Litton Loan Servicing review: Predatory loan practices 47

I have already spent hours and hours on the phone, documenting conversations, faxing all the neccessary paperwork, and still paying every month. When I heard about the modification process about a year ago, and knowing our ARM would be adjusting in May, I started contacting Litton to find out our options. I was told I had to wait until 60 days before the ARM, then when I called at 60 days, I was told I had to wait until it was actually adjusting.

Long story short, my husband and I are finished with paying this company any more money.

We never signed on with them, as both our 1st and 2nd loans were bought by Litton within weeks after doing our refi. There are houses right down the street, exactly like ours, renting for half the price we are paying on our mortgage. We would be able to pay all of our other creditor OFF in less than 2 years if we started paying rent and let the house go! So far, they are reporting us late since May (when our modification process finally began), and delinquent since October. But we didn't recieve or sign the mod paperwork until November! Now they are back charging us for the difference between the new modified payment and the trial payment, even though there is over $700 in a "suspense" account which would more than cover the difference. Meanwhile, we hardly have any food in our house, and I am a full time student while my husband runs his own business (his income also dropped in 2008 and 2009, but that didn't matter either).

However long it takes before we can buy another home, I do not plan on doing business with anyone but our local Credit Unionin order to make sure our loan never gets in the hands of these criminals again.

I would definitely be interested in being part of any class action lawsuit that could stop this company and force the credit agencies to reverse all negative reports for all of us who have made a significan effort to communicate and pay what we thought we should.

micnro5@msn.com

I have been forced to deal with Litton Loan Servicing and even tried to refinance to another mortgage company, but would have ended up with Litton anyway because I own a manufactured home.

I have been a customer of Litton for over ten years. In that ten years I have had to fight forclosure from the moment Litton aquired my loan even though my loan was up to date and current at the time of transfer, Inspection charges because they "drive by" to make sure we are occuping the home, late fees that accrued to the point of thousands, spent hundreds in letters with receipt only have Litton claim even with signature of receipt they did receive the payments, abusive customer service reps to the point that I was forced to contact Larry Litton at home on Christmas Eve @ 6pm to get one problem settled. Even after a court required remodification on my loan where Litton was forced to eat $28, 000 and fix my credit report my credit report is still no corrected 4 years later. My most recent problem is now they what to escrow flood insurance for my home at at 3 times what I pay for flood insurance independently.

I was harrased to the point that Litton no longer as a telephone number on record for me. The fight is never ending.

How much does the customer have to take?

Litton Loan takes homes by fraud.Ironically, Litton`s haste to securitize your loan has provided you with a security blanket that protects you from foreclosure.

When the mortgage and note are seperated by securitization it null and voids your mortgage contract and they only enforce foreclosers by the ignorance of the people and by fraud.

This is a good website to checkout.

http://www.yourmortgagewar.com/intro.html

May God curse litton loan and bring them crashing down and held accountable.Vote for the Republicans in November because they are the ones that will bring companies like litton loan down.

I am a mother with two children. I started this mortgage in 1988 with my husband which was in the Army, I wanted to keep a roof over my head and he found more things important things to do. We started a family in 1996. We had some problems but I did everything I could do to keep this house for 22 years. Litton Loan told me to let them do the Loan Modification because it would save me some money, or let some outsid company do it, so I did. I did everything they asked. I send it several times(papers and all the informations they asked for they continue to misplace and found later) so many times I lost count. I called every month because I found out that sometimes the person on the phone was not trying to help me and so I called backed and hoped I would get someone who cares or can help me. I called and faxed everything they needed. They acted like they did not received the informations or I did not talk to them every month. LITTON LOAN SERVICES NEED TO BE CLOSED DOWN AND WE NEED TO TELL OUR PRESIDENT AND THE WORLD WHAT THEY ARE (LIARS, THEIF, CROOKS, HOME OWNER FRUEDS)send them to jail

My name is Lee Lawson, and some how I agree with all the above comments that have been stated. I my self experience so of the same mistreatments, eg, it cost me over $8, 000 to get my property relese from foreclosure. I was forced to reverse my mortgage, owing a balance to them in the amount of $53, 000. LITTON would not give a release until I was ordered to pay over$63, 000.00. Please let me know where I can join this suit against the LITTON Company.
Thank you

My father passed away in Sept of 2009. He got involved with Litton 2 yrs prior to his death. I am now stuck with a -$500, 000.00 estate because of this awful company. I have had the house up for short sale since Oct 2009. No one will buy it because Litton is too slow to close on the deal. I have had 3 offers and it takes Litton 6 to 8 months to decide if the offer is good or not. I have learned that if you call them and it asks for a 4 digit code just keep saying "NO" and it will put you thru to a live person. The house was supposed to be foreclosed on and now Litton won't even do that! They are a bunch of ###s! I have had the attorney general of consumer affairs from Iowa get involved, but to no avail. The city I live in has filed a nuisance ordinance against the property. Litton was contacted by 3 of my lawyers and also by certified letter...once again no response so now the house belongs to the city and all debts against it are wiped clean! Suck it Litton, you aren't getting a dime off that house and I think it is hysterical! DO NOT GET A LOAN FROM THIS COMPANY! DO YOUR RESEARCH! I am just the executor of this estate and it has been a mess because of this company!

I am horrified to read everyone's complaints about this company. Recently I contacted Litton to discuss a loan modification and was told after spending an hour discussing my financial sitaution that I was "pre-qualified" for a loan modification.

The representative helping me initailly was not very friendly; however, she warmed a little about a half hour into the conversaiton. She informed me that I would need to submit a hardship letter along with paycheck stubs and bank statements. I was informed once the requested information was received, it would take approximately 90-days for Litton to present me with the terms of the modified loan. I went ahead and made my December 2008 payment with the intention of providing the requested letter and financial information in the upcoming weeks at the first of the year.

Unfortunately, prior to having the chance to submit such informaion, I received 2 letters in the mail (one for each of my 2 loans) annonucing that after review of my Income documents, they are not able to offer an alternative workout solution...What documents did they review to make this new decision contradicting the pre-qualification I was verbally provided over the phone by one of their reps. I still to this day have not yet submitted income income documents to Litton for review, yet they have declined me based on "Income documents."

So, it appears that Litton never had any intention of working with my loan and in anticipation of me submitting the requested financial documents, schedueld me to receive a form letter contradicting the verbal pre-qualificaiton I received.

This is a joke! Litton is the servicing company for my loan funded by Ownit Mortgage who is no longer in business. Not knowing at the time that Ownit folded two years ago, during my phone conversation with the Litton Loan rep, when I specifically asked her if I should try to contact Ownit directly she neglected to inform me that the company holding my note had folded. Rather, she advised that although I could attempt to contact them directly, she encouraged me to move forward with Litton in an attempt to modify the loan...what kind of sick game is that?

I appreciate everyone taking the time to post their information. I now feel more educated about the tactics of this company and will begin using counsel to address my mortgage concerns.

Although my home loan is a sub-prime loan, I am not stupid nor will I tolerate someone trying to take advantage of me or my situation. I fell prey once...but, never again. Best of luck to everyone out there trying to do the right thing by negotiation with the banks instead of walking away.