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My wife and I had a our mortgage with Novastar which sold it to Saxon Mortgage the middle of last year. I tried to refinance out of our current ARM and was told by another mortgage company that Saxon had not reported out payments since January. It is now May. And that this had crashed my credit score. He said it was criminal and that I should seek legal help immediately. Upon reviewing all of the complaints against Saxon on this website, I'm asking is there a lawyer out here that could them for all of us? If this can be organized as a class action law suit or something to that effect then someone contact me at Let's fight this!!
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| 1. Written by Saxon people Lie!!, on 03-08-2008 07:58 Saxon will lie on the phone, that falls under wire fraud, and seems to get away with it. They told me my house was going to a sherrifs sale on Nov 9, 2007. When I called Saxon, they told me that the notice was a mistake, and would be stopped. I checked the courthouse and was told there was no sale, so I felt much better. Well lo and behold, 60 days later, I was notified that the sale did take place under a non-judicial procedure, and the house was now in Saxon's name. The contract was breeched from the onset, and even the FBI claims Federal law was broken,but they cannot do anything, as it is outside of the of the Guidelines. The state AG is a joke also, and can be counted amoung the group that does nothing to stop predatory lenders!! Has anyone started a class action on this firm? Contact me at 417-739-1303 LeRoy |
| 2. Written by Wes, on 30-07-2008 12:24 I have all you beat! I have been trying to sell my house since December 07. I had to make it a short sale over a $27,000 pre-payment penalty. Saxon NEVER would work with me nor return a phone call. I received 7 offers over a 7 month period of time with not one response from Saxon. I faxed my financial package to them 122 times and talked with 28 representatives and managers. Have been assigned 5 negotiators with not one returned phone call. I was told to stop making payments in March so they would entertain a short sale (to waive the pre-payment penalty). Now, I am in foreclosure all over a pre-payment penalty. If anyone is filing a lawsuit and needs additional documents regarding how illegal and immoral this company is, please email me at |
| 3. Written by Jack&Jill, on 14-07-2008 00:46 on the last week of June 08, we went to a broker and she managed to get an aproval for a loan modification within 30 minutes, pending our documents. the following week Saxon confirmed receipt of our documents. to this day, we have yet to hear back regarding our approval at this point, we are unsure if we should followup or just take our time and wait and not pay anything till the approval. our info: Loan Amount : $480k Appraised Value : $380~$400K paymemts : current as of June08 |
| 4. Written by warmmitup, on 12-07-2008 12:26 This company is the WORST! There should be charges brought up against them! I had a house in another state an I had to move because of a job transfer. I had a tenant living in my property from sept 2005 til may 2008. I already own a house in my new location so paying 2 mortgages.....you feel my pain right? So I contacted them in Oct '07 to ask about a short sell, I was instructed to to put the house on the market for 90 days. I did exactly that! I called them 5 months later...YES March and enquired about the short sell, they sent the package I filled it out and turned it in, I waited a week, called them and I was told when I get a buyer call them and they would give me further instructions. On June 10, I called and told them that I got a buyer and they told me they had no paperwork so i had to go through the whole process AGAIN!!!!!! So this is going to take 3 months to process! I told them that this isn't fair and I have the original documents that I sent in March, something has to give here. I talked to a "Krystal" and she told me that if I sent those Original documents that she would walk them through! They Finally got my documents on the 17th of june and they told me that it would take 10 working days to be assigned to a "rep". I called them July 2nd, the 10th Day and now a Larry is telling me that it's going to be 15 working Days!!! So I called on July 9th the 15th working day...nothing, Now when I call I get sent to VM!!! Since then they have adjusted my rate 200 dollars more and I have 5 people waiting to by my house and they don't care all they care about is their MONEY!!! I think what they are doing is CRIMINAL! And there has to be a law against what they are doing to us!If there is a class action law suit I want to be in so email me at !!! |
| 5. Written by Hope, on 26-06-2008 15:10 The same thing happen to me. I had a stroke and was off from work. after I got out of the hospital I called Saxon mod dept. I was advied some one would call me back. after about a month I rec'd the papers to fill out. I faxed these paper back and aiting for a call from Saxon as they said I would in about 24 hrs. The call never came. I called every day for 2 months. Finally was told that I had missed a payment and did not qualify for a mod of my loan. I had to file bankruptsy to try to save my house. |
| 6. Written by unknown, on 26-06-2008 10:05 I can tell you from experience the only way you are going to get anything done with Saxon if you write your govenor and tell them what they are doing onlly after did i do that did anything happen with them just a suggestion. |
| 7. Written by bytor78, on 25-06-2008 12:39 Oh yeah if you are distressed,,,,then make changes and cutback. If you cant afford something. Do not buy it! That simple!!!!! |
| 8. Written by Bytor78, on 25-06-2008 12:37 You all need to skip all that bs and talk to thier legal and the president of the company. As far as Credit Reporting, once a loan is transferred to another mortgage lender RESPA says that the first 3 months of the loans transfer are NOT reported to credit . After the third month, credit reporting then resumes. Question: How do you get forced into BK because of a mortgage company. I dont get it. A lot of the times I have never recieved a billing statment from a mortgage co. But that does not stop me from calling and finding out what the deal is. Most people who are distressed financially need help, but to look for it you need to look somewhere else than a mortgage company and stop whining. How about get a second job????? |
| 9. Written by rupkinmae, on 20-06-2008 14:33 we were forced to file bankruptcy because of saxon. no one would return our calls - a modification was way above our means - we were told that our child care expenses wouldn't be factored in when considering what we could afford to pay - we kept getting further and further behind. we are due to experience a rate increase in september of this year - I can't imagine what our options will be now that we've got bankruptcy on our credit report. saxon is NOT willing to work with their customers. Nor do they care if you lose your home and quite frankly, the equity we have in our home is currently our life savings, they are a hateful, criminal company and i only pray we find some sort of relief from them before september rolls around. |
| 10. Written by calicat, on 16-06-2008 15:22 i am another unhappy customer of Saxon. I have been working since Jan to get a remodification loan. I faxed over the docs in Jan, began calling a few weeks later only to be told that nothing was rec'd. Faxed everything again and was told "Christina" was my rep. No calls to my several voice mails requesting an update for over a month and finally the first part of April was told "Christina" no longer worked there however the good news was that my loan mod went thru, (what happened to contacting the customer and telling them??) The paperwork was at the attorneys office being re-wrote and to expect a Fed Ex package in the mail in 2-3 weeks. Could not tell me an exact amount that I would need to send, only that it "wouldn't be over $1600." --No package. Called several times in May said everything was still okay. Called June 5th, was told that my file had never been reassigned (from Feb?)and my loan mod never made it to the attorney's office. Because of my information being too old I must resubmit everything and as soon as they received it, they would put a rush on it and get it to the attorney's office. Asked again about the amount I would need to send when this all happened and again was told "approximately $1600." But it would be at least 2-3 weeks, possibly 4 before I received anything and to just keep calling back. On June 11th I had a Fed Ex package delivered to my door that contained remod papers. These papers were to be returned by June 17th along with $3100. WHAT?? what happened to the $1600?? Since June 12th I have spent over 10 hrs on hold waiting to get thru to the 'work out' department to find out why I have now received these papers when I was told they didnt exist and why the change in the amount, not to mention the paperwork is back dated to April stating my new payments would begin May 1st. My last phone call I called Customer Service, was told that the 'work out' departments phone system was down Friday and Saturday and they received an email to advise customers of this---so my question to the C/S dept was...then why did they keep transferring me to that dept if the lines were down?? What was the excuse last Thurs and today? My third attempt to call today, I was on hold for 1 hr and 47 minutes. This seems to be a company that doesn't have a clue what anyone is doing.....they just tell you what they can to get you off the phone. They could care less.... |
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