribble ugly words on them. These type of actions will only get you in trouble and doesn't help your cause.
Here is what has happened with Saxon and Us...
1)We were sold to Saxon before our first payment was due.
When it came time to make the payment, and understand we had always made all of our payments on-line, Saxon demanded a 4.95 payment to make a payment on-line, unless we set them up for ACH or Automatic payment. Who charges someone to make a payment to thier account? This action was to force people to set up automatic payments
2) Saxon paid the wrong homeowners insurance company, the wrong insurance premium
Saxon had listed our insurance company as State Farm Ins. we've have never used State Farm to insure anything we own. In addition they paid $660 on this premium we did not own. Our insurance Premium was $402. We made the discovery upon receiving a cancelation notice from our homeowners insurance company. It took from June 2007 until December 2007 to get this straightened out. and that included calls everyday to Saxon. Our biggest concern is where is the $660 that was retuned by State Farm. It as never posted to our Escrow account, nor was it applied at a priciple reduction, or payment. So where is it?
3)Saxon double paid our REAL Homeowners Ins carrier. After 2 months that money was returned and posted to a suspence account, after several calls and a few months, instead of being posted to our escrow balance. Saxon applied it as a principle reduction, several calls and another month later this money was transferred to our ecrow balance.
4)In December 2007 we receivd a letter from our county treasurer's office that stated we owed back taxes and penalties and interest. Again a few calles to Saxon Mortgage and Saxon finally paid the proper tax amount, However they have charged our acount the penalties and interest. I am still fighting them on this one.
5)Saxon has changed our payment amount 5 times in the year and a half that Saxon has serviced our account. There have been no justifiable reasons for changing (always increasing) our payment amount.
6) I performed an amortization of our account and realized that Saxon was charging us 88. more each month than was owed for P&I and escrow and this had been going on with each increase Saxon had made to our loan payments. Saxon had posted our annual property taxes as $547.12 instead of the correct amount of $345.44. They had also continued to show the wrong insurance company and the wrong insurance premium . FINALLY in November 2008 I got Saxon to do a re-amortization of our account. It is still slightly off, but is closer to what the payment should be.
7) We tried to refinance and get out of the grasps of Saxon in December 2008, to no avail. Saxon maintains that we signed a 5 year 5 percent prepay penalty document when we closed our loan. When we reviewed our documentation (several times), we found no document of any prepay penalty. We asked that Saxon send us a copy. They did. The signatures that appear on this Document are not ours. We want to fight Saxon on this and have sent a letter to their protected Customer Relations Department and heard nothing back from them at all. Our next recourse would be to hire an attorney and fight Saxon on this, but following a conversation I had with an attorney, this is one of the most difficult cases to argue, it becomes a sort of he said, she said kind of thing and is costly. We do not have the funds available to begin such an argument or I can guarantee you that we would.
8) Since we could not refinance at a lower interest rate we are stuck with Saxon. If Saxon had cooperated, we would have long ago resolved the connection we have with Saxon and also our rate would have been reduced and our payment lower, but as it is, we had to turn to Saxon for a loan modification in September 2007. Here we are in Mid November of 2007 andwe have yet to have a conversation with a negotiator from Saxon. We were told at the time that we filed for the modification that the negotiator has 20 days to make contact. That is of course, 20 business days, excluding any federal holidays. Lets see. September 10th---- until Novemebr 20. Some where in ther I know we hae well past the 2 day marker. I call everyday. And everyday I get to leave a voice mail. I will tell you that one day at 5:53 in the afternoon, I missed a call from Saxon. A voice message was left, giving me a name of Trina Higginbotham, supposedly a Vice President of the Loan Loss Mitigation Department and a direct dial phone number. I have called this number everyday, up to 4 times a day and each time I receive a voice mail system encouraging me to leave a message and that my call will be returned. No call has ever been returned.
In my opinion Saxon treats their customers as much less than dirt., They don't think of us as cusotmers, uyet they should, because we are indeed an Investment belonging to Morgan Stanley who acquired Saxon Mortgage and if the investment crumbles thereis loss for everyone involved. Again I encourage you to contact Morgan Stanley.
My husband and I re-mortgaged our home in 2006. Saxon bought the loan. My husband passed away in Aug 07. I requested that due to the unforeseen circumstances, they waive the 3 yr pre-pay penalty. I even asked for a discounted penalty since t here was only 10 months left. I had to move to cheaper place. We had made payments $2372. for 2+ years. I made ontime payments for a year after I moved from the house. They refused and I had to pay approximately $5000 before I could sell my house at a BIG loss. The company has no heart, no sense of being. I WOULD NEVER DO BUSINESS WITH THEM EVER AGAIN. I will be their worst advertisement nightmare telling everyone I meet about the bad business practices they have. I hope they lose their license. I wish them BAD loans! many foreclosures! Mistreated in TN.
I wish I had checked these guys out before I got mixed up with them. What Dirt Bags! Judging from what...
They bought my mortgage and I sent the first payment to the old mortgage company. Now they are fining me $4K...