You need to know the facts to stop foreclosure with Litton. Many people are unaware that you can obtain a loan workout with your lender to modify your loan. However you will still need to qualify for the type of loan modification on of your mortgage based on your ability to pay.
Litton Loan Services has announced that they plan to be proactive in helping borrowers that are finding it difficult or impossible to make the payment on their mortgage. Many factors go into determining if you are eligible for a loan workout or modification. Hardships and borrowers that cannot keep up with their adjusting mortgages seem to be the most common accepted requests.
Here’s a recent quote from the Larry B. Litton Jr., President:
“The larger the loss of value and the greater the likely loss will be, the more flexible we are,” said Larry B. Litton, Jr., president and chief executive of Litton Loan Servicing in Houston, which services $60 billion in mortgages. “We may waive past-due amounts. In extreme situations, we may even waive principal, if need be.”
Litton said his company is modifying about 1,000 loans a month; up from 300 to 400 about six months ago. EMC rep, Vella said he hopes the Mod Squad will be able to modify up to 2,000 loans a month; six months ago EMC only modified about 400 loans a month.”
What this means is that they are working vigorously to help borrowers. It appears that Larry Litton is one of the most vocal higher ups in this industry calling for the need for loan modifications to at risk borrowers and more flexibility for them from the SEC to do what they need to help their clients avoid foreclosure and save their home.
I hope to make this blog much bigger than it is now and plan to involve as many lenders as I can so I can get the right information to people in a timely manner.
moe bedard moe bedard moe bedard loan safe loan safe solutions
Hi,
We have recently had a chapter 7 BK discharge in which our home was abandoned and exempt from the BK. I have a arm from Countrywide which adjusted in April 07 to $3554 from $ 2420. It is scgeduled to adjust again in Oct 07 to $4221
I have not been late ever, however due to our current situation and the BK, I cannot afford to make these payments for the forseeable future. I coud probably afford $2800 per month.
Do you think that I should contact HOPE and ask for a modification? or will they only speak to me once I am behind. This month is the first month I will fall behind as my cashflow has all but dried up. Should I pay the amount that I can now afford (2800) or not pay anything at all.
Any help or advice would be sincerely appreciated.
Thanks for this great website
Marc
Hey Marc!
I’m sorry to hear about your situation. But like the honorable person you are, you’re trying to make something work that in the end will not work. You’re in a loan you cannot afford and you need to get a loan modification ASAP.
The question is whether Countrywide will allow this? I am going to say they will most likely work with you and you should most definitely call the HOPE Department to work this out before you’re late.
Her’s the number 800-262-4218.
Just be as nice as possible and ask them what the process is to apply for a loan modification because your ARM mortgage has adjusted and you can’t afford the payment.
Good luck and thanks for the compliment on my blog!
Moe
Hi Moe,
thanks for your reply. I did contact the HOPE department yesterday, but ended up getting the run around.All they told me is that they don’t do modifications and my best bet would be to refi. I have been turned down for a refi because of home values and our BK, and all they said was if I could not make a payment, they would divide the missed payments by 6 and add the amounts to the next six months mortgage payments. That is not obviously going to solve anything for me, and so once again I am on hold with them as I type this. I will now ask for a manager and see if i can make any progress this time.
I’ll keep you and your readers posted.
Thanks again,
It gives me some comfort knowing were not the only ones in this dire situation..
Marc
Hello Marc and thanks for keeping us all up to date on things.
This seems to be hit and miss in regards to loan modifications. Especially since you are not late, so I assume whoever you are speaking with is just not taking the time to look at your file and work with you. It’s frustrating, I know!
You need to demand to speak with a manager in a nice way and just ask them if you can at least apply and show them that you will not be able to keep up at the current rate and you CAN’T refinance. I hate when I hear that. It’s like, duh……….., you wouldn’t be calling them for help if you could refinance.
Don’t accept nothing you can’t afford and never give up!
Keep us posted Marc and best of luck!
Moe
I just received notification about this service today since we are currently two months behind. My husband went from working 60 hours a week to barely getting 20. We both just took on 2nd jobs to get back on track but Litton seems to be pretty determined to help us modify our loan. Of course I’m hesitant but I figure I’ll give it a shot if it lowers my interest rate and monthly payments. I’ll be happy to let you know how it goes if you would like. I’ve been searching the web all night to see if anyone has experience with this or if anyone was approved. My fear is they won’t approve us but I guess we won’t know until we send in all the paperwork. Thanks for listening.
Thanks for stopping by and telling your story. I would think based on what you had mentioned above that you would qualify for a loan modification.
Please keep me up to date and definitely let me know what happens!
Best of luck to you!
I have a trustee sale date Aug 30, I just called Litton to work something out and the answer I got was “everyone is out to lunch, call back in 30 min.” How can this be?! I have called and left messages and no one calls me back! Screw it! it’s their money! I think Mr. Litton Jr. needs to touch bases with his employees and work on customer service. I’m willing to save the loan and do my part but litton has to help. My payment went from 2500 to over 4000…..Crazzy
Have you tried calling the workout department? They sent me a certified letter in addition to the phone call regarding the loan modification. In talking with them more I’m guessing we were a good candidate since we have little equity in our home – meaning they would loose money foreclosing on our house. Do you have a lot of equity? Is there money to be made in them having the home? I would keep calling until you get someone on the line. I can’t imagine a payment going up that much! Holy crap that makes me sick to even think about. I’m scared that is going to happen to us with our 1st mortgage at Countrywide. I wouldn’t let your house go without fight. I wish you the best. I know how stressful foreclosure is. We were facing it in January 2007 and it took us $7,000 cash to get out of it. I should mention that $3500 of that was for misc fees (legal fees). Anyway I’m thinking of you during this difficult time.
I finally got a hold of them a few minutes ago, Rene Williams says she will call me back. I’ll cross my fingers. I have about 100K in equity, I hope this doesn’t hurt me. Thanks for the quick reply
Let me handle this for you for free. I can deal with Litton for you and save your home. All you have to do is go to loansafe.org and I will get you a loan modification.
Best Regards,
Moe
Thanks S for helping my readers! You definitley know about paying it forward.
I think I’m figuring out the catch with all of this. I sent my packet of information (financials, certified funds of $187 something) priority mail to Litton which they received on Tuesday. I got a call yesterday from some CR that I could hardly understand demanding a payment or she was turning everything over to the legal department. I read her the letter I received and demanded to speak to her supervisor since what she was telling me was not was the terms of the letter stated. She eventually hung up with me and I called over to A2Z field services who are working with Litton on these loan modifications. They assured me that everything was okay and that our packet was received and being reviewed. She mentioned that a lot of the customer service reps are clueless about the new loan modifications and that they keep calling me since I come up on their dialer. She did give me the name and number of someone at Litton to contact about the modification but I haven’t been able to reach her. Should I be worried? I was hesitant from the get go on all of this since we’ve been screwed with both of our mortgages. Sometimes I just wish we would have walked away from the deal at the closing table when we found out that all of our terms had changed. If we manage to get through this mess we are just faced with more challenges in the spring time once our terms change and we go to a ARM. This is all so frustrating.
Thanks again! Who is A2Z field services? Sounds like a vendor for them. Just keep doing what you’re doing and never give up on your loan modification.
Just wanted to give an update. Litton called to let us know that our loan modification had been approved and our payment went from $476 to $209 per month for the next 15 years. Words cannot describe how much this will help us get on track with everything and start over. I’m so thankful for this and still in shock. Our next payment isn’t until 10/1/07 so that gives us all of September to get all the other bills completely paid off. We can make it once we’re caught up. It’s just catching up that’s the hard part. Now we finally have a chance well that is until March 2008 when our primary loan resets. Until then thought this will give us time to pay everything off and start rebuilding our credit that is now in the toilet. Well thanks for listening and I’m still going to stick around cause I will have to deal with Countrywide in March and dealing with them in the past hasn’t been pretty.
Congratulations!!!!!
I’m so happy for you. Good luck with Countrywide and please keep us all up to date in the future!
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kulartinuminto 96 post
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We currently applied for a loan modification through Litton Loan, but they only agreed to fix our interest to what it was before it went up, and they only agreed to fix it at the low rate for 2 more years. I am in the middle of signing the final paperwork and I am confused on how this works, is it going to hurt me in the end or help me. The way the market is in California is very unstable and home sales are expected to continue to fall in the next 2 years. I might not be able to refinance then either and end up in the same boat. How can I get Litton Loan to modify my loan for at least 15 years as other of your reader’s have. I agree the whole process is very stressful. I wish someone can better explain the modification to me. I call the loss mitigation dept and they are very short with me. They definitely need to work on their customer service skills and it’s very hard to get a hold of some one at the Loss Mitigation dept.
ALL lenders and servicers need to work on their loss mitigation efforts. I truly think you are lucky to get anything and to jump on it. You could counter and ask for more time. It wouldn’t hurt to ask for a 5year or 10 year fixed. Tell them you are very scared with the market and please to fix it longer.
I did ask my loss mitigation Rep for a 5 year fixed rate and he said it was not possible, all they are doing is extening the fixed rate to another 2 years, but the original loan is still in effect. Is there anyone I can write too, I have never been late and I have a good payment history with them. Is there a Presidents address to Litton Loan I can send a letter to that you know of? This is just a horrible experience.
I have one more question….My brother was helping me refinance my home back in August of this year because I didn’t qualify by myself because of my cerdit score and income. In order to do that the company I was trying to refi with put my brother on title, well now that the refi didn’t go through, I contacted Litton loan and was approved for a Loan modification and sending my final paperwork, however the loan I have through Litton is under my name only so I had the company that was trying to help me refi, take my brother off title and leave me on by myself. Is this going to affect me with my loan Modification, I am on title by myself now.
You can try and contact Larry Litton, CEO of Littone. I do not have is direct contact info.
PHONE
Customer Service Department
(800) 247-9727
Litton Loan Servicing, LP
Houston, TX 77081 (Map) Phone: 713-960-9676
Fax: 713-966-8830
Toll Free: 800-247-9727
https://www.littonloan.com
This should not affect it. Unless your income is not enough without your brother. It also can cause you to have too much income where you will not be able to qualify. You should speak with a legal aid or pro bono attorney to make sure you are getting a fair deal. Otherwise you may be signing your rights away. Try http://www.NACA.net or call your local BAR association for an attorney referral.
svirtokilo 95 post
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I have a great rapport with Litton and have been successful at helping people modify through them.
They do not pull title for a loan mod, and it should not affect anything.
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Sheri, then you are one of the lucky ones and an exception to the rule. visit http://www.msfraud.org
My home was foreclosed on Monday. I am a realtor so my income completely plummeted. However, I could make the current payments (very high @ $4,400.) I could make thos payments comfortably and asked Litton FOUR times to just keep my payments the same for at least the next year. Each time they said absolutely not. I don’t understand why they chose to foreclose on my home rather than modify the loan for JUST a year!! It seems that they are helping everyone else. Why not me? I actually tried to contact Larry Litton, Jr. and they in no way shape or form would let me speak with him (of course), and yet no one has an answer on WHY they wouldn’t work with me. Please help me get answers. It’s too late – my home is gone, as well as my credit, reputation, and self-respect. But I do deserve to know WHY this company did not want to offer me any kind of alternative at all. One representative told me that they aren not ‘obligated.’ I know that. But as a realtor, I’ve always been taught that a lender NEVER wants to foreclose. Now I’m finding that is just false. Please help me make sense of this.
I’m so sorry to hear this. I don’t know why/how/what these people on the other end of the phone are thinking, obviously they aren’t. They started foreclosure on Monday or your out and it’s sold? Let me know.
Kay, I am sorry to hear of your recent foreclosure. What state are you located in? I have been working with homeowners in California who have been foreclosed, specifically senior citizens. I am working on a case for a 78 year old senior citizen who’s home was foreclosed on in late March 2007.
We were able to have her eviction postponed. She is still living in the home post-foreclosure and through some different statutes her attorneys are working on undoing her foreclosure and undoing her last loan, the ones that foreclosed on her, which was predatory in all respects.
You can request a copy of your loan package using the REPSA statute found in your loan servicing disclosure. You can request a “loan audit” to ensure all payments were properly applied and you can have one of a variety of consumer advocates navigate these waters on your behalf and begin a loan investigation for fraud.
Don’t give up if you truly desire to keep your home and protect your equity.
You can ask for more information by contact dontdothatshithere@moesblogplease.com
I’m so sorry to hear about people being thrown out of their homes. This not right. Something HAS to be done. Moe you’re providing valuable information here at your site. Thanks on behalf of all of us who really need it.
Sherri, Moe, someone. .anyone who can help me deal with Litton!!! Please!!! Long story short. .seperated in 8/06. Called AMC to try to do a loan workout do lower payment. Offered a one payment. I accepted and paid, however, they knew by now that I was a single mom working 3 jobs. Guess what. 3 days after I made a large payment to AMC they service transferred my loan to Litton. Never got one piece of information from Litton. They said my loan was delinquent and in foreclosure for 5 months. Spoke with 7 different people. .promised this and that and never got anything ever faxed to me or sent via mail. .moreorless a returned phone call. Hired a mitigation co. in August to help me deal with this and got scammed. Again, promised this and that. Auctioneer showed up at my house on 9/18/07. Woman at mitigation co. said give him whatever you have in the bank to stop foreclosure sale from happening so I did. Well she called 2 days later to say that she had gotten some information from Litton, signed my name and faxed it back to Litton because it was already late. It took me 4 weeks to get any information from HER. Repeatedly called her and emailed her. Got papers int he mail on 10/25/07. She had signed a form stating that my payments would go from $1600/mo to $2700/mo. Holy crap!!! The kicker?? 1st installment was due on 10/21/07. Immediately called Litton and the rep said “well you missed your payment. .we get your house” and hung up. Since then noone has returned phone calls from Litton or Loss Mit. co. Sale date set for 12/17/07. Can anyone advise?? Im not looking for a handout or anything like that. I need help, advise, guidance..i cant lose my house. My kids and I have no other family and nowhere to go. I want to fight this. .and Litton. I had never had a late payment on my mortgage ever. Could someone point me in the right directin here?? Chapter 13?? Fight them?? Thanks for any info. .
Kathy, please call me after 10 am at 951-271-6283. Let me see what I can do to help.
Who the hell was that loss mitigation company???? I will tear them a new %*#!!!!!!!!!! That upsets me so much.
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Best Regards,
Mr Jude Smith.
We built our house in 2004. We live in TX. We have an ARM which came due 2 years later. At the time, I tried to refinance. I was turned down, but didn’t realize that I would not have been turned down by every lender. To make a long story short, in 2006 I had a very complicated pregnancy. I was on bed rest by month 3. My company did not offer short term disability and even though I did everything I was supposed to, my long term disability paperwork got messed up. I didn’t get paid it until sometime after the baby was born and by then I had gotten so far in debt. I had an agreement where I was paying monthly for a year all the back mortgage payments. I did that, but my credit report didn’t reflect it and so it looked like we were farther behind than what we actually were. Litton said that b/c we were behind and in forebearance that those payments would not show as a current payment, but as a past due payment. It appeared as though we really weren’t making payment when we did religiously. Because of this I really couldn’t get refinanced. But during this entire “repayment phase” my rate had gone up, without anyone letting me know. Once the repayment phase was over I was left owing just about as much as before for the late payments of the new rate. My bill didn’t even reflect it at until after I had found out. Then guess, what another rate hike. Plus, we had an issue with our property taxes that we were working out with the county office (deed filed incorrectly so didn’t get a tax bill first year, and the 2nd year was all due plus late fees) the mortgage company paid the bill w/o our knowledge and our trying to get the title company (who made the mistake) to pay it went by the side. They added that onto our monthly payments. Our payment went from 837 a monty to an outstanding 3300. My husband and I didn’t even make that much per month at the time. When I called to try and work out something with the mortgage company they refused. They also refused to take partial payments. I was told by the mortgage company I needed to wait until it goes into foreclosure then I can get a loan modification. I had no choice. I did this. I consulted one of those websites with loss mitigation and they told me to go ahead an file it, b/c that is what they would do and it would save me 1000. I did everything that was asked, but was told by the mortg. co. I should have done it before it went into foreclosure b/c there might not be enough time. I called everyday for 7 weeks about what the status was on the modification. I was told that there is still no decision and they will let me know. It came to the point that it was a few days before the sale of my home, so I filed ch13. Due to miscommunication from an employee at my attorney’s office (who is no longer employed there as of last week) my bankruptcy was dismissed without prejudice. I was told I could refile as early as in a few days and start the process over, b/c the mortg. co. is starting the foreclosure process again. I’m wondering if I should hire someone to do a loan modification for me and if it would work this time. My rate is up to 11.75% and even though rates are dropping my is still rising. If I file ch13 again, it will be 5 years before I can refinance and I know that the loan mod. is the best answer for us if we can get it. My husband and I both have better/stable jobs now. I just need some help and fast. I’ve steered in the wrong direction so many times. I know what I need and want (loan mod – arrears put at end of loan and if possible the rate lowered). We have plenty of equity in the house (which has led to many people trying to take advantage of). What do I do? I just need help
Hi, it’s Kay – remember me – Miss Foreclosure November 2007? Starving realtor? When I knew they were going to foreclose and the cavalry was not coming to help me I just went ahead and moved out. Litton was certain that someone would bid on this house on the courthouse and no one did!! So, now it’s all theirs and it’s on the market – for $125,000 LESS than what it was once worth.
The problem now is the second mortgage – they are really working on me now saying they will get every dime I owe them. I have tried to settle. I do NOT believe in walking away and leaving bills unpaid – but they not only do NOT want to settle they want everything in a lump sum – $140,000. How? Will they beat this out of me? Will they put me in jail.
Sometimes I sit and laugh and other times I sit and cry.
Frederic, I live in Virginia. The value of this home dropped so quick it made my head spin. I had about $75,000 in equity and at the end is was negative $125,000. Now, I wish I could talk to someone who has been through foreclosure. I want to know what to expect and what is going to happen.
Moe wrote an article wherein he said that second mortgage’s, if they were taken out at the time of the home purchase, cannot be collected because they were basically purchase money loans. I wonder if that applies to your situation, Kay?
Hello everyone- I am so glad I found this site. I have also been dealing with Litton on a loan modification since November. They extended my intro rate. and payment of $1700 for two more years as is common now. The problem I am having is we are heading into February and Litton still continues to bill me the higher adjusted rate payment of $2400. I call them almost everyday and they can not tell me why they continue to bill me at the adjusted higher rate after I sent back all the paperwork for the mod and their “440 fee”. The paperwork said the new payment was in effect as of December however I didnt even get the paperwork until January but did overnight it back to them the next day. The most I can get out of them is they have not finished processing the paperwork. Well what about all the extra money I am sending them now? Will I be refunded the difference. I assume not since it is Litton after all. I feel like Litton just drags their feet to squeeze every nickle out of me they can. Has anybody had a similar situation with a loan mod from them yet? Can anybody give me a time frame as to how long it takes to actually get billed the new lower payment after you sent them all the paperwork they require?
Thanks…and Litton is a nightmare to deal with and I hope they get punished some day.
Hello Martin,
I am going through the same situation with Litton.
My loan is set to adjust on 3/1/2008 an additional $1,000!
On Nov. 28th, 2007, I faxed a loan mod request to Litton with all the documents they required. I called a week later to check status and was told the docs were being processed. A month later I called to be told, yet again, the docs were being processed. On Dec. 20th a rep told me the retention dept. sent a rep to my home a took pictures and the mod was “PRELIMILARILY” approved. Every week thereafter (of course documenting every name, conversation, etc), I was told they were still processing the modification. In January, I’ve called every week with no change. I’d emailed the loan retention rep Alfred Davis 3 or more times requesting status, called customer service and left call back requests and noone had responded. On Feb. 6, I’d had it! I spoke with a rep who told me there was no change so I requested to speak with the loan retention dept manager. She transferred me to Michael Whitfield. Michael informed me that the paperwork was with ‘Litton’s attorney and financial dept.’ for review. Basically Alfred Davis. I told Michael that I’d sent numerous requests to Mr. Davis and had never heard from him. I asked to speak with Mr. Davis’ manager and was told ‘they have no direct dial’ and the rep said he would send a message (yet again), to the rep and copy his manager Steven Droddy (retention dept.). I got off the phone furious and frustrated because after their “promise” of a 60 day process and it being well over 60 days AND my ARM set to reset 3/1/08! I emailed Alfred Davis, copied his manager and the rep Michael Whitfield and attached the complete chain of emails to which Mr. Davis never reponded! I included the fact that he NEVER RESPONDED OR FOLLOWED up! I then (I live in California), called my Governors office (Swartznegger implemented a VERY SPECIFIC agreement with Litton’s CEO and 3 other companies to assist CA homeowners modify their ARM’s set to adjust). I spoke with a rep at the governors office who worked on the Litton agreement, faxed all my paper trails to her, contact info, explanation of the non-reponsiveness, etc.
Today Feb. 7th my fiance’ called and said a rep contacted the house saying our mod was approved.
I want it to be known that Litton Loan Servicing’s modification process is completely unprofessional and seems very shady. They appear to wait or hold up the process until the ARM sets in (knowing you are requesting the mod because YOU CANT PAY THE INCREASE), and customers are already 1+ month behind and/or late fee’s have been attached due to non payment of the ARM. PEOPLE if you’re in CA, call the governors office and let them know about your experience because they may not know that the agreement our governor signed is NOT WORKING! Litton is still practicing shady business tactics!
For the record:
email addresses are”
steven.droddy@littonloan.com (mort retention mgr)
michael.whitfield@littonloan.com (loan retention mgr)
or call Megan with the CA governors office:
Governor Arnold Schwarzenegger
State Capitol Building
Sacramento, CA 95814
Phone: 916-445-2841
My husband and i were trying to refi but you gave us such a hard time you were putting us in forclosure all because of a 11.000 pre-pay now you know it would of cost you so much more foreclosing on our home. When my saving grace Peter Buchsbaum from ( Arlington Capital) had got us a FHA saving us hundred’s of dollar’s you would not give in until 02-04-08 this has been going on since November 07, i read the article when you said you would do good for your Co. as that was your Father’s dream well you are not a man of your word.Also you had better teach your customer service dept. in collection’s to treat customer’s with RESPECT!!!! on 02-11-08 we had already had refinanced on 02-04-08 she called me with such IGORNANCE saying she wanted 11.000$ from us i tried to explain we did a refi she would not let me get a word in edgewise. And she HUNG! up the phone that was at 7:18 p.m. Your Company is a NIGHTMARE. With today’s mortgage industry you will be on to be out of business and thank God you are no longer my mortgage holder.
Does anyone know Alfred Davis’s fax number or phone number from Litton loan service?
Samuel 503.241.0689
How can you guys talk about medications when people are loosing their homes?
Hello Samuel,
I couldn’t find Alfred Davis’ phone number but my advise is to call WITHOUT entering your account information and ask to speak directly to him.
His email is: alfred.davis@littonloan.com
Let me know if this helps!
I have to announce that as of February 28, 2007, Litton Loan has successfully modified our mortgage! We are thankful and appreciative of this site!
Thanks everyone!
TJ
As most everyone else…my loan was transferred to litton. We were kind of nervous because of all the negative feedback about the company…(actually we still kind of worry about it), but they have treated us very well so far. We successfully got our interest rate from 8% down to 6% until 2010…by then we will of course refi with another company though.
Hurt, embarassment and dispare has landed me on medication.I am
a victim of a preditory lender, I’m faced with now a blemished
credit report due to a couple of late payments and my equity stripped along with my peace of mind. It along could could pull me out of possible foreclosure, and most recently a broker advised me to wait out the pre-payment penalty of $7800.00 they should not be intitled to get their hands on. Stuck in and an interest rate of 10.35%, and a payment of $1633.00, they/He supplied the income documents and inflated the income to the underwriters. How could I have been so gullable..
How do I get out of this mess! I feel like a deadwoman walking, I do have faith, but I’m exhausted, I’ve taken out a policy in the event of my untimely demise dealing with CountryWide..At least my daughter and grandchildren can pay off the loan and salvage my thirty year home.. and live happier ever after.
My co-worker asked me what diet I was on.. I chuckled/ CountryWide
Hello Annie,
My name is Paula Hamm and I am a Mortgage Broker. What state are you in? Can you give me some information about your current mortgage. I do not want your personal information, I just want to see if there is anything that I can do that might help you out of this current situation that you are in? How much do you owe on your home? How much is it worth? How long have you been there? you can email me at phamm@gatewayloan.com. In the subject line put RE:HOme
this is to keep it from going into the junk folder.
Hope I can help
Paula Hamm
Gateway Mortgage Group, llc
Geez! I am going through the same thing with Litton. I sent in all docs to Litton and they “began the process of a Loan Modification” on Dec 19, 2007. To this date, almost 3 months later I have yet to hear from anyone. I call and get voicemails and now I call and press 0. All the reps tell me the same thing, it is in process–tell me something I dont know! I get the voicemail for Crystal Bell–she has not returned my calls in 3 months. Now I have reps calling me 4-7 times a day requesting my back payments. One rep yesterday “advised” more like threatened that if I did not make my back payments right then and there over the phone my Loan Modification would more than likely be denied! And they call that customer service. Help!
Hey SGR,
I would recommend that you find as many litton contacts as possible and mass email them explaining your situation. When I got my interest rate lowered….I was not behind in any payments…so that may be slightly different story.
Wish I could be of more help.
I would like to know if SGR could help me refinance my mortage and get me out of an Adjustabe Rate Mortage (ARM). My home has lost it value and I don’t know anywhere else to look. Please help.
Hi Dianne,
If you can REFI all depends on your credit score. As I am sure you are well aware, they have really tightened up what is needed to REFI. Do you owe more on your house than it is worth? If so, it may be a little more difficult trying to get it refinanced.
May sound like a stupid question, but how do you know if you are a victim of predatory lending. Having major problems with countrywide.
I live in San Diego and I keep hearing about these loan modifications. I hear that you can modify your loan between 2-5 years. How exactly does this work and is it really worth doing? After the loan expires, wont I be in the same situation of my house is not worth what I bought it for?
Grace, please visist http://www.LoanSafe.org and you willl learn all about how to do a loan modification.
Well I finally heard from Crystal Bell from Litton! She said my modification was approvoed–BUT only for 21 months and they only reduced my payment by $200! They also want $ as a “contribution” and for me to make the payments I was behind on! And they call that help! I am so upset and frustrated I dont think my home is worth keeping anymore! They are sending in the docs via FedEx so I can send them back, but I have to really look at the fine print. Anyone have any other ideas?
Diane, I dont know if I will be much help but I can try!
Hi,
my husband passed and since then its been very difficult to keep up with my house payments, I’ve put myself in more cc debt just to be able to make pymnts. I have made all of them, though some have been late. I called this dept and they said they were not able to help because my loan is at an adjustable rate and wont change till 2011, the interest rate i have is at the market value 6.8%…I asked what this means and they just told me they cant do anything to help me and to short sell the house, or refinance. I tried refinancing with them and I was not able to. If i shortsell the house, i would have to come up with money i do not have. please advise… is there something out there to help me? (The loan is only under my husband’s name but I have provided them with a death certificate, they said that is what they needed to help me and once that was received they would tell me the plan, well they didn’t, but I am now authorized on the loan.)
I have a homeequity loan with Countrywide. My first loan is in foreclosure and will be sold at the end of the month. I have a buyer for the property, but he will not pay off this 2nd loan. My mom will help me pay off the 2nd, but cannot pay the whole thing. I am trying to negotiate a lower payoff figure, but am getting nowhere. Any suggetions?
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Hi, they say my loan is in foreclosure
but I was a victim of preditory lending, I am a
disabled Veteran, and senior, 62 years old.
I did not know what I was getting into when I
re=financed, what can I do now??
Ernest Phillips
I believe I was a victim of predatory lending. They approved me at 10% intially and when I went to sign the papers, they raised my interest rate to 12%. Now there was a concern with my credit rating from the start and they still gave me the loan but at such an outragous amount. I believe that they set me up to fail at this loan.
COOL !!!
The loan modification may not be perfect, but it is better than the other option – getting your home foreclosed.
Bravo Litton! Keep up the good fight for distressed homeowners and keep them out of the foreclosure process.
I am glad to hear that Litton is helping so many people to modify their mortgage loan terms so they can stay in their home. It seems that banks won’t take the initiatives to help their own customers without a little push. So keep on pushing for the consumer guys!
I want to apply for loan modification.
WE APPRECIATE THE OPPORTUNITY TO EXPLAIN THE CIRCUMSTANCES WHICH HAVE CAUSED US TO FALL BEHIND ON OUR MORTGAGE PAYMENT THE SITUATION TERRIBLE FOR US NOW I NEED YOUR ASSISTANCE TO MODIFY & WORK IN VALUE THANK YOU FOR YOUR HELP
HELP!I was wondering if I could buyout the first note which is 9 months behind ,I’ve got a 4th on property for 2.5 million that’s in default also,and I’m having to foreclose on it.The first is around $3.5 million with Countrywide now BofA,and is probably in a basket with a bunch of others,how do I go about it?