Pissed Consumer - Saxon is a joke.

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Saxon is a joke.

Jul 25, 2008

Saxon Mortgage complaint by Four_labs

We are in the EXACT situation as most of you all. We have one ARM mortgage and a second mortgage. Our ARM ends in 2 months. We have been trying to work with Saxon because we have been told from multiple other companies this would be our best bet. Our house is of less value due to the housing market. Lost modification packets that I filled out, no logged calls from us, our calls being forwarded and forwarded and forwarded. HELP! Our credit is great yet no help. We are going to have to sell before we screw up our credit or foreclose!

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Comments (2)

1. Written by Dawn Schluter, on 27-07-2008 13:09

Hi, I am countering Saxon with Unfair trade practices! This will get to Morgan Stanley and they do no want this on court record for future cases to use against them. I am walking away from my house because of the same thing. They will bot respond! If you want to know what I have tried so you don't waste your time, write back and I will fill you in... Good luck! and keep your eyes open for a class action suit! We need to do somethig about this No Accountability in buisness Crap! Best of luck to all!

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2. Written by jpallen1977, on 25-07-2008 14:31

Saxon is no help at all. My Arm adjusted over 1 year ago. I am paying 12% on a $265,000 home that is only worth $180,000. I gave up. It is not that I can not afford the house, I just can not justify making the payment. My credit was the only thing that kept me paying the mortgage but that will only go so far. I have given up and stopped making payments. I now have about 6 months of free rent or $18,000 of mortgage payments that I will not have to pay, which ever way you look at it. The problem with Saxon is that they are a REIT that was purchased by Morgan Stanley in 2006. They have rules set in place that are not negotiable. They will not negotiate. They will however, cause serious and unnecessary stress and anguish on your family. Good luck.

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