May be in real trouble here!!!

[pete325]

Wow, many of you are going to jump on the "it's your own fault" bandwagon, but I need some advice. I had our mort. modified back in Jan. through a Loss mitigation mediator that Litton Loans Ser. hired. I was at that time so afraid for my family of losing our house that we signed the first offer that came to us. I now think that I screwed up. Should I have negotiated more, or should the mediator told me that I could renigotiate? Since taking the mod, we fell behind again due to job loss, but know have regained the financial stability to pay a "normal" payment. First loan was @ 10.75%, mod. was 8.00, still think that they took advantage of the situation, but I am now looking to HOPE to try and remod. again, and Litton is telleing me that they will not do it due to the last one only being 9 months. My question is do I have a chance, and do I have any case for not being told the first time that I did not have to accept the terms of the first agreement? Once again for all those that have their finances under control, good for you, and I encourage you to find someone in need, and teach them to follow in your footsteps.
Thanks

[Moe Bedard]

Hi pete325,

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

You won't be able to find the "it's your own fault" bandwagon on this forum.........we don't make judgements like that here............we are more of a what can we do to help change the situation bandwagon..........and you definately won't find the finances in order types on here either.....


The modifications given are up to the investors on the loan and with Litton as the servicer they will usually tell you that they only allow one modification.......so I am not sure that HOPE will be able to help you with that..............

What you may want to do instead is to use NACA to draw up a modification proposal with you to submit to Litton and your investor.....
click on the link for the info........
https://www.naca.com/refinance/refinanceTenStep.jsp

[schwefls]

Hi Pete welcome to our non-judgemental forum. I had litton, same interest rate and same offer. I accepted it. No I did not renegotiate I was afraid of losing a good thing and yes I have since fallen on hard times again. I wish I had handle things differently when it came to accepting it. But I didn't and I will not beat myself up about it nor should you. My suggestion is to contact the Executive Resolution Team at Litton and explain your situation. best of luck, do not give up, and do not beat yourself up.

[pete325]

I appologize for the assumption about negative comments, and I have noticed since reading on here, that it is very different from other blogs, or comments to news stories. I appreciate your advice, and will move forward with this information.
Thanks

[Moe Bedard]

No Problem......


Please keep us posted on your progress.............

[Lisa in MN]

Pete- welcome from one in MN who most definately does not have finances in order!!! We were just fortunate enough to get an excellent loan mod just a week ago.
You will find no judgemental bandwagons here AT ALL. This was the first place I didn't have to feel ashamed because I was able to see there are many others just like me, or even in a worse situation. It helped me keep things in perspective because I could see that I was not alone, and that things could always be worse. The other plus is everything is completely anonymous and you will not be bombarded with scams and such. *** and Moe are very careful about that and I respect it immensely. It would be alot more lucrative to take $$$ from scammers to advertise, or sell email addresses, but there is way to much integrity with the founder of this site, Moe, and *** who helps him, to do that.
Breath in and out and read all the various forums here because you will find someone in a similar situation. I stated with the Stop Foreclosure thread and went from there.

You are among family Pete.

Lisa ( might like a "damn its gonna be a long winter" bandwagon)