I'm heartened to hear that the law is cracking down on Saxon Mortgage. But will relief come to the regular homeowner before a foreclosure sale? My mortgage was bought by this company and for two years I had a perfect payment record. In August 2008 they solicited me for a "fast track" loan modification in advance of a scheduled December 2008 ARM increase. And then disaster struck. I was hospitalized in September and again in October. I've talked with Saxon many many many times, completed reams of paperwork which they mysteriously have "no record of receipt". At least I Fed-ex'ed one set and have proof they did receive. From October to now, Saxon representatives have repeatedly told me to wait to send in payments because I would need the money for closing costs for the loan modification. As I became increasingly nervous with the situation I did send payments but last month when I went to submit a monthly payment, they WOULD NOT ACCEPT PARTIAL PAYMENT and the full payment was the full delinquency. I've spoken with other mortgage companies and discovered that by following Saxon's instructions, the result is that I am effectively locked out of the mortgage market and will find it near impossible to secure any refinancing.
I'll be spending my week contacting HUD, 1-888-995-HOPE, Missouri and Texas Attorney General's and every other legal avenue I can think of. I'm hoping a class action suit will be filed promptly against Saxon Mortgage as perpetrators of LOAN MODIFICATION SCAMS and FRAUD so I can participate. I did everything Saxon Mortgage instructed me to do, but it seems their intent was to force the property into foreclosure. I just bet they have some other company waiting to scoot in and scoop up properties at the expense of Main Street Americans.

well i have had it with saxon mortgage. they are going to sit on this house for ever!!!when i first bought it i payed 160, 000.00 for this house and that was 8 years ago...2 years ago it was appraised for 270, 000.00 today it is worth 91, 000.00 with tons of upgrades :( how sad i let them know that my boyfriend is unemployed now cause there is no work here in las vegas. he went from owning an undergroung utility and plumbing company and now there is no work. well now they shut down city center that employed apx15, 000 employees and they are now at a stand still the unemployment rate is now at 10% not including the people they just laid off...
what are hard working people like us supposed to do with no JOBS!!! they have the upper hand cause they all have jobs. and every time i call i sing in my head "were working 9 to 5" and when they pick up the phone all i hear is mumbling babbling idiots tell me how irresponsible we are and that we don't make enough for the loan modification!!! wtf. somethings i just may understand i am going to call MORGAN STANLY and see is they mumble the same tune I'M SICK OF IT ALL WE WANT IS JUST A LITTLE HELP AND I'M NOT SPEAKING FOR JUST MY HOUSEHOLD I'M SPEAKING FOR ALL OF THE HARD WORKING AMERICANS WHO NEED HELP!!! I'M SCARED TO MOVE TO A NEW HOUSE CAUSE EVERYTHING IS NOW IN FORCLOSURE...

I WONDER IF THEY CARE IF WE HAVE FAMILY TO SUPPORT!!! PROBABLY NOT!!!

I can't believe this mortgage company they won't modify my mortgage because I already had it modified before they are willing to give me repayment plan 2 times more then my current monthly payment can you believe that !!! I am single dad of 3 children I have fallen behind like everyone else because there is no work I work in the construction field I asked about the new law that the president signed and they said that is only foe Fannie mai or Freedie mack clients is that TRUE ? I can not believe that they are willing to goto forclosure and loose lots of money instead of modifing my loan or giving me reasonable repayment plan I do not recommend this company they are the worse in customer service and they lack in understanding there customers.

I have been trying to get a loan modification since oct.2008. I have faxed my financial packet four times. In Nov. I was told it was assigned but I could never speak with the person taking care of it. In dec. I was told it was lost. Now we are in Feb of 2009 and nothing has happened. I guess they would rather have my home back, then receive lower payments and all their money back that was borrowed. Every time I call, I'm given a new story half of the homes in my city are for sale. Good luck selling mine.

I have been trying to do a loan modification with Saxon Mortgage since May 2008 when my husband lost his Job. I was never late in my payment. I didn’t want to face with any late payment & late fees, I was denied because I was current in my payment with both of my loans. FIRST OF ALL, they did not even call I had to keep calling them every day. That’s when I was told it was denied...then I explained the situations. they told me to complete another stupid financial statement n July they told it will take up to 2 to 3 months to processed & It has been assigned to Jeffrey Aldridge. I kept calling him every week instead off every other day because I know; I was not the only homeowner he was working. I left him lots of messages...he finally called me third week of November of 2008. I was told that I was approved for the bigger loan but the other loan was not, and the package will be mail to me. Then he told me pay the other loan. They will nit accept partial pmt. I was still paying the bigger loan not the other one. I finally recd the package, then I went to a loan counselor with HUD. She told that i will still end up making the same payment. i was told not to make any pmt until loan modification recd & processed per Jeffrey Aldridge. So, i did not make any pmts since October 2008. I send the package back to them on Dec 11th 2008 with detail rejection letter explaining to work out a better loan for me. I didn’t sign their package. I kept calling them, they kept saying that they recd a signed package but with no deposit. I told them that I did not sign any package. I just received a letter from them stating that they are going to proceed with foreclosure.