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Posted: Thu Feb 08, 2007 2:12 pm Subject: Litton Lending/Loans?

Has anyone ever dealt with this company - I have a friend whose mortgage lender sold her note to this company and they got behind and about six weeks and the next thing this co. has them in forclosure. What's the skinny on these guys?

Posted: Thu Feb 08, 2007 2:20 pm Subject:

OMG! Your friend has to act fast before they try to foreclose the house. If they win, s/he will lose the property.

Ask your friend to call the company and make a deal. Hopefully, the matter will be taken care of with a mutual understanding and the house will not be at risk.

Posted: Thu Feb 08, 2007 2:38 pm Subject: lITTON lENDING/LOANS

I had the same experience few mos. ago, the served us the summons for the foreclosure and we went to our attorney and he filed an "Answer" to their summons, in the meantime we had been talking with them and they would only agrred to a forebearance/repayment pkan but the terms were outrageous (double the monthly payment almost) in December instead of talking with the Loss Mitigation Dept. I sent a letter explaining the reason why we got behind in the payments and I asked them if they would please giveus a "Loan Modification" (they put the arrearrage at the end of the loan) so now we are current. They say the mortgage will not be paid in full until the year 2036 (which I am not planning to stay here that long) so try to write instead of calling because everytime we called you talked with someone different and one hand did not know what the other hand was doind (get what I mean?) I feel comfortable now with them anyway, the February payment has been made. Oh, I also told them that my check did not get to the bank until the third (soc. sec.) and they told me as lond as the payment reaches them before the 10th of the month I'll be OK. So, maybe you should try that.

Posted: Thu Feb 08, 2007 5:17 pm Subject:

Good advice, mollie. I didn't know that could be done.

Posted: Thu Feb 08, 2007 6:22 pm Subject:

My friend told me that they get two to three letters a week treatening forclosure. They refinanced their house about a year ago and the company that they refinanced with sold the note to this Litton Loans. They got a call on Monday that the note was being sent to Litton's attorneys for forclosure,yesterday some guy was out side taking pictures of the house and today when my friends husband called them regarding the payment he was told it was not his house but that Litton owned it and if payment was not made by today the house would be sold on saturday.

Posted: Thu Feb 08, 2007 7:07 pm Subject:

I had litton loan too, thank god after a few months they sold it to another company, because as soon as i was getting 3 weeks behind they would send me forclosure letters. Now i deal with homecomings which is part of GMAC and so far they are great.

Posted: Fri Feb 09, 2007 8:47 am Subject:

irish,

That doesn't seem right to me. She may want to contact the consumer affairs office in here state. I would check the BBB website to see how their standing is.

Posted: Fri Feb 09, 2007 9:33 am Subject:

I sent her both links and the one for the ag's office. Her husband seems to think that it is their problem and they need to deal with it, but I found out that there have been law suits all over the country and a couple of class actions are in the works. He doesn't want to hear this stuff - other peoples' problems - but luckily she wants the info.

Posted: Sun Feb 11, 2007 8:04 am Subject:

My mortgage company was sued by several states and now they are being absurd with us. We are dealing with their lawyers right now to try and straighten out the mess. They want us to sign another forebearance agreement so they can get more money in so called fees. We've sent everything to their attorney's office and they seem very helpful so far.

Serenity · Posted: Tue Mar 06, 2007 2:20 pm Subject: foreclosure rules

I work for a mortgage company, and it's not possible to foreclose, evict, and put the house up for sale in a week. However, every state's rules on foreclosure is different. It also depends on the investor, not just the mortgage lender. That being said, threatening tactics should not be tolerated, from a mortgage company or a collections company.

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