| Saxon is wearing me out!
I've been reading other's stories for months now. Great information and dedicated people behind this website. I've been working on a loan modification with Saxon since Aug 4,2008.I never thought I would post here because Saxon led me to believe my modification was just around the corner.What a joke. I'm burnt out trying to deal with them and my story is a bit unusual from most.
My loan is an adjustable that was due to reset in Sept 2008. After insight gained on this site, I called Saxon's Hope Now department and asked if I could qualify for a loan mod because the new loan amount would be more than I could pay. I had never missed a payment and was never late. The Hope Now employee at Saxon (I'll name names if anyone asks) told me on Aug 4 that I qualified for a loan mod. I needed to send a hardship letter, recent paystubs and financial info. I told her I could do it that day and fax it to her.(which I did) She said I would have docs faxed to me in just 2 days. That would have been Aug 6 2008. As of this writing on Jan 5,2009 I still have not received docs. Oh yeah, she told me she would stop my Aug payment from being processed because of the new mod, and this would save me money.That person in the Hope Now department never returned any of my phone calls.Nearing September I got very agressive on the phone with customer service and explained I have never missed a payment and needed direction for the month of September. A supervisor looked at my file on their system and said my mod was approved for 7%. She told me to make a "downpayment" in September and make my first new payment on Oct 1st. She gave me the amounts to pay down to the penny and told me to attach a note saying my loan was modified, but the paperwork had not caught up. I have made every payment since then on time! I have cancelled checks to prove it. I also have documented every call my wife or I made(at least 60). HERE'S THE IRONIC PART! Since Saxon never filed paperwork, their computer generated statement says I'm 5 months delinquent on my loan. They have RUINED my credit by reporting nonpayment each month even though I have paid them. It seems all my payments are in a suspense account.Over the holidays I finally talked to a lady who said she would have that original Hope Now person call me and fix this. I told her I was doubtful,but I would wait and see. About 20 minutes later, the Hope Now person actually calls me and says she is sorry but she LOST all my paperwork, and it's the first time it ever happened to her. She said she would fix my credit right away but that I needed to send in new paperwork because she didn't have my other information. I WAS TOTALLY NUMBED BY THIS. I contacted NACA who arranged a phone interview. These are very nice folks. I was advised to write Saxon a letter explaining my story and copy the California Attorney General,my Congressman and the CEO of Saxon. I told them that interest rates are very low these days and they took away my option to refinance by ruining my credit. I demanded a new loan rate of 5% because I said that's what I was denied. I also demanded they copy me on correspondance sent to the credit agencies to fix my credit. I also said I would not send new information because it is confidential, and they already lost it once. I told them to find my existing file and get my loan done. I didn't want to start a new 5 month long process. I believe NACA is requesting a loan mod for me also.
Sorry for the long story(if you're still reading), but I thought you should know all the facts. I sent the letter 3 days ago, so I haven't heard a word.
Does anyone think I can sue them for ruining my credit? Any ideas on what to do next?
Thanks for your thoughts.
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