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Loan Modification Not Obtained for 9 months
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Oct 4, 2008 Saxon Mortgage complaint by Tinytoes1 |
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Our loan is a subprime loan which has been increasing every 6 months since 4/1/08 and we are
unable to refinance as we owe more than our home is worth. Our only option is to get a loan
modification. We have been trying to contact Saxon Mortgage since 1/8/08 to get this Loan
Modification done, but Saxon has FAILED TO RETURN OUR PHONE CALLS or DO A
LOAN MODIFICATION. It has been 9 months. On 12-30-07 Saxon Mortgage agreed to look
over our Sub-Prime Mortgage to do a Loan Modification to freeze our interest rates and possibly
lower our monthly payment by decreasing the interest rate. Saxon mailed the paperwork for us to
fill out regarding our income, banking info, bills, etc. We faxed this information back on January
8, 2008. My wife and I telephoned Saxon about every other day for the status of this loan
modification. We did not receive a phone call back until March, 2008 wherein the case worker,
Sandra Vasquez advised us to NOT make the April and May, 2008 payments since we were
doing a loan modification and making a payment would "mess up" Saxon's numbers. Ms
Vasquez stated the 2 payments will go to the end of the loan and will NOT BE REPORTED ON
OUR CREDIT. She stated she will call us back in 2 weeks to provide the completed Loan
Modification. She never called back, nor did any other Saxon Representative. My wife or I
continued to Telephone & Email the Saxon Loss Mitigation section and continuously left
telephone messages, which went unanswered. In June 2008 we check our credit report and
Saxon DID REPORT the 2 payments that we were told to not make. We continued to call Saxon
Loss Migigation and they said they would expedite our message and make it top priority. We
NEVER received a call. On September 18, 2008 (8 MONTHS SINCE WE HAVE TRIED TO
OBTAIN A LOAN MODIFICATION) the Saxon representative LaKisha said that Saxon did
received our fax 8 months ago, but they could not read it. She asked to refax it - which I did do.
Saxon did lie about this as they were working on the loan modification in April 2008. I have left
messages EVERY OTHER DAY for the new case worker, Ronald Hanes at ext. 204768 - which
were not returned. TODAY, OCTOBER 4, 2008, SAXON MAILED US A LETTER STATING
THAT THEY CLOSED OUR CASE FOR A LOAN MODIFICATION DUE TO THEY COULD
NOT CONTACT US when we have been calling EVERY OTHER DAY for 9 months. My wife
is a stay at home mother and is home EVERY day and we also have caller ID - SAXON NEVER
CALLED. They have closed the case since they say THEY cannot get a hold of US!!!
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Saxon Mortgage Complaints
1. Written by Laura, on 24-02-2009 10:22
I have been working on my midification for a year now and all I hear is there is not enough paperwork supplied to them, every month I am giving them updated bank statements. This is just stupid!!!
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2. Written by tinytoes1, on 07-12-2008 22:46
After Saxon closed our case I contacted the Better Business Bureau and filed a complaint with them. Needlesstosay, Saxon contacted us with a week of receiving the complaint. At first they said we did not qualify for a loan modification because we did not MAKE ENOUGH money. I sent back in our figures and changed the amounts of bills we were paying. We since have been APPROVED for a loan modification (ONLY FOR 5 YEARS). Docs have been signed and they have received them. I do suggest filing a complaint online at BBB for your area.
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3. Written by Victoria, on 07-12-2008 20:16
I hired a company that charged me $995 for a modification. I currently have Chase Mortgage. I used to have a 10.75% rate. I was 3 months behind. This company worked out a new agreement for me 4% rate fixed for 5 years and then it converted to a 30yr fixed after the 5 years at a 5.75% rate. They really saved my home. Here is their info. Home Rescue Center 714-852-5089
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4. Written by James, on 20-11-2008 14:56
I don't know what to do right now. I am trying to get a loan modification, but I don't know if I should do it myself or hire a loan modification company to help us. Has anybody ever tried using one of this companies? We are currently up to date on our payments, but upside down on our loan and owe property taxes. Need Help.
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5. Written by tinytoes1, on 07-10-2008 20:46
I am not really sure what I can do but call several times a week. I just cannot believe they closed the case stating that SAXON could not get a hold of US when they never tried. They are suppose to reopen it by tomorrow.
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6. Written by lisa saenz, on 07-10-2008 20:23
please let me know what you are doing about it
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7. Written by lisa saenz , on 07-10-2008 20:21
Oh my gosh Im going throughthe same thing right now as we speak.
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Consumer Forum is another great place to discuss consumer concerns NOT RELATED to this article. |
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