I'm heartened to hear that the law is cracking down on Saxon Mortgage. But will relief come to the regular homeowner before a foreclosure sale? My mortgage was bought by this company and for two years I had a perfect payment record.in August they solicited me for a "fast track" loan modification in advance of a scheduled December ARM increase. And then disaster struck. I was hospitalized in September and again in October. I've talked with Saxon many many many times, completed reams of paperwork which they mysteriously have "no record of receipt". At least I Fed-ex'ed one set and have proof they did receive. From October to now, Saxon representatives have repeatedly told me to wait to send in payments because I would need the money for closing costs for the loan modification. As I became increasingly nervous with the situation I did send payments but last month when I went to submit a monthly payment, they WOULD NOT ACCEPT PARTIAL PAYMENT and the full payment was the full delinquency. I've spoken with other mortgage companies and discovered that by following Saxon's instructions, the result is that I am effectively locked out of the mortgage market and will find it near impossible to secure any refinancing.
I'll be spending my week contacting HUD, 1-888-995-HOPE, Missouri and Texas Attorney General's and every other legal avenue I can think of. I'm hoping a class action suit will be filed promptly against Saxon Mortgage as perpetrators of LOAN MODIFICATION SCAMS and FRAUD so I can participate. I did everything Saxon Mortgage instructed me to do, but it seems their intent was to force the property into foreclosure. I just bet they have some other company waiting to scoot in and scoop up properties at the expense of Main Street Americans.
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