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My husband and I re-mortgaged our home in 2006. Saxon bought the loan. My husband passed away in Aug 07. I requested that due to the unforeseen circumstances, they waive the 3 yr pre-pay penalty. I even asked for a discounted penalty since t here was only 10 months left. I had to move to cheaper place. We had made payments $2372. for 2+ years. I made ontime payments for a year after I moved from the house. They refused and I had to pay approximately $5000 before I could sell my house at a BIG loss. The company has no heart, no sense of being. I WOULD NEVER DO BUSINESS WITH THEM EVER AGAIN. I will be their worst advertisement nightmare telling everyone I meet about the bad business practices they have. I hope they lose their license. I wish them BAD loans! many foreclosures! Mistreated in TN.
Saxon is owned by JP Morgan and took over operations in 2006. JP Morgan shutdown all operations of Saxon Mortgage in February due to the "credit crisis". You are actually talking to JP Morgan people when you call them. You are really wasting your time talking to these guys. The only way I was able to even get a call back from these clowns was by not making my payment. My loan first adjusted in June of 2007. I was barely making it with the adjustments the first year. That entire year I begged Saxon to do something to modify my loan, help me with a shortsale, anything. They do not care. I called them every week for one year. Then about three months ago it went up to 12%. I had a heart attack and decided to just let the house go. I am 31 years old (in good health) and had a heart attack because of this. I decided that if they do not want to work with me, I refuse to work with them. They are going to take a $150, 000 plus loss on my house when they foreclose on me. I tried, I really did but these guys do not care at all. Good luck.