The complaint has been investigated and
resolved to the customer's satisfactionResolved Saxon Mtg — Modification rip off
resolved to the customer's satisfaction
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.