I am a teach and goint into foreclosure with SAxon

Is there any way to get my interest rate frozen at the current level. I have an arm that is scheduled to kick in June of this year.

I agree, We need to act collectively. I am in the same Mortgage situation as you. I haven't had a good nights sleep in 6 month. I am tired of the constant fear of foreclosure. even worse trying to fed my children and pay those bastards. If you have any ideas concerning those crooks please email me @ bigflazz73hotmail.com. We need to draw attention to them and our situation. Some where hopefully some one will hear us. "Te squeaky wheel gets the grease".

Saxon Mortgage is unbelievable!! I called them when we became delinquent for one payment. I made arrangements to pay, however the payment I am paying is actually 34 days delinquent, which means we have another due. I assured them that we would pay the next payment prior to the following coming due. The young man who I called and spoke with accepted my arrangement. Yesterday and prior to the paymwent that I promised would be made had posted, I received a phone call from a very rude collector from Saxon. He informed me that Saxon did not have to accept my payment, that they could indeed refuse payment and begin foreclosure. I asked him why he would want to do that when I was making every effort to bring our acount current, that it had not been delinquent before and it was delinquent due to a medical hardship. He very rudely told me to read my contract. I explained to him that I had called in and made an arrangement to pay, which was accepted. He said "well it's not accepted now." He said we had to make two payments to bring the account current or risk losing our home. I was speechless. I began to cry. I asked him if a deferral or extension was available? He said no, Saxon does not do that. I believe that Saxon is a company under the unbrella of Merril Lynch. I will verfiy that tomorrow. I will call Merril Lynch and inform them of our situation. In addition, I will inform them of the multiple errors made thus far on our account with Saxon!!. I found out, when I received a cancellation notice from our home owners insurance that Saxon had not only paid the WRONG insurance company, they also paid the wrong amount. Our insurance pemium was $491, they paid $660. Next I received a past due notice from our county Treasurer that an insufficient amount had been paid on our Property taxes and now, not only were we delinquent, but they added penalties and interest. Prior to our Medical emergency I had tried to re-finance our mortgage and cease doing business with Saxon altogether. One year ago, and when we became customers of Saxon Mortgage, they had an appraiser appraise our home for $146,000, now just one year later, we hired a certified FHA appraiser who appraised our home for $120,000. A $26,000 difference in one year, and after we had just completed new renovations that had not been completed when Saxon did our appraisel. This made no sense to us. We owe Saxon 128,000 which means we are in a negative equity position of $8000. In addition, and I swear I do not remember signing this document and I also believe that the signature that is on this document is not mine, Saxon says we have a 5 year 5% prepay penalty.
I honestly believe that this company is a predatory lender and I have discussed this with authorities, our State Legislators and Congressman.
I want to get away from these crooks. I do not trust that they are not embezzling funds from our account. I have told you two circumstances of bad bookkeeping but there are more. For example, after 6 months of phone calls I finally got Saxon to see their error(?)of paying the wrong amount to the wrong insurance company. When the funds were returned to them, they did not credit our escrow account. They put the funds in a suspence account. It only took me two more months to get them to admit their error and I was promised that the funds would be applied to our now negative escrow balance. Well guess what? Upon my follow up to make certain they had properly applied the balance; I learned that they had applied the funds as a principle reduction. It took another month to get that straightened out and had the funds properly posted to my escrow balance. In addition, I called to verify that the proper Home Owners insurance company and the proper amount was now listed. Surprise, they were still showing the wrong insurance company and the wrong amount. I asked to speak to someone higher up. That is an impossibility. I was told I could fax a letter over and they gave me a fax number. The fax number was invalid. I called Saxon back to double check that I was given the proper number. They gave the wrong number again. This time I also had the company that was interested in refinancing our loan for us call Saxon. They too were given the wrong fax number. What kind of racket is Saxon running? I believe they are in the business of seizing as many propeties as they can for their benefit and that of Merril Lynch. I will continue with my complaints to our Law makers. In themeantime I intend to bring our account current. I never intended to run delinquent in the first place. I feel it is very important to honor our debts, however when someone calls into their mortgage company with a real situation that causes them to run slightly behind, however that consumer also has a plan to bring the account current and discusses said plan, which I did not find unreasonable,these S.O B.'s should provide a little leiway. If I had no intention of honoring the debt, Saxon would know this right away, when the promise to pay was not made and no contact from the consumer to Saxon was attempted. As I said before, I believe this to be a predatory lender and I will do everything I can to fight this company, even after my account is current.