When I originally bought my house 18 years ago, I paid cash for it. I have done many years of work to it and my family has grown up here. Over the years, I have had some health problems and being a single parent, being out of work here and there absolutely hurt my credit. When my income was low, prior to having my surgery, I mortgaged my house to support my family. As rates changed and situations changed, I refinanced a couple of times to get cash out or a better rate. Trying to put my kids through college, I found myself in a position where I had lots of equity but not much cash. I talked to a lender who said that I should take advantage of the equity instead of having it sit there. Sounded like sound advice. At any rate, my health problems cropped up again and I was again, in for surgery. One thing led to another and I wound up with a rather predatory lender, paying a high monthly payment with very little of it going to the principle. I still have a very decent amount of equity in the house however, and was able to make payments, figuring I would either A) sell the house now that the kids are grown or B) refinance with a better contract later.
Well, my mortgage was just sold to Saxon. Let it be known that I have never had such a rude and obnoxious conversation as I did with the Saxon representative who called tonight.
My mortgage transferred on 10/31. I was laid off in November. I was very nervous about making November's payment. It was due on the 16th, but wouldn't be reported late until the 30th. I received a phone call from a representative on Nov. 17 telling me that my payment was overdue. I told them I realized this, but because I was laid off, it would probably be a little late. I would try to make it on time. Then 11/22, I received a letter from Saxon welcoming me as a new customer and informing me that my first payment would not be due until 1/1 in the usual amount. I was thrilled and relieved.in the past when I had refinanced it was not unusual to have the new company wait a month or two to begin collecting payments.
I received a phone call 12/17 from a Saxon rep. Saying that I was now overdue for both Nov. AND Dec. "No, " I told him..."I have your letter right here stating that my first payment is due in January". He said that he couldn't find a copy of that and I was due for Nov. And Dec. Regardless of what the letter said. He then asked me to fax him a copy.
He would not give me his last name even though I asked. I told him I would fax a copy and that they could expect my payment in January.
Tonight I received yet another call from Saxon, this time a woman. She told me again, that my payment was overdue for both Nov. And Dec. Again, I got out the letter, read it to her and said that they could expect my payment in January as the letter indicated. That was the last correspondence I received from Saxon, I told her. She proceeded to tell me that I was well aware my payments were late and I just "wasn't paying". I again, told her that the letter clearly stated my first payment to them was due in January. She also said she "couldn't find that letter" when I specifically asked. As the conversation escalated, she told me that I "wasn't paying just because it was a new company" and what made me think I could just "decide to stop paying". When I AGAIN, referred to the letter they sent me, she told me that it was a mistake and shouldn't have gone out when minutes earlier she told me she couldn't find it and didn't know what I was talking about. She proceeded to tell me that someone hit a wrong button and letters went out to lots of people, but THEY ALL called in to see if it was true or not and I should have too.
I asked her if I should consider other correspondence from them mistakes as well? Why should I have called in and questioned this particular letter? It was not unusual, was clearly dated on 11/17 and I had not received any other letter saying it was a mistake. She got very rude at this point and told me the letter should have never gone out, they didn't mean it and were basically not going to honor it.
Again, I told her they could expect my payment in January as the letter indicated. She was very accusatory, but I have no idea why. I have the letter right in my hand and read it out loud to her. At any rate, I told her that this better not appear as late on my credit report or I would fight it. She said that she was going to put me on hold to see if it was going to be held against me, and left me on the phone holding. She never came back.
I really think that what they are going to try and do is wait until January and then try to foreclose. They are obviously sneaky and I truly believe they are trying to take people's houses. Why else would they send out a "mistake" letter saying that people didn't have to make a payment and then try to backpedal and say we are two months overdue?
To me, this is very predatory and I am contacting an attorney to find out if it is even legal. I refuse to give up my house when I have been paying through the nose and ruining my credit to try and hang on to it. The housing market has crashed in this area, unemployment is up, I have been laid off and I think they are taking advantage of this.
0 comments