TB in Pennsylvania 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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