| William A. Roper, Jr. |
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Reply with quote | #176 |
~beenwhile has an interesting suggestion in couching the resolution as a safety or loss mitigation matter. I would NOT be inclined to send such a letter to such a wide distribution, but I think that a couple of WELL WRITTEN LETTERS showing that failure to rectify the damage might lead to further DAMAGE to the subject property, might cause the property to be out of compliance with the fire code or some safety or occupancy codes, etc., or otherwise imperil the occupants might be interesting.
But this is a rather delicate TIGHTROPE. The borrower makes certain covenants within the mortgage, deed of trust and/or mortgage security instrument with respect to maintaining the security property. The BORROWER MIGHT EVEN HAVE A DUTY to make the repairs without respect to the insurance proceeds and failure to do so might constitute a BREACH of the promissory note and/or mortgage, deed of trust and/or security instrument.
But the servicer owes the mortgage investor a fiduciary duty to preserve the value of the security for the promissory note. Frankly, it would seem to me to be in the interests of the investor to see that the repairs are made.
A well written letter that seems to SET THE SERVICER UP FOR CONSEQUENTIAL DAMAGES might be effective!
BUT I WOULD VERY CAREFULLY READ THE PROMISSSORY NOTE AND MORTGAGE, DEED OF TRUST AND/OR MORTGAGE SECURITY INSTRUMENT SEVERAL TIMES FIRST. I WOULD ASK OTHERS TO PROOFREAD MY LETTER FOR REASONABLENESS AND DIPLOMACY. AND I WOULD SHOW THE LETTER TO AN ATTORNEY AND ASK HIM FOR SOME ASSURANCE THAT IT IS OK.
Bear in mind that your letters should be written as if you EXPECT it to be read by a Judge and Jury. THEY are the ultimate AUDIENCE for the letter. If done well, this will be readily apparent to the servicer and MIGHT help motivate teh servicer to do the RIGHT THING. In any case, well written letters might prove to be valuable evidence in subsequent litigation to show that you TRIED to resolve the matter amicably!
I think that the larger distribution of the letter suggested by ~beenwhile actually UNDERMINES the credibility of the letter. It suggests that you do NOT know what to do next. A well written letter, cced to a smaller constituency, possibly even a friendly lawyer who is NOT YET representing you, but who has agreed to look at the letter may very well look more intimidating.
In any case, I would send such a letter certified mail. I would wait three weeks and send a follow-up letter.
I have found that SAFETY related messages can be particularly effective. When alerted to a SAFETY hazard, the person or entity that fails to act really leaves themselves EXPOSED when a peril causes contemplated damage. But similarly, LOSS MITIGATION is also pretty compelling motivator. You WANT to mitigate the losses, but are unable to do so due to the defalcation or misappropriation of the insurance proceeds.
Best off luck! I LIKE ~beenwhile's idea generally. I differ only somewhat in tone and implementation.
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| CJBHarper |
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Reply with quote | #177 |
I have read for several hours messages re SAXON MORTGAGES practices and the lives who are being ruined and will continue to be ruined unless they are
brought to a stop. I was foreclosed on in 2005 for failure to pay although
I called my payment in and have a confirmation number.
I am represented by an attorney and we are presently preparing for a trial which has been granted by our court system. SAXON is contesting it bitterly. Mediation has been ordered by the Judge but SAXON refused to
comply and now a compel has been ordered by the Judge as of December,
2007.
TO ALL OF YOU OUT THERE === I have begun a campaign to do anything
in my power with resources available to all of you to STOP THIS COMPANY
AS SOON AS POSSIBLE. There is strength in numbers if it is organized and
not attempted on a one on one basis.
I don't know who WILLIAM ROPER, JR. is but his information is very true.
If any of you are interested please e=mail me and I will update you on the
information I have obtained as to the means WE
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| CJBHarper |
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Reply with quote | #178 |
MESSAGE CONTINUED -- MY ERROR IN POSTING TO SOON.......
-----the things WE can accomplish TOGETHER, NOT ALONE.
I ASK YOU TO PLEASE LETS ORGANIZE NOW ------
MY CRUSADE HAS BEGUN AND I KNOW THE PLACES TO GO......
HOPE YOU WILL BE BRAVE ENOUGH TO JOIN ME.......
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| LARRY |
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Reply with quote | #179 |
I HAVE HAD AQ LOAN FOR ABOUT THREE YEARS I HAVE NOT MADE A PAYMENT FOR THE LAST 1YR AND HALF IT LIKE THEY HAVE FORGOTTEN MY LOAN. MY LOAN WAS SOLD TO THE I FILED BANKRUPTCY. AND STILL MADE PAYMENT TO THEM THEY DID NOT LET ME KNOW ABOUT THE INTEREST INCREASE TILL AFTER IT WAS INCRESED WHICH VIOLATES MY CONTRACT. THEY STILL HAVE NOT STARTED FORECLOSURE ON MY HOUSE. IS THERE ANYTHING I CAN DO. THAY ALSO REFUSE PAYMENT ONCE I GOT SO FAR BEHIND |
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| P. Stew |
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Reply with quote | #180 |
These posts are all so sad. One week after a requested loan modification packet had not been received, I called Saxon and had one emailed to me, with a letter requesting that I attach a letter concerning the hardship that had caused me to be delinquent. I was not yet delinquent, but I did attach a letter concerning my request and explaining my situation. I faxed the documents with a transmittal cover sheet requesting that someone call me to confirm receipt of the documents. Yeah right, like that was going to happen. One week later I called and was told that the documents had been received and my account was being handled by one person, and not even 2 hours later, something told me to call back, and sure enough, I was told by someone else that my account was being handled by someone of another name. This made me curious so I googled up some drama on them and here we all are.
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| noodles |
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Reply with quote | #181 |
P. Stew,
Welcome to msfraud, (I'm just a poster) but nonetheless, you've found the right place to help you fight for your home and family.
It's always sad for me to hear of yet another family being victimized, but this is an excellent site for you to gather information, & to learn from. If you have questions just ask, and people will begin to chime in.
Wishing you well,
noodles
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| noodles |
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Reply with quote | #182 |
Larry,
Gosh you made this post a while ago, it must have gotten bumped to page 2 or 3. In hopes that you're still hanging around the web site, we really need more information.
Quote: Originally Posted by LARRY
I HAVE HAD AQ LOAN FOR ABOUT THREE YEARS I HAVE NOT MADE A PAYMENT FOR THE LAST 1YR AND HALF IT LIKE THEY HAVE FORGOTTEN MY LOAN. MY LOAN WAS SOLD TO THE I FILED BANKRUPTCY. AND STILL MADE PAYMENT TO THEM THEY DID NOT LET ME KNOW ABOUT THE INTEREST INCREASE TILL AFTER IT WAS INCRESED WHICH VIOLATES MY CONTRACT. THEY STILL HAVE NOT STARTED FORECLOSURE ON MY HOUSE. IS THERE ANYTHING I CAN DO. THAY ALSO REFUSE PAYMENT ONCE I GOT SO FAR BEHIND
In trying to determine a few things. First we need to know the following:
1. Was this a "new" home to you when you took out the loan 3 years ago?
OR
2. Was this a home you had previously lived in, for many years, and then took out a loan, or another loan?
I ask this due to the "equity" you might or might not have involved in this home.
If, this was a brand new home to you when you took out the loan 3 years ago, then there is not much equity in the home, and because of this you would have several options available to you.
On the other hand if this was a child hood home, or you've been living there for years before you took out the loan 3 years ago. Then you've got much more to lose, and some other steps might need to be taken to further protect your interest in the home.
Can't really provide much help for you without knowing more details.
Hope you're still around to answer.
Best of luck to you
noodles
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| Way To Go |
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Reply with quote | #183 |
This is but another example of how the servicers are not equipped to handle the crises that is upon us. The borrower reached out for help before default and the request for a modification fell on deaf ears or fell through the cracks. The sad part is that a modification in this case would benefit the borrower and the investor who owns the pool that contains the loan. |
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| Rodney |
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Reply with quote | #184 |
RE: Saxxon Mortgage
I am wondering if anyone else has run into this.
I have been unemployed for a while and yet we are only 1 payment behind.
I recieved a call from Saxxon threatening to foreclose if I do not come up with my past payment that they will start foreclosure.
Whatever happened to working with the borrowers who are trying but have fallen a little behind. I am now employed.
Any feedback?
Thank you
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| Becky |
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Reply with quote | #185 |
I have been reading all of the comments and copying and pasting like crazy. Their are a lot of good ideas flowing here for a resolution. Looks like we all have SAXON mortgage company in common. If anyone is still pursuing a lawsuit we would like to join in. My email is becwms40@yahoo.com . Email me to start the ball rolling and I will help you with all the information I have.
I just filed a complaint with our congressman in Louisiana. The Better Business Bureau and the Attorney General. Looking into filing one with the Texas Department of Savings and Mortgage Lending-since they can pull the plug on SAXON. Saxon is based out of Fort Worth now. Their address if interested is 4708 Mercantile Dr N, Ft Worth, TX 76137.
Our mortgage was transferred to Saxon on November 1, 2007. We had only received one statement from them dated November 5, 2007. We contacted them by phone in December, asking why we never received a statement yet and what our payment was going to be. Also asked them about the ADJ rate freeze. They told us not to worry, the note wouldn't go up until March or April of 2008. We did not receive a statement in January 2008, so we mailed in our regular payment. Around the 19th we get a letter from our mortgage insurance that they were going to cancel our policy, due to non-payment. We explained to the insurance company the problem with Saxon and they said they would handle it. We contacted Saxon and they told us we owed over $4000.00 for two months notes and late fees. They are holding our mortgage check and will not process until they receive all the money first.
They want January's payment with late fees and February's payment before or on the 1st of February. According to paper work we have until the 16th before it is considered late. Boy what jerks!
I plan on documenting everything and keeping the envelopes they send the statements in. We finally got a statement for January's payment, but it was dated January 7, 2008 and the post mark on the envelope has January 23rd. They think they are so smart, boy they are tangling with someone who has done taxes for over 15 years and real estate for 2 years. I know how to look for things and keep all my paperwork.
I have been busy since, seeing who I can contact about this mortgage company from HELL.... I learned that the Texas Dept of Savings and Mortgage Lending handles complaints about mortgage brokers and the like. They will investigate your complaint and have a right to basically pull the plug on this mortgage company. You would have to email or write to Ren Crochet in Consumer Complaint Resolution. rcrochet@sml.state.tx.us
The address is 2601 North Lamar, Suite 201
Austin, TX 78705
I figure the more of us that writes or emails Ren to tell them about the dealings of Saxon, the more chances they will investigate and put them out of business. Whatever it takes- WE need to stand together to get businesses like this out of business. Let me know if I can help anyone with any further info I find.
Becky
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| JP |
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Reply with quote | #186 |
We are trying to give the house back because, Saxton refuse to take any of our payment even in portions. They want the whole thing now. So we had our contact call them to take the house back and they refused. What are we suppose to do wait until they decide to kick us out. This was our first house. I had to have surgery so I was out on medical leave for two and a half months so we fell behind on our mortgage. We asked if they could push our late payments to the end of the mortgage they said we don't do that. Instead they wanted us to pay double the amount every month. Ah hello we do have other bills too but, they did not care. So because they refused to take a regular payment our mortgage is now almost eight months behind. I hate our old mortgage lender for selling our mortgage contract to them. |
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| Derrick Howard |
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Reply with quote | #188 |
I am an attorney in Philadelphia, Pennsylvania. I am currently representing other individuals in claims involving Saxon. I am interested in discussing representation of other individuals who have experienced similar problems concerning Saxon's handling of the individuals' mortgages. I am particularly interested with individuals in the Northern, Midwest and Southern regions of the country. If you would like to discuss your issues with me, please do so by contacting me at my email address - DerrickHowardEsquire@comcast.net. When responding to this thread please let me know from what company your mortgage was sold; if Saxon was the purchaser of the mortgage or merely the servicer; if you received notice that your mortgage was sold from the seller to Saxon (if applicable), and a letter from Saxon regarding the purchase; when were you first billed for mortgage payments by Saxon; how much and did it include late charges; what other questionable treatment your received from Saxon; if you are currently in any litigation concerning this matter; and the current status of your interest in the property. Thank you. |
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| Becky |
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Reply with quote | #189 |
Hey, I just found this on the web and was told by someone from a mortgage company that the FBI is investigating 14 mortgage companies, mostly those with subprime loans-maybe Saxon is one. I am going to copy and paste the info here for you to read. Who's in the FBI's Crosshairs? |
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| P. Stew |
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Reply with quote | #190 |
After leaving about 10 messages over time, I was just told that you may request a 24 hour call back. Amazing. Let's see if I get that call back. I also just came across this online. Has anyone heard of these folks? If so, any insight would be helpful. I think I'll be giving them a call as well, unless I hear that its also just a sham.
Are you a Victim of Deceptive Predatory Mortgage Lending Practices?  CLICK HERE to find out if you may be eligible for a monetary refund of Hundreds to Thousands of Dollars!
Welcome to our Advisory Group Web-Site. Our goal is to protect consumers from being cheated or taken advantage of by predatory mortgage brokers, bankers and lenders. Homeowners are being victimized all over the country by Predatory/Sub-Prime Mortgage Lenders and Banks not acting in regulatory compliance, charging excessive loan fees to borrowers, and in many cases utilizing Fraudulent Abusive Deceptive Lending Practices.
If you suspect that you may be a victim, paid excessive fees or were taken advantage of by your Lender, our compliance experts will help you get a REFUND of your "Hard Earned Dollars".
We will review your mortgage documentation and submit on your behalf a qualified written request/report of our findings to your Lender. This report will detail all mortgage related issues found in the review process. The Lender will have 20 days per the Real Estate Settlement Procedures Act (RESPA) to respond to the written request and 60 days to settle this matter. In the event the Lender does not act within the timeframe's listed above, we will file on your behalf "Documented Mortgage Complaints" to all appropriate local, state and federal regulatory agencies. Our mission is to help protect the “American Dream of Home Ownership”, we offer a no obligation, free initial consultation to homeowners. We welcome the opportunity to talk with you and to discuss how we may assist in getting you a potential refund. Please take a minute to click on our links, detailing our professional services. Call Today! 800-529-7184
Our Experts will Help You - Get a Refund of your “Hard Earned Dollars”. |
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| JP |
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Reply with quote | #191 |
MY HUSBAND CALLED THE 800 # AND THEY SAID THAT THEY COULD NOT HELP US BECAUSE OUR MORTAGE WAS NOT A SUB-PRIME.
THIS IS OUR FIRST TIME BUYING A HOUSE AND EVERYONE WE TALKED TO ABOUT OUR SITUATION NO CAN HELP US.
WE HAVE FOUND A HOUSE TO RENT DUE TO THE SAXON ISSUE.
BUYING YOUR FIRST HOUSE SUPPOSE TO BE A HAPPY THING. NOT EVEN CLOSE
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| Becky |
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Reply with quote | #192 |
Here is the most recent information I found out about Saxon. They also laid off 140 employees in Florida. I was also told the US Attorney General is looking into Saxon. Hope this information helps some people. We are looking into refinancing our house, if not we will have to sell. BeckySaxon Mortgage (Wholesale) - Wholesale & Correspondent2008-02-13 stories: reuters.com, google.com, bloomberg.com, yahoo.com, nytimes.com In a conference call today Morgan Stanley's Saxon Mortgage, once the 'King of Subprime' has left the building. The shutdown was leaked the previous week (see below). From one of the first emails we received today: "Saxon has "exited third party originations" as of today." We heard they told everyone to pack up their desks that today is their last day. In another email from an employee, "They did give everyone a box at least." In a report from Reuters entitled "Morgan Stanley slashes mortgage business:" "Morgan Stanley (MS.N: Quote, Profile, Research) on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans." Click here (pdf) for the official announcement. We'll keep you updated throughout the day as news comes in... there's supposed to be another conference call at 12:30 pm (EST) to discuss severance packages. If you can provide us with more details, please email us. The most recent Forum discussions can be found here. From the Ailing/Watch List Update -- 2008-02-06: In an email received today: "...Saxon plans to close next Wednesday but that he's supposed to "keep quiet" until then." Next Wednesday is February 13th. We are working on verifying this, and will report back as soon as possible if this is right or wrong... hopefully before Wednesday. Worth watching we think. Original Post -- 2008-02-05: Will Morgan Stanley's Saxon Mortgage Inc. become a Wholesale conforming lender, or just another statistic? As of today, their web site still shows rates (.pdf) and program highlights (.pdf) for their now drastically reduced product offering, but are they open for business? Yes... barely. According to one AE we spoke to, there are around 65 AE's left, split between three regional offices (Saxon laid off about 200 employees in October when it closed its western Henrico County headquarters operations). While there are plans to expand the current conforming product offerings to include MyCommunity and Flex 100, as well as FHA, roll-out of these programs aren't expected until sometime in March. Until then, they are "hunkered down" to try and survive. From a source: "Things are eerily quiet, no update from management about the reported upcoming layoffs, and they've priced us completely out of the market. The rumor is that they will close us down this week." Market volatility, volume and product reductions aren't the only problems Saxon's been having. There are no less than 34 outstanding civil suits pending in courts around the country (according to PACER records), and an investigation for possible FLSA (Fair Labor Standards Act) violations for overtime pay complaints posted here. In a number of emails, we've been told November volume was only around 40 loans, and December's was less than $2 million. One tipster wrote: "Management is actively encouraging AE's to resign... it's not a pretty picture." According to their Annual Report dated 2008-01-29, Morgan Stanley saw losses of 9.4 billion associated with "mortgage-related writedowns resulting from an unfavorable subprime mortgage-related trading strategy and the continued deterioration and lack of market liquidity for subprime and other mortgage-related instruments." Ironically, just a month prior, in a NY Times article dated 2007-11-07, it was estimated that parent Morgan Stanley would only see a write-down of between $2 and $4 billion for the 4th quarter 2007. Compare those figures to Morgan Stanley acquiring Saxon Capital for $706 Million. "While Morgan Stanley joined the Wall Street rush into underwriting pools of securities tied to subprime mortgages, or collateralized debt obligations, in 2006 and 2007, it ranked far behind market leaders Merrill Lynch and Citigroup. Accordingly, the view has been that Morgan Stanley would not experience as big a loss. But it did get swept up in the fervor, paying $700 million in late 2006 for Saxon, a subprime mortgage underwriter so it could gain access to subprime mortgages and repackage them into complex investment vehicles." Saxon has been cutting back on it's Wholesale programs for some time now. They announced (.pdf) to Brokers the "temporary" discontinuation of their non-prime products, ScorePlus and ScorePlus2, on 2007-11-15 - right on the tails of a 2008-11-05 announcement (.pdf) that they would be expanding their conforming product offerings. Per one tipster, "the western division office did a whopping $2MM in subprime in September." They had previously closed down their retail and correspondent channels earlier last year. If you can provide us with more details, please email us. The most recent Forum discussion can be found here. permalink to this record |
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| P. Stew |
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Reply with quote | #193 |
After requesting at least 4 twenty four hour calls back to my cell, only to have Saxon call my home every single time, I decided to call the 800-529-7184. They have several complaints filed against Saxon. Saxon will call every number but the one you instruct them to call. Hmmm, wonder why?
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| Becky |
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Reply with quote | #194 |
Here is some information about the US Attorney Generals Office-Hope this helps with more information for people. Becky (504) 247-4149 (cell)
Also email me: becwms40@yahoo.com
All numbers begin with Area Code (202) unless otherwise noted
OFFICE OF THE ATTORNEY GENERAL (OAG) Attorney General, Michael B. Mukasey, 514-2001
Top of Page
OFFICE OF THE DEPUTY ATTORNEY GENERAL (ODAG) Deputy Attorney General, (Acting) Craig S. Morford, 514-2101
Top of Page
OFFICE OF THE ASSOCIATE ATTORNEY GENERAL (OASG) Associate Attorney General (Acting), Gregory Katsas, 514-9500
Top of Page ANTITRUST DIVISION (ATR) Assistant Attorney General, 514-2401
Director of Operations, 514-3544
Director of Criminal Enforcement, 514-3543
Economics Director of Enforcement, 514-6994
Top of Page BUREAU OF ALCOHOL, TOBACCO, FIREARMS, AND EXPLOSIVES (ATF)
Director, 648-8700
Deputy Director, 648-8710
Office of Public Affairs, 648-8500
Office of Legislative Affairs, 648-8510
Top of Page
CIVIL DIVISION (Civil) Assistant Attorney General, 514-3301
Senior Counsel, 514-5421
Civil Fraud, 305-2335
Corporate/Financial Litigation, 514-7450
Foreign Litigation, 514-7455
Intellectual Property, 514-7223
The National Courts, 514-7300
Appellate Staff, 514-3311
Federal Programs Branch Director, 514-3354
Aviation & Admiralty, 616-4000
Constitutional & Specialized Tort Litigation, 616-4140
Environmental Tort Litigation, 616-4200
Federal Tort Claims Act, 616-4400
Tobacco Litigation, 616-8280
Office of Immigration Litigation, 616-4852
Office of Consumer Litigation, 307-3009
Office of Management Programs, 514-4552 Top of Page CIVIL RIGHTS DIVISION (CRT) Assistant Attorney General, 514-2151
Executive Officer, 514-4224
Appellate Section, 514-2195
Coordination and Review Section, 307-2222
Criminal Section, 514-3204
Disability Rights Section, 307-2227
Educational Opportunities Section, 514-4092
Employment Litigation Section, 514-3831
Housing and Civil Enforcement Section, 514-4713  Call them
Office of Special Counsel for Immigration Related Unfair Employment Practices, Special Counsel, 616-5528
Special Litigation Section, 514-6255
Voting Section, 307-2767
Office of Complaint Adjudication, Complaint Adjudication Officer, 514-0545
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| ChuckT |
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Reply with quote | #195 |
The more I read about saxon mortgage, the more I want them to go under. I've never, ever read as many stories about a deceitful company like saxon. My wife and I are currently in a battle with them, and it's just started today. We've mailed the AG, a new real estate atty, our local AG, and anyone else we can think of. We live in the Boston area, and if anyone else is thinking about a class action lawsuit against this company, or if there is one already pending, please let me know.
I won't get into all the details of our dealings with saxon, but they mirror alot of the other victims here. I do have one question, due to all the inconsistencies, with our billing, and NEVER being able to get a written itemized billing statement, we are not going to give them another dime. I don't know if that's a good idea or not, but they are returning the partial payments anyway, so what's the point in paying them at all now that we are pursuing legal action against them?
I truly hope everyone here gets their issues resolved to their satisfaction, and never have to deal with a company like saxon again.
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| drea |
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Reply with quote | #196 |
I have been reading posts on this site for a while and have been to shy to post. You all seem to be very intelligent. I am of simple words.
Our mortgage is being serviced by Saxon. It was transferred from NovaStar. We have been in our home for 19 years.
Brief history on NovaStar. Loan originated in 2005. Adjustable 2/28. Starting rate 5.85. Jumped up 3 points in 2007. 1 point every 6 months there after. Highest it can go 12.5. Now at 9.85. Began having difficulties. Had lates Oct, Nov, Dec 2006. Paid 6185.19 via wire transfer on Dec 30 after speaking with a NovaStar rep who stated payment would go directly into NovaStars bank, Wachovia and bring us current. Got foreclosure notice shortly after. Called NovaStar to ask where payment was. Rep did not know. Was transferred to litigation. Spoke with a woman named Jennifer. She did not know where payment was. Called again a few days later. Payment placed in suspense account. Nova wants 4123.86 by Feb 28 plus legal fees, late fees demand fee added to our already high payment making it more difficult to pay (2961.05) We believe this could have been avoided as first rep said the Dec payments would bring us current. We looked over our loan docs and think we may have a TILA violation. 129 (B). If we understand correctly, the maximum amount payment loan can go up to is suppose to be disclosed. Can't find that in docs.
Mortgage transfers to Saxon Nov 2007. Received temporary coupon. Payed what was on coupon the 9th of Nov via Western Union. Called Saxon 11/20. Spoke to Heidi. Payment not applied according to Heidi. She said we owe 214.70 in escrow. Payed the 214.70. She also said we owed a fee of 522.18. Questioned that fee. Her answer was she did not know what it was. It rolled over from Nova. Was not on our Dec coupon but shows up on January as OTHER. Dec 5th called Saxon asked about 522.18 fee. Rep Bob says it maybe a Brokers Opinion Fee?? Dec 17 called Saxon to see if our Dec payment was posted that was sent out Western Union on Dec 13th. Payment not showing as received. According to rep Randy when it is receive with conformation # it will be applied. Dec 18th called Western Union spoke to a rep. Explained that Saxon said they did not receive our Western Union from the 13th. The rep there said it was sent and received same day and gave us a sequence #. She said if Saxon still says they have not received it to call her back. Called Saxon the night of the 18th. Got a rep named (Que)? Payment still not posted. Gave Que sequence # and got put on hold several times. Que comes back to phone and says they have the payment but it has not transferred to the system. Dec 22nd, call Saxon again. Payment form the 13th is finally applied on the 19th. Had we not called Western Union and got that sequence # who knows when that payment would of finally turned up. Still have not gotten an answer on the 522.18 fee. Sent QWR to Saxon. Our response from them was a payment history with codes we have no clue about. They also said they could not comment on the decisions with NovaStar and their transactions. NovaStar has been sent a QWR.
We are trying to refi with NACA. We are late again. Don't want to deal with Saxon after reading all the stories here and on other sites. Very frustrating.
Saxon does not want to help people until they are 90 days late. That' messed up. Would like to complain to the US Atty General. Have written to Sen. Lieberman, Sen Dodd our Atty General and Governor. Conn foreclosure filings are up 100% since July of 2006. It is sickening. Sorry this is long even with short choppy sentences. Hope NACA can help. Any insight?
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| Ann Holden |
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Reply with quote | #197 |
I won't get into all the details of our dealings with saxon, but they mirror alot of the other victims here. I do have one question, due to all the inconsistencies, with our billing, and NEVER being able to get a written itemized billing statement, we are not going to give them another dime. I don't know if that's a good idea or not, but they are returning the partial payments anyway, so what's the point in paying them at all now that we are pursuing legal action against them?
You might want to set up a separate bank account to put your mortgage payments in, (just in case someone asks you to verify that you CAN make monthly mortgage payments.)
If nothing else, you can use those funds for litigation, and/or moving expenses.
JMHO, (just my humble opinion) of course.
CYOA (cover your own ass) AT ALL TIMES.
Ann
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| Karen Johnson |
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Reply with quote | #198 |
Me and my husband are having trouble with Saxon also. Just got sold to them in Jan. 08. Payment has went up $500.00 Any suggestions? |
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| Peter |
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Reply with quote | #199 |
We bought a home with an ARM, which was subsequently sold to Saxon. We refinanced our ARM with another company. Saxon received the payoff, yet several days later attempted to debit another monthly payment from our account. This debit was authorized by us out of necessity. We had to make a payment to avoid a 30 day late report on our credit that would have jeopardized out ability to refinance the home. Saxon would not (refused to) accept the payment unless we set up a payment for the following month. The refused our legal tender on our debt obligation to them. (This was not the first time they did this. On previous occasions, we told them that we could not give them a definite date, they refused payment, and reported us to the credit bureaus.) When they attempted to take out money, to which they were no longer entitled as they had already received a payoff check, we did not have sufficient funds in our account. We were not anticipating making a payment on a mortgage that had been paid off. When we called them, they said there was nothing they could do and that they would attempt a second automatically - even though they had been paid off. We insisted that they not make a second attempt as they were not entitled to the money. They refused and tried again. They took all of our available funds, leaving us $800 in the negative in our account and with $400 in NSF fees. They are not cooperating in returning this money to us. One representative told us that they could neither electronically transfer nor overnight the payment to us. A second representative said that they COULD overnight the payment, but required us to provide them with a bank statement that our bank will not generate until the end of this week. Meanwhile, my money sits in their account. This is money I need to pay utilities bills and feed my family. I am going to lose phone service this week due to my inability to access my money. |
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| TaraBear029 |
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Reply with quote | #200 |
I too have my mortgage with saxon and I have one suggestion for you. Call the loss mitigation department, its a separate number from the regular customer service number. The people there were very helpful with us. We fell behind and they came up with a reasonable payment plan for us. We also talked to a nice lady there yesterday about our interest rate and within 24 hours we had a financial packet in our hands. It all depends on who you talk to. But if you are behind, call loss mitigation. I have not yet talked to a mean, rude, or incompetent person.
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| don't be fooled |
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Reply with quote | #201 |
Come back and see us when the "bad cop" enters the picture.....you've only seen one side of this two faced beast.
They will beat your brains out with a club while smiling in your face....beware!
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| Aimee |
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Reply with quote | #202 |
Yes, beware. Ms. Herndon did the paperwork for our loan modification with Saxon Mortgage. She seemed nice and helpful. We signed the modification so we could stay in the home we built from the ground up and had lived in for 10 years. In the end it also was an agreement set up to fail. Don't trust them. Hire an attorney while you can...refinance while you can. We lost $80K to $100K in equity. If there isn't much equity in your house they might work with you. If you have equity in your house, they will do everything they can to steal your home from you. |
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| DeeDee |
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Reply with quote | #203 |
WE have had similar experiences w Saxon ourselves. Our nightmare began in dec 05 this is when I was put off work for complicated pregnancy i had paid dec paymnts and was waiting for wrk com to kick in. Which was to little to late. I called saxon each week along with my student loan lender to let know that i haven't rvd paymnt yet. By the time that i had $ for the mrgt paymnt they refused to accept it saying that acct even though was just turning 2 months behind was in foreclosure for non paymnt. I had to pay over 3800 to get Put on a repay plan for 1800 for the next 6 months, at the end of which was told the arrangement that had been signed by both saxon and myself that they had miss calculated the terms on the repay plan and had to pay this amnt for another 3 months. This put such a burden on us that I was unable to repay the students loans timely which in result they waged garnished me which put an even further pinch on us. We are still having issues w Saxon they still are claiming 2g worth of late fees that are unpd and 3g in other fees still that have never been explained despite numerous calls and letters ask for an explanation. We are unable to refi w anyone now our scores are to low. We are desperate to get away from this company that was never a choice of our own. |
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| Mike E. |
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Reply with quote | #204 |
My family and I are also experiencing the nightmare that is Saxon Mortgage. I have remained in constant contact with the company. Each time I call, I am directed to a new person even if I ask for the previous rep by name. I have documented all calls since this began. I have filed a complaint with the Department of Corporations in CA. The information on this site is great. I am interested in joining others in this fight. Please contact me if you would like to compare notes. Mike D-you seem very well advised. I would like to communicate with you in more detail outside of the public forum. |
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| Mike E. |
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Reply with quote | #206 |
Does anyone have information on the corporate officers for this company. I am starting my letter writing compaign and cannot find the contact information for those in charge. Any help is appreciated. |
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Reply with quote | #207 |
David Dill is the President. But all that will happen is it will be handed off to some administrative clerk to be taken to customer service. Google RESPA and see the HUD site for Qualified Written Request letters and where they should go.
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| Scott |
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Reply with quote | #208 |
Hello everyone. I have spent the last 6 hours researching and reading the issues everyone has had with Saxon. Saxon bought my loan from New Century as a result of the NC bankruptcy. In August of '07 I took a new job 80 miles away. I immediately put my house up for sale with the intent to relocate closer to my office. With the recent downturn of the Real Estate market, the rising cost of gas (spending about $250 a week commuting), and unexpected medical bills from knee surgery, I have exhausted my savings. As a result, I have been consistently late for the past few months, however I have not yet gone 30 days, until the 31st of this month.
I contacted Saxon yesterday and spoke with a rep. I explained to him my situation and asked if there was a way I could defer my March payment to the end of my Amortization Schedule. His response to me was that there was nothing I could do until I was in default (60 days).
I have spoken with a counselor who has offered me some advice. She basically said stop making the payments, leave the house on the market, let it go into default, attempt a short sale, or Deed In Lieu. I researched the DIL and am curious if anyone has any insight into accomplishing this with Saxon? The house is worth about $135k and I owe about 120k. I figure if/when I find a buyer, negotiate the price and commissions are paid, I'm breaking even, so making money is not a consideration. But is my scenario looked on more favorably by a lender as there is equity in the house?
I just want to find the quicket, least damaging way to rid myself of it.
One thing for sure, I'm going to go over all of my past bank and mortgage statements and check them for accuracy!
On another note, This morning I woke up and began researching Saxon in more depth and tried to identify some of the higher ups within the organization. I located an article on the Standard and Poors site. Stella Hess is an Executive VP of Saxon and she is explaining how Saxon is trying to improve loss mitigation. http://www2.standardandpoors.com/portal/site/sp/en/us/page.article/3,1,1,0,1148442756243.html.
Another, maybe more interesting read, is an internal pdf I located regarding the acquisition of Saxon by Morgan Stanley and initiatives and objectives. It has an org chart of Saxon senior management which might be helpful. It is dated January 2007, but may still have relevance. I have tried attaching it, but had some errors. If you would like to see it, feel free to email me at forsale_234carlisle@yahoo.com
Best Regards,
Scott
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| Payton |
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Reply with quote | #209 |
I am a Maryland borrower who is in the same predicament as most of you. I've seen this previous class action lawsuit and I presently have an attorney working through my mortgage. I am going to ask what would be necessary to file a class action in Maryland. Saxon is the work company I have ever seen. They've agreed to a restructure, lowered my rate and payment, but never sent me anything to sign to agree to the terms. I will not give up my home to them when they are wrong. Any parties wishing to join, please contact me. |
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| Traci Lloyd |
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Reply with quote | #210 |
They are extremely horrible dont be fooled, I am having much of the same isues with them as many of you are . I am now into my 4th month of default and still have not gotten any help eventhough I have sent them there financial packet back to them within 5 days as requested on the form. They have been nothing but rude,very uncaring , and helpless throughout my ordeal...If anyone has any suggestions of what I can do to actually get something done on my case it would be greatful..Oh let me say I do alot of work for them on there vacant foreclosure properties through my company,and it's a no wonder why they are vacant homes, the people probably got tired of getting no where with them and up and left!!! |
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