Saxon

[rebeldad]

I applied to Saxon about 1 month ago for a loan modification and have not been replied to. I sent all docs to them by email. I refinanced about two years ago with loan amount of 549,000 and 3,750 per month payment interest only for 5 years and then it graduates to principal and interest with payment well over 5,000. My income is about half of what it was when I took out the mortgatge. I am reading many negative stories about Saxon. Would it be in my best interest to contact NACA? I have never been 30 days late on payment but every month I push the envelope and with my wife just being laid off it it is only a matter of time. Thanks for the forum!! It is much appreciated.

[Moe Bedard]

Hi rebeldad,


Welcome to the forum and thank you for joining............

Saxon is very difficult dealing with.........very poor communication.......
you can contact NACA and see if they will be able to help you........click on the link for the modification steps..........
https://www.naca.com/refinance/refinanceTenStep.jsp

[jacksjean]

I, too, am pursuing a loan mod with Saxon. They received my docs on 11/24/08 (I have a signed receipt) plus I sent partial docs twice to their loss mitigation email address. Here we are 1/2/09 and I haven't heard a word from them. I continue to make my monthly payments but I suspect by March 2009 that I'll be tapped out.

I enrolled to attend a NACA course on 1/17/09. I hope with NACA's backing that I'll have more success with Saxon.

Yes - Saxon is very difficult to work with. As such, I'm almost scared to contact them regarding my loan mod request - I'm very uncertain as to what they'll do. They can be very creative when it comes to getting extra money from us.

Good luck and keep us posted!

[rebeldad]

I attended a NACA workshop yesterday. I will be submitting docs this week for them to go to bat for me. We shall see.....I do think they are good at what they do and they seem to have a very good program for home buyers as well.