A Dallas homeowner said: “I am also a victim of Saxon. Last year went through workout with them, 12k down. They lost my loan docs. 67 phone calls later and still nothing except the approval from Lindsey Silkirk saying the mod docs would be Fedex to me. Nothing. I paid on my 2nd mortgage as agreed, 7 months later I get a foreclosure notice. I literally begged them on the phone to get me my approved agreement they promised and NOBODY could find my loan.

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LR sent this information. Opinions and conclusions are those of the submitter: “My name is Laurie and I am one of the many victims of Saxon Mortgage Services. After discovering by accident that my home was to be sold at a foreclosure sale, I too tried contacting Saxon. I was in the middle of “modification”, a loosely termed word to mean pay more money and get foreclosed anyway.

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J sent this, originally as a comment: “We are trying to do a modification on our mortgage. We almost lost our home when our interest rate went from 7.25% to 10.33%. Saxon is nothing but a rip off so please be careful. We sent all that they asked for, our personal paper work, but no one ever received it.

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A Pennsylvania resident said: ” I have been figting with Saxon since Aug. 2008. I’ll bring you up to speed… 2/28 Mortgage with interest range 8.45% to 15%, bought in Oct 2005. Transfered from New century to Saxon.
1) Requested loan modification in Aug. prior to being late at all.
2) loan modification came in Nov. and contained months that were already paid. Froze interest rate at 8.45%. Had 2 days to return the paperwork or be denied.
3) Loan mod was denied… Nobody would answer my questions/concerns.
4) applied again – Denied due to surplus, although the denial letter says insufficient funds.
5) spoke to repayment division, agreed to wire $2500 and the remaining was to be put on repayment. Current mortgage payment is $702. Taxes not included. (total housing is $1144.00) They suggested a 9 month payment plan with payments at $1566. Our gross income is only $3000 a month. How can they offer a repayment plan that is more than 50% of our income, if you are supposed to be eligible for a loan mod at 31%?

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NB in New Mexico said: “I’m so upset with this band of thieves that call themselves Saxon Mortgage. My problems started immediately when my mortgage was sold to these people and nobody bothered to inform me of it until after I made a last payment to my old mortgage company (New Century).

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DS in Connecticut said: “I have been trying to get a loan modification for almost 2 years now. Saxon has never replied. At mediation Saxon is making all the calls but Deutsche Bank is the trustee. All I’m told is it is grey area. Saxon has a contract with Deutsche to keep people in foreclosure because they make money doing it. Even the mediator said there’s no hope. I’m determined to get something done about this! We should plan a media event! Time to get LOUD and in their face.”

J in Oregon said: “My husband and I modified our loan in November. We ended up paying more. They added in our insurance which we pay ourselves and charged us $1200.00 in lawyer fees. Our payment went from $845.00 to $1200.00 We can’t refi because of our late payment with Saxon. We need help.”

MM in Washington said: “I have submitted two short sales offers for my clients property since OCTOBER 2008 and call every week for an update – it is now 6 months later and I still have yet to get a negotiator. I’ve been asked to resubmit the entire short sale package 3 times and just today was told to resubmit it yet again (they received the last short sale package re-submission April 8th) because it was denied as a loan modification.

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Alice in Florida said: “I applied for a loan modification on October 2008, Saxon stated it was lost so I applied again in February 2009. Saxon again stated they lost it, when I called to follow up to no avail. Saxon also added insurance to my mortgage when I paid my all my insurances and taxes on my own.

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