We moved into our new home in June and 2 months later our mortgage was sold to Saxon Mortgage Services. The nightmare began shortly thereafter. We have an 80/20 mortgage which the first mortgage has an ARM. We had a 2 year prepayment penalty notated on the mortgage and couldn't refinance until June unless we wanted to dish out thousands of dollars to do so.
We fell behind and contacted them to see what could be done. They set us up with a payment plan (only to find out that after the fact that they assessed us fees that they never told us about - otherwise we never would have agreed). After the first run in with them I am glad that I have everything documented.
Last July I retired and paid them what was past due was a month ahead or so we thought until they said our escrow account was short (which we never gave them authorization to do so) so now a portion of the payments we make are going to the escrow account (for taxes) and the remainder is a credit until another payment is made which shows us as being late.
When you do try to make a payment they say you can't make a partial payment that their system doesn't allow it. Which tells me that they aren't here to help you just gouge you for more money. We too receive numerous automated phone calls from Saxon (imagine that - not a real person to talk to not that they would be able to help you). We have paid them thousands of dollars only to find out, we're still behind. Needless to say, that our credit has been affected and we aren't able to refinance so for the time being we are stuck with these jackasses.
We will do whatever it takes not to lose our home (excluding bankruptcy) but it's frustrating having to deal with idiots like this. If there is anyone that can give us advice or more information, contact me at I do see that we're not alone unfortunately. If there is a class action lawsuit count us in. I know the BBB can't do anything but hopefully the AG's Office will.
JK
Enola, Pennsylvania
U.S.A.
0 comments