Six months after my husband (79) and I (65) were married, he confessed to me, he had taken a mortgage with Saxon out on his home to buy stock in a oil venture. The oil venture was a loss. They sent him a little return once a month and then it stopped. It seemed everything that was realized from the wells had to be used to pay expenses. He paid them over $130,000. We have been trying unsuccessfully to regain anything back. I have a consumer complaints on this under King operations - Anderson-Drake.
Now we are dealing with Saxon. They have continued to increase his payments. There is no way to buy our way out of the $150,000 they want. The loan was for $73,000 for 30 years.
My husband was 78 years old when they made this loan to him. They knew it was impossible for him to repay it. Now they are constantly asking for insurance confirmation which we send and they ask for it again and threaten to insure it themselves as it is not insured. Today we received a letter from them asking for $1000 now for insurance which will be put onto our payments.
They already take escrow payments for taxes which my husband has been paying himself and has receipts. They say they are paying them so they have to charge us.
Everything that has been written in the rip-offs reports are happening to us now. We will lose our home as we can not pay them. My husband works drilling water wells. He works in all kinds of weather to keep paying this mortgage payment. They didn't care how old he was just as long as they got their payment. They also knew he was a widower and the prospects of getting his house in the near future must have been elating to them.
We will make it as I have a small store in another town. We are building onto the apartment I have in back so it will be as comfortable as we can make it. We won't be able to retire ever but we will be together.
If anyone has a way of fighting this type of dictatorship business, we would join anyway we can to help to end their rule.
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