In April I was applying to refinance out of my current mortgage with Saxon to a low fixed rate of 5.875%. This would have saved me arround $200.00 per month currently. I could not refinance becase my credit went from a 700 to a 500 score. Soon after I received a notice from Saxon that I was 3 months behind in payments. Which was not true. I called Saxon and discovered that they did not Credit my March Payment and marked me late for February. I was instructed to Fax documentation to prove I made my payments with Bank statements and canceled checks I did so and sent the Documentation in in April. I am still waiting. When we were making our May payment the payment was refused and we were told if we did not pay the total balance we would be foreclosed on. The Customer Service reps are very rude. We receive calls almoust daily and 4 to 5 times a day only to explain over and over again. Do not mail a Payment to Saxon. For Some reason the Post office takes 15 days or more to deliver. Either that or The Post Office only delivers to their PO Box on the 16th of the month.
My ARM adjust in August so I am starting to think that this is Saxons way of preventing someone to refinance out.
Also Last year Saxon forced insurance on me stateing I had no Homeowners insurance. When I was sending payment they were appling the payment to the Insurance and not the mortgage payment.
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