I have been in the modification process for 1 year now woth Saxon mortage. They sent me a modification agreement 6 months ago and I agreed to it. I signed it and gave them their requested “good faith” payment in the amount of $5000.00. I received my first statement with the incorrect amount to be paid on it. $1000.00 more then the negotiated amount.


After the confusion was all sorted out, it turned out to be what I thought was a SIMPLE error. The first page of the modification showed the correct information and the second page showed the INcorrect information. The numbers were simply transfered over wrong.

“Bad math” as you could say. It took the company I hired to do the modification months to get anybody at saxon to comprehend this. They finally acknowledged their mistake. I am not a skilled underwriter, I am not a math major, nor am I in the banking/loan business. The one thing I do have is, COMMON SENSE, something the people at Saxon Mortgage DO NOT HAVE!!!

I was told by saxon, that they could not just go FIX the mistake. It was already, as they call, “BOOKED” in the system and they cannot modify a modification. I was told that I had to re-apply for a modification all over again and that my good faith payment of $5000.00 was gone and I would not get it back.

At this point I wanted to tell them where they could take their house and where they could shove it.

But, on the other hand, I am not a quitter. And whats right is right and the numbers DO NOT LIE.

So, I applied all over again and waited and waited. I just received a denial letter stating, I was denied for the following reasons: “Lender does not do loan modifications”

OK, B.S!!! They have already gave me one, so how can they tell me that they do not do them. However, they told my modification company, that they denied it because they have already given me one!

Do they not understand that I do not WANT a NEW ONE? I JUST WANT THE ONE I SIGNED TO BE CORRECTED!!! ITS A TYPO FOR GOODNESS SAKE!!! CLEAR AS DAY. COMMON SENSE, BLACK AND WHITE TYPO!!!

So, at this point I am waiting for a “NOD” notice from the mailman. I have met with several real estate attorneys and they all have the same opioion as me.

It is their mistake and they are legally bound to fix it. However, it will cost me even more money to retain an attorney. Oh and did I mention, that the so called “good faith” payment of $5000.00 they required I pay and then told me that I would never get it back. IT WAS ILLEGAL!!!

Why in the world are these mortage companies allowed to mess with peoples lives like this and are NEVER held accountable. This is my home, this is my sons home. This house is my pride and joy. My own hard earned money has been poured in this home. This is a huge problem. But, unfortunatley, by the time the bank forecloses on someone, the owner is so emotionally exhausted that they just walk away and cut thier losses and the bank never faces any consequences.

THIS HAS TO STOP!!! I am not giving up and walking away from these “GREETY BASTARDS” I am going to fight for whats RIGHT and what I am LEAGALLY entitled to!

So I am encouraging EVERYBODY to do the same. If this website proves a possible way for a “class action” law suit to begin, so be it! I am ready to begin!”

Please email me with any information at [email protected]

Saxon is the worst ever. Our house has just been sold in action and we had no clue this happened until the owners came to my home and let me know this. I called Saxon and they still had me as the owner on the house and had no idea what had happened i was on hold for about half an hour until someone came on the phone to say" yes mam we see your home has been sold and u need to vacate the home asap. I was devastated and beside myself. This is wrong and something needs to be done. Oh and the closer is they say i need to request for the paper trail of my side. This is against the law.

If you want to get under Saxon's skin file a complaint with https://appsec.helpwithmybank.gov/olcc_form/intro.aspx file a complaint with Morgan Stanley they call the main office they will transfer you to someone who will take your complaint and investigate. The biggest way is to file a complaint with the Texas Fort Worth better business bureau and it is then given to Saxon to fix. I have give Saxon as much grief as they have given me. I have now been approved for a loan modification. And the head of the departments are talking to me not customer service anymore or an assigned agent.

Here are some questions to sen into a customer relations specialist via fax 817-665-7400
1. I would like an identification of each and every accounting and servicing system used.
2. All the debits and credits posted for this account.
3. When was the suspense account or unapplied account set up.
4. An explanation of all late fees/late charges added to this account from the inception to the present date.
5. All property inspection that have been conducted from the inception to the present date. The fees charged by each company performing and charging for each such inspection.
6. All broker price opinion fees that have been conducted on my property, the date of each, amount of any fees charged, who conducted the BPO and why.
7. All information of my escrow account, charges in taxes/insurance. All dates the fees were paid and withdrawn for the account.


I took these from a legal website and think this might be park of a forensic loan investigation.

I do not know if many of you know, but if you have a suspense account they can take out or charge any funds they want without ever telling you. So if you think you are sending an extra payment it goes into this account then the funds are spent anyway the company wants to spend them. You have to write specifically on the coupon where the money is to be placed. There is no such thing as a person entering your payment anymore it has to fit into a computer code if it does not it is put into a suspense account.
If I had never asked the mortgage company to do a payment transaction history against my canceled checks that I provided them I would have never found out.

Also if you are in bankruptcy I would do all the above because this company does not sent out statements during this time and you never see where your money is going or if you are paying the right amount. So watch them very closely. Remember they think we are dumb and they are just out for a profit.

And yes Saxon is a debt collector they dissolved their mortgage side a couple of years ago and combined it with the marketing side. The help we were getting was coming from non-customer mortgage help, but those in the business side. It has been a mess since then and their accounting stinks.
I hope this helps I want out of Saxon I have been fighting with them since 2005 maybe with enough complaint they will clean up their act or get caught for RESPA violations.

Received letters of late payments from Saxon. After calling customer service 6 times, found no resolution other than to tell me my payment was over 30 days late. Finally involved legal counsel, who obtained a payment history from Saxon. Upon review, with Saxon customer service on a conference call, Saxon had applied a total payment to escrow account, no reason given by Saxon. This caused that month's payment to be missing, thus causing each subsequent payment (for six months) to be applied to the previous month requirement.

Saxon customer service offers no remedy to erroneous report to the three credit agencies. My scores have plumeted, my rating is poor (6 months late on a mortgage). Am unable to get beyond customer service wall to get a resolution. I have the acknowledgement of their error witnessed by a third party, yet Saxon remains unable or unwilling to send a correction to the credit agencies. There is no one person who will assume responsibility for error on Saxon's part.

I’m not sure when the Deutsche Bank Trust Company purchased our loan via Saxon. That wasn’t who we thought we had a mortgage with. We signed with Saxon some years earlier and continued to make payments to them. But it was the Deutsche Bank that eventually used our laws with the help of Saxon, to throw our family out of the home our daughter was born in.

It started in the autumn of 2007 with a letter from Fairfax County for the property taxes. It had to be a mistake. Our mortgage company had always paid the taxes. But Saxon did not this year. After much discussion over the next two months, they finally paid Fairfax County. A year and a half later, Saxon would charge us penalties and interest because the taxes were paid late.

Then there came a letter that said they didn’t have proof of proper fire insurance. I called our insurance agent and had them fax over a copy of the insurance. I called back and was told everything was alright. The next month we received a letter that said since we didn’t have adequate insurance, Saxon had purchased fire insurance for us. The cost was $6, 000 a year and $500 a month was added to the mortgage.

I called my insurance agent once more who insisted the insurance would cover rebuilding the house from the ground up if need be. Our insurance agent said he would contact Saxon personally and straighten this out. I sent Saxon our original mortgage amount.

The following month the mortgage came once again at the higher amount. I called Saxon. And do you know what? The nice lady on the phone apologized. She said she had two faxes on file showing that we had proper insurance. She didn’t know what the problem was. She asked me if I had been late on my payments. I said “no” and asked what she had listed as payment dates. She looked and it matched with what I had and the amounts I had, but for some reason our account had been “flagged”.

After an absurd amount of phone calls, I thought this had been straightened out. And then the next month’s statement came at the same inflated amount. I paid the original amount and sent a letter of complaint along with insurance documentation.

In June of 2008, I got four certified letters delivered on the same day saying Saxon was foreclosing in less than a week because we hadn’t paid our mortgage. I flew to an attorney. The only measure he could employ to stop Saxon was to file Chapter 13. My husband was mortified and I was angry. How could this be happening?

Well happen it did. We went to court in August and then again in September. Saxon had piled penalties, attorney fees and now wanted our escrow account to maintain five years worth of taxes (see paragraph 2). Our mortgage jumped to over $8, 000 a month. And there buried in the fine print, Saxon and the Deutsche Bank Trust Company had the legal right to do it all. The Chapter 13 was denied.

I continued to fight this. The so-called negotiations continued with Saxon. Eighteen hours before the foreclosure with a representative of a federal mortgage agency on a conference call, Saxon offered to reduce the mortgage to just over $6, 000 a month if we could come up with $45, 000 right then. It was 5: 10 pm EST, game over.

We were plagued with their chosen real estate firm who threw offers over the fence into my rose bushes. They called and left messages on the answering machine my daughter could hear. Their absurd offer was maybe, possibly, we would get $5, 000 out of the deal. That is if we signed away all our rights to our home and hold them and Saxon harmless. Oh, and the real estate agent had to approve of the condition of the house. People who profit off the misfortune of others are no better than Turkey Buzzards. They look like something benign at first glace. Then they get greedy about stripping the last bit of flesh off of someone else’s kill and you see them as they really are.

The last court date, March 12, 2009, when I had one more chance to bring Deutsche Bank back for one more round or give it up, I stopped fighting. The commitment fee was past due for our daughter’s schooling. My choice, invest in her education or spend more money on attorneys who believed the current laws guaranteed a Saxon win.

The foreclosure had leaked in our neighborhood and some people were being less than kind. Almost two years of legal fees, the debilitating stress and the realization that we were just another faceless family thrown out of their home so a German bank, a Texas company and a Virginia real estate firm could make a quick buck was just too much.

America will survive this unregulated greed but not without deep scars. Is there anyone left who trusts our bankers or our mortgage brokers? It is ludicrous to think the same people who have charged 31 percent interest rates on credit cards or padded loans so they can hit-and-run actually whine that they need help from the government. What they need is a conscience with a good dose of remorse. But alas, that can’t be regulated.

Clifton, VA