My loan was sold to Saxon a few years ago and it has been a nightmare ever since. First they raised my interest rate through the roof. I called to see if there was anything that could be done. I was told that they would not help me unless I defaulted on my loan. RED FLAG! I ignored this advice and filled out loan modification paperwork anyway. I called daily for about 3 months before I was told we made too much money to qualify. I became very upset and explained to them that this made no sense. We were struggling to pay our mortgage, but we made too much money to justify dropping the interest rate??? After being passed from person to person, I finally got them to agree to drop our interest rate to 6%.
Two years later, due to unforseen circumstances, we became a month behind on our primary loan. I contacted Saxon and set up a repayment agreement. While waiting for approval for the agreement, I was hung up on. I assumed that the agent I was dealing with would call me back, but two hours later, I called the customer service line. I explained to the new person that I was dealing with that I was waiting on a repayment agreement to be approved. She informed me that there was no approval process, and that my account was set up. Imagine my suprise when a month later I receive a "Notice to Accelerate" in the mail stating that I have 1 week to bring my account current or face foreclosure. Confused, since I made the first payment under the agreement, I call Saxon and I am told that the plan was breached as my payment was due on the 20th, and I paid on the 22nd. I explained to the lady that I was never aware of the due date, as no one had eplained to me the terms of the agreement and asked to have my plan reinstated. After a long hold, I was informed that I cannot enter into a new repayment agreement for 6 months. I become severely aggitated and inform the woman that they have violated lending laws by not providing me with the terms of the agreement and that I will be suing and filing formal complaints. After another long hold, I give my financial information and once again I have been set up on a new payment plan, which will be due on the 20th.
I made my first month's payment. On the 6th of the next month, I sign in to online access of my account and note that I have $600 in suspense. I call to find out why, and I am once again told that my plan was breached and my loan is due immediately. I ask for a supervisor. I hold for 15 minutes. Victor finally comes to the phone and explains to me that my payment was due on the 20th and since I didn't pay until the 21st (incorrect), I have violated the agreement. I inform Victor that I paid on the 18th and my payment history reflects that payment. I ask him to look at it to which he tells me that I can give him my financials and we will see if they can set me up with another payment plan. After explaining to him that I do not want to disclose my financial information AGAIN and waste more time correcting THEIR mistake, Victor informs me all that can be done is to accelerate the loan and have someone contact me in 2-3 days to explain to me what is going on. This company is ripping people off and inflicting a ton of emotional damage on people who just want to live in their homes. I can not explain to you the anguish that I am going through having to deal with these liars month after month. I was literally shaking when I hung up the phone. I will be looking into a class action lawsuit against Saxon Mortgage!
0 comments