Litton Loan Modification Updates Anyone?

[moosies]

I'm still fairly new at this whole modification thing and have only been submitted with Litton through NACA since 7/20/09. I've been told I'm "under review" for a month now.
I'm really interested to see if any of the "old timers" with Litton have received any news lately? Are they moving forward or stalling? Give us your input please.
Also, how are you personally making yourself known to Litton? Any tips you'd care to share?

[601galapago]

..I am still waiting, and seem to get the run-around at every turn though I more than qualified for a modification. They really have no reason to deny me, yet here I am 5 months later.

Ill stop saying 'seems', because they are looking for "ANYTHING" to deny the modification! I suspect to hear they saw an ant on my house so they are declining the modification. ... this wouldn't surprise me.

dw

[moosies]

Geez, I'm sorry dw. I was hoping Litton was getting it together but appears not to be the case. Hang in there.

I emailed a bunch of NACA people today as well as Litton peeps, but so far no replies.

[moosies]

Well, that was a watse of time - not one response from NACA or Litton.

Where are all the Litton people???



(I hope they've all gotten their mods and have moved on!)

[nitag]

I will be making my 6th trial mod payment at the end of this month.. Most of us are all on trial mods and update on our original posts.... I am frustrated actually beyond frustrated but I guess there isn't nothing I can do at this point.. I had my mod had the paperwork and then was told WAIT your now being put into the Government plan and we gotta start all over... When I call Litton I am told I am in the final stages whatever that means.. But search Litton posts and you will find the updates there..

[moosies]

Hi Nitag, I truly thought you were one of the only success stories I'd heard from Litton loan. Sorry you're still in limbo.

I heard today that while all my paperwork is in order NO-ONE has looked at my file yet, it is pending review. I asked what pending review meant and Lorren told me it means it is sitting in someones stack on their desk. Nice.

[nitag]

Yea me too.. I think april might have gotten her paperwork but I haven't seen it posted yet... I will make a phone call tomorrow to see if there is any update or any missing paperwork.. Still just playing the game I guess that's all we can do for now.. I always love Littons responses.. They seem to know how to make us feel better now don't they....

[aprilware2]

Originally Posted by nitag

Yea me too.. I think april might have gotten her paperwork but I haven't seen it posted yet... I will make a phone call tomorrow to see if there is any update or any missing paperwork.. Still just playing the game I guess that's all we can do for now.. I always love Littons responses.. They seem to know how to make us feel better now don't they....

Nitag I havent gotten my paperwork yet. Alot of Litton reps dont know what they are talking about. I was told it was coming Fedex then regualr mail. I call everyday but they still say it was sent on the 30th of September still. I should have gotten it by now anyway. I call loss mitagation department only. I have the direct number if you want it here you go 1-866-416-1656 .

[aprilware2]

As of today NO PERM MOD in the mail. IM really getting upset now. I want this over before xmas

[nitag]

April I agree with ya... I want this done with. I talked to ERT dept today and they said my mod was worked on twice on Oct 7th and changes were being made to my business plan. I asked what is my business plan, she said that is what they are now calling the mods that are in review (first i heard of that one)... She said there is no estimate as to when it will be completed but I am in the final stages. It will go to final review for approval then be typed up and mailed out but she said she didn't know when that would be..

[MomOf1]

I too am in the "final stages" of the workout plan. I made my final 3rd trial payment at the end of September and now call them at least twice a week to see where I am at in the process. They still do not have any concrete numbers for me, but did say that all my paperwork was in order. I didn't qualify for a true modification as supposedly I make too much money and can afford my house payment....HA. Then why am I filing for BK? The fact that I have a first and a second doesn't seem to qualify me for a true modification so they are moving me from an ARM to a fixed. The reason I am filing the BK is because between the "new" fixed amount on the first, my second and a couple of credit cards I can't afford to make my payments. I really want to keep my house so am trying to hang in there.

I have been going through the modification process for a year now. I will keep you posted if the modification actually goes through. Although at this point I am not holding my breath.

[moosies]

Nitag, April, & Mom, I am hoping and praying for you all to have this resolved soon! You were all submitted before me and I won't believe I have a snowball's chance in hell till I see you all post you've received your final signed paperwork. Then maybe I can get my hopes up that someting, anything will happen with my mod. Good luck to you all.

[aprilware2]

Originally Posted by moosies

Nitag, April, & Mom, I am hoping and praying for you all to have this resolved soon! You were all submitted before me and I won't believe I have a snowball's chance in hell till I see you all post you've received your final signed paperwork. Then maybe I can get my hopes up that someting, anything will happen with my mod. Good luck to you all.

Thanks moosies Im still being told it was sent on the 30th of September and it takes 10-15 days for me to recieve the my final paperwork.And that im in closing.

[MomOf1]

Originally Posted by aprilware2

Thanks moosies Im still being told it was sent on the 30th of September and it takes 10-15 days for me to recieve the my final paperwork.And that im in closing.

Why don't you call the ERT (Executive Resolution Team)? 1-713-218-4592. I wouldn't talk with Loss Mitigation again if I didn't have too. Ask the ERT to look into your paperwork to see if it was really sent. Loss Mitigation will tell you 10 different stories depending on who you talk to. They gave me the run around for months and months. I called the ERT after finding their number on this forum and had a modfication workout plan in a matter of weeks. Now just waiting for the final paperwork.

good luck

[aprilware2]

Originally Posted by MomOf1

Why don't you call the ERT (Executive Resolution Team)? 1-713-218-4592. I wouldn't talk with Loss Mitigation again if I didn't have too. Ask the ERT to look into your paperwork to see if it was really sent. Loss Mitigation will tell you 10 different stories depending on who you talk to. They gave me the run around for months and months. I called the ERT after finding their number on this forum and had a modfication workout plan in a matter of weeks. Now just waiting for the final paperwork.

good luck

MomOf1 ERT said the same thing that my perm mod was sent on the 30th of September as well. I got an manager name Lee last week he said it was sent out till probaly the 6th of Oct. Well I called my post office to tell them im looking for a package that is certified. So they will gve me an call so I be at home to sign for it or go pick it up.And Litton still dont have copies of what they sent yet.Cause they faxed me an copy of my trial mod and I wanted them to fax me the perm mod.

[nitag]

I called this morning and said I was still in review.. .

[aprilware2]

Originally Posted by nitag

I called this morning and said I was still in review.. .

I called Loss mitagation and talked to this guy name Henry . He could see my permenant mod. He gave me my info about the mod 5 yrs at 902.00 But it started at the first of Sept. Well litton told me to pay 735.00 until now. So I have to send in the defirrence for last month. And send in 902.00 for this month.I asked can I use the money sitting in my forbearance suspense account to use for my loan modification. And the rep said I had to fax over that request in writing as he asked his supervisor and it was fine to do so.I have 1570 sitting in my forbearance account right now why not use it for my perm modificationAlso I asked him to fax me an copy and he toke my fax number. And the mail ran and I still havent recieved anything yet

[gusjen]

called today...still in "final review"

[601galapago]

I don't think these folks really want to modify anyone's loan.

Today I received a band new trial modification packet, as if I were starting all over again. My 1st trial payment was in July.

dw

[nitag]

After I posted yesterday about still being in review, a few hrs later I called the Loss Mitigation number posted on here. The lady I spoke with said I am in the Final Stages, "whatever"... She said my account was worked on Oct 7th and again Oct 9th. I love how they always ask if I've made all 3 of my trial payments.. Kills me.. Ummm yeah, working on my 6th... I do believe they want to modify the loans but I believe that it's all so new and they have so many and not enough help.... I really don't think they want my house.. Its a nice house but they wouldn't make anything by Foreclosing on me... I am way underwater and it's getting worse daily... My same house sold for $125,000 - I owe $360,000... Just wouldn't make sense..

[Martymkn]

Hello Nitag I am new to this forum but have also been dealing with Litton for a year now with no success. I have done EXTENSIVE research on Litton and this whole foreclosure fiasco. Let me tell you, unfortunately Litton DOES want your home to go into foreclosure eventually. On these forums I keep hearing people ask "why do they want my home they will lose more money foreclosing" but most people are missing one key factor. Servicers like Litton do not make as much money if they modify your loan.

Almost all "saavy" servicers have two goals and only two goals:
To foreclose or preasure you to get current...thats it. these are the two options that make the most money for Litton.

They will stretch out the default and foreclosure process as long as possible so they get as much fees as possible. I am using fees to cover all the crazy things they will charge you for by the time they foreclose. The list goes on and on. This is why everyone is getting "trial mod. payment plans". They are using HAMP to get more money out of homeowners that they wouldnt have recieved otherwise. Trust me, when you have eventually made many more than 3 "trial payments" you will at some point preassure Litton to give you an answer on your final modification. When this happens as it did with me, you will get an eventual denial for any reason they can come up with.

Litton as the servicer will eventually get paid all the money and bloated fees they are owed for being the servicer. Remember they do not own your loan and they can care less about the bank or investors that do or you. Litton is a money making machine that is why G.S. bought them.

Ever wonder why every time you call they ask you if your going to catch up on your past due amounts even if your in a "trial mod"???? Because that is the only other thing they really want. If you catch up and pay as agreed what does Litton get? FEES for the next 30 years for servicing your loan.

People please wake up and understand that Litton and most (not all) servicers only have their best interests at heart no matter what they tell you. I fear most of you on this great forum are being strung along with these trial mods and you really are never going to be given a permamnent one. I hope i am wrong but do your research for yourselves. Dont reserach just loan modifications but research the Servincing industry. They are the current bad guys that are makking a killing off taking your home. THEY DO MAKE MONEY REGARDLESS OF HOW MUCH OF A LOSS IS TAKEN ON SELLING YOUR HOME!!!!!!!!

[Martymkn]

By the way if anyone has any questions regarding Litton for me and what you are going through with them please feel free to ask.

I have spoken to probably a hundred employees at Litton including the notorious Benny Hibler who is supposedly a V.P. Once you get to him that is about the top of the food chain at Litton regarding loan mods.

I suggest any of you dealing with Litton to be very nice to the front line people when you call (yes I know it is hard). I have had some great conversations with employees who obviously don't like their job very much and it has been very insightful.

One guy told me (after a half hour conversation) that Litton really will deny everybody they can for any crazy reason they can come up with. He was new and obviously felt really bad for the customers he talks to. That is rare however most the reps. have the same old BS to spew at you but I got lucky a couple times.

[lennox]

Marty, maybe it is wishful thinking, but I hope you are wrong about the servicers always making money on foreclosures.

Just my opinion, but I think it is moreso that the investors may be wanting to take their "loss" "now," for tax purposes. None of it seems to make sense.

You would think that when the two parties sign a contract, only to find out later that the orginal contract benefits neither of them, both parties would be willing to rewrite it.

T

[Martymkn]

First off I never want anybody to lose hope. I have but sometimes that is all people have to stay sane I know.

The problem is that many if not most of the people that have sub-prime loans have had their loan spliced up and sold as securities. The sad fact is your servicer wants to make you think they are working closely with the investors but this is simply not the case. Most of the time the investor is simply trusting that the servicer is doing what is best. How many people have been told the investor denied the mod even though it makes no sense. Well it doesnt make sense and your servicer lied to you. Servicers are using the investors as an easy way to deny a mod. plain and simply.

In many states foreclosurs are being posponed by jusdges now because these servicers can't even prove who owns the mortgage. Its a huge mess. Do some research and look up MERS on google. If MERS is associated with you mortgage as it is with mine, you do have possible legal remedies to delay or stop your foreclosure.

Luckily the investors and the media are slowly catching on to this fact. Just watch in the months to come. These corrupt servicers are really going to come under fire. Litton is one of the worst and have been for years.

I am just saying not to trust what they tell you and always plan for the worst. These trial payments are just bad news as many are figuring out. I mean come on some people are on their 6th trial payment now?

The servicers tell the media they are behind and don't have man power to keep up. Total B.S. maybe this would fly a few months ago but not now. Take Bank of America as an example. They can handle Millions of credit card holders phone calls 24/7 with no problem but they cant handle loan modifications in a timely fashion?

[Martymkn]

Lennox...go to this link and read this article. It will help you understand what I am talking about regarding servicers.

Firms are getting billions, but homeowners still in trouble | McClatchy