Need Your Advice !!! Please

[Peter Simos]

Litton Loan : I have applied for a Loan Mod from Litton; wrote letters to the top officers, got a form, filled it out, returned it with full documentation. Litton misplaced it for a month, changed my reviewer, and lastly, was told they would make a decision within 30 days. I asked for a reduction on interest, as well as loan value, per the Hope4Homeowners gov. plan.

While I am waiting, received 2 diff. solicitations from 'lawyers' firm for a loan mod service, almost gaurenteing the low rates and lower loan value, for a fee of $3-3.5K.

Can anyone tell me if Litton will,can,does make loan mods where they drop the interest and the loan value? OR, should I try these lawyer's loan mod service and hope I dont get burned???

Any advice to help me with Litton, PLEASE REPLY

Thank You !

[Dan Bailey]

Peter,
So far there has been NO evidence that anyone has received a reduction on loan value or "principle".
So far, it sounds like you have done all the steps to get a loan mod though(interest reduction/freeze)

Personaly, I dont trust solicitations...these people farm data and send out letters to anyone in or near default. Even if they say "guarentee", in the end, the mod is up to the investor-and only the investor.

[Peter Simos]

Has anyone gotten an interest reduction from Litton, or anyone else as a result from a loan mod recently ???

[Moe Bedard]

Hi Peter,

Welcome to the forum and thank you for joining..............

You can clarify your question and save yourself a ton of money by asking Litton if the investor on your loan is participating in the Hope for Homeowners program........please check this out first before you spend money on something that you can do on your own.

Litton Portfolio Retention
1-800-247-9727 ext. 7719