Saxon Mortgage Services
Changed my Interest rate from 9.95% to 12.05000% without my knowledge

Saxon Mortgage is ripping me off. They bought my loan in April from another mortgage co. Everything was fine until February when my payment jumped from $946.46 to $1159.49 and my interest went from 9.9% to 10.5000%. Then again in September my mortgage payment jumped again to $1236.42 @ 12.05000%. I have tried to talk to them several times about this, but they are very rude and unbending.

I have never missed a payment or ever been late with a payment since we bought this house in 1993. One Representative was nice enough to speak with me for about 4 minutes, telling me the loan they bought was an adjustable rate low and my mortgage will continue to go up 2% every six months for the life of the loan. So I asked them about refinancing it to a fixed rate, through their company, but they said I did not qualify for a refinance based on some 80-20% rule and my appraisal. They said they could only loan up to 80%.

I only owe a little over 102,000 and my house appraised for $130,000, so what's the problem here? I even tried financing through another Mortgage company, but they block my attempts by ballooning my payoff way past my appraisal. I think they are trying to take my home from me and I desperately need help from someone. If you have any suggestions, I am open to everything. The BBB won't do anything and I have reported them on every site I can find, but no one responds.

Please HELP if you can. I will be 60 years old tomorrow, I work everyday mostly just to pay my mortgage now and I have heart problems, so I don't know how much longer I will be able to work. Help!

Company: Saxon Mortgage Services
Country: USA
State: Texas
City: Fort Worth
Address: 4708 Mercantile Dr
Phone: 8176657200

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