Req'ing Mod from Litton & GMAC...just starting

[hlane]

UGH!! Litton has had all of our info since mid-Jan. They've told me over and over they have everything they need.

Saturday, 3/28, we recieved a letter in the mail requesting two more paystubs for my husband, a profit/loss statement for me since I am self employed, last filed tax return documents, and two additional forms that we were required to fill out and sign.

After having our original info for over two months they gave us less than two weeks to gather all of this addional info and get it back to them. If they didn't recieve it by 4/8 they would close our case without a modification

We faxed over 31 pages of additional info that they were requesting last night so it will interesting how long they take this time

It looks as if they are trying to get us qualified for the new Home Affordable Modification program so I guess the additional info was required for that reason. According to the online calculator I used we are at about 38% right now, if I did it correctly.

So we're still waiting with our fingers crossed. Our loan is going to reset again in July so I hope we hear something soon.

[hlane]

Forgot to mention, GMAC denied our mod request. We orginally were too far in the hole by about $300 a month. I am picking up a second job which then threw me over the other way and with that job I will now make $300 too much each month. I am giving up on them right now until I get things with Litton straightened out.

[Dan Bailey]

hlane, hope it works for you! As far as the second goes....it's a whoole lot less stressful to worry with one at a time

[Buskerfellow]

Have you been offered a loan mod?

[hlane]

no, nothing yet

[hlane]

I'm so nervous! Just called Litton and spoke to loan mod dept. They are saying they processed my additional paperwork and mailed me something on the 16th. They were not able to tell me any details and said it was sent regular mail. I am thinking it's not looking good for me since others have said they recieve a call first from Litton with all the details and then a loan packet is sent by Fed Ex.

[Buskerfellow]

I received a letter from Litton that reduced interest from 10.5% to 9%. This is what the loan was before it adjusted in Dec 08. This is no help to my situation. I am still waiting NACA results, restructure papers were submitted on 3/11/09.

[Brenic]

Originally Posted by hlane

I'm so nervous! Just called Litton and spoke to loan mod dept. They are saying they processed my additional paperwork and mailed me something on the 16th. They were not able to tell me any details and said it was sent regular mail. I am thinking it's not looking good for me since others have said they recieve a call first from Litton with all the details and then a loan packet is sent by Fed Ex.

Maybe you shold call and ask them if it was an approval or denial. Just a thought.

[hlane]

Originally Posted by Brenic

Maybe you shold call and ask them if it was an approval or denial. Just a thought.

The person I spoke in the loan mod dept with would not give me any info other than a letter was sent.

I ended up calling back this afternoon to the executive resolution dept. The gentleman was very nice, he said he didn't have access to details but what was sent was information for a three month trial loan mod under the new goverment plan. He said if we meet the requirements of the trial they will perm mod our loan. Now just waiting for the letter to find out the details.

[rh1138]

I'm helping a family friend with a Mod from Litton as well. I called for an updated status yesterday and found out that it was approved and papers were mailed on the 16th. I was given all the payment information down to the penny and that it was a trial modification.

After hanging up, the payment information sounded a bit low, so I decided to call back and find out if they had extended the term to 40-years (as I've read that this is one of the guidelines with the new Home Affordability plan)... 2nd rep told me that there was no modification in process.

Confused I called in a 3rd time, and they initially told me there was no modification. I asked, "I was quoted exact dollar figures by the first rep, do you know where this information came from?". She proceeded to look into "another system" where she found the modification... and yes it was approved.

I guess we will wait another week for this paperwork to arrive to consider it a success story... but that's my experience.

[hlane]

Thanks for that info rh1138...I am so anxious to receive the paperwork. I feel like I'm stalking our mailman, standing by the window each day waiting for the mail, lol.

[Abarnes]

Well, I can only hope that I get one too!! They extended my sale date to June 4th from April 30. I have called and have heard all the info that everyone else has heard-Wish me luck!!

[hlane]

If anyone receives their letter or is given any info from Litton could you update when your first "trial" payment is due??

[Brenic]

Originally Posted by hlane

If anyone receives their letter or is given any info from Litton could you update when your first "trial" payment is due??

Yesterday when I spoke with someone they said that just because these were pre-qualified and a letter sent out on the 16th doesn't actually mean that an offer will be given. I'm really tired of the run around, you hear something different from each person you talk to. I was told it went out the 16th, 17th, certified, regular mail, didn't go out. Guess we just wait and see.

Are you guys being told pre-qualified or approved?

[hlane]

Originally Posted by Brenic

Yesterday when I spoke with someone they said that just because these were pre-qualified and a letter sent out on the 16th doesn't actually mean that an offer will be given. I'm really tired of the run around, you hear something different from each person you talk to. I was told it went out the 16th, 17th, certified, regular mail, didn't go out. Guess we just wait and see.

Are you guys being told pre-qualified or approved?

I was told we were being sent a letter with trial modified payment amount. If we meet the requirements (return the signed paperwork & make the trial payments on time for 3 months) then our modification would be locked in. They couldn't/wouldn't give me dates or amounts. It took me two calls to just get that little bit of info. I'm curious if they really don't have access to the info or are not supposed to give it out over the phone.
So no it's not a guaranteed mod until WE meet the requirements but they are offering help is basically what was explained to me.
Hope that makes sense

[Brenic]

HLANE - I kind of gathered the same info from ERT. Maybe I'll call again and see if I can find out if a letter was mailed, they said they'd be able to see it in their system when it's actually mailed.

[hlane]

I googled and found this letter from another mortgage company...wonder if it's the same type of thing Litton is sending us


http://www.hmpadmin.com/docs/10HMP%2...e%20Stated.doc

OR

http://www.hmpadmin.com/docs/10HMP%2...r%20Letter.doc


Of course I'm grasping at straws here

[Brenic]

Originally Posted by Brenic

HLANE - I kind of gathered the same info from ERT. Maybe I'll call again and see if I can find out if a letter was mailed, they said they'd be able to see it in their system when it's actually mailed.

HLane - I bet it is a letter similar to that, but mine is not suppose to be under the Hope for Homeowners, they said it was an internal plan. I called again today and was told that the letter has not actually went out in the mail as of yet, that it was just prequalified on the 16th, but that that does mean as long as we do what the "trial" period says we will be modified and that a trial period is being offered. They said it might be another week or so before the letter gets mailed. hmmmmmmm......if you end up calling them again, could you ask them if your letter actually went out in the mail and if it did when?

[hlane]

OK, I called back too. The lady said she had no info regarding amounts or dates the payments would be due but letters were generated on the 16th. I asked if that meant they were mailed on the 16th she said no, they were generated, sent to the vendors (??) for mailing and to expect to recieve them in 10 to 14 days.

[Brenic]

Hlane - I've done some research and I don't think Litton is participating in the new government plan. They're not listed on the website for companies that have signed contracts and if you go to www.littonloan.com there no longer is the box that says "the whitehouse recently announced" nor does it say it when you call them any longer and when I went to "trouble making payments" section on the website it said, this is not the new government Homeowners modifications.

I'm going to be calling for my normal daily update to see if the letter got mailed.

[hlane]

Originally Posted by Brenic

Hlane - I've done some research and I don't think Litton is participating in the new government plan. They're not listed on the website for companies that have signed contracts and if you go to www.littonloan.com there no longer is the box that says "the whitehouse recently announced" nor does it say it when you call them any longer and when I went to "trouble making payments" section on the website it said, this is not the new government Homeowners modifications.

I'm going to be calling for my normal daily update to see if the letter got mailed.

Hmmmmm, interesting...please update if you find out anything more and I will do the same..thanks!

[hlane]

Brenic,

you are correct...I was just on Littons site and saw this...

Litton understands that customers may experience financial challenges or life changes that can affect their ability to make mortgage payments. With this in mind, Litton may have several options available, including loan modifications, to help customers avoid foreclosure whenever possible. These modifications are not government Home Affordable Modifications, and you will not receive the benefits of the government program through these modifications.

https://www.littonloan.com/fin_info1.asp

[Brenic]

Originally Posted by hlane

If anyone receives their letter or is given any info from Litton could you update when your first "trial" payment is due??

Has anyone received their letters yet? I haven't, and I was originally told 7-10 days which would have been yesterday. I still can't get answers from
Litton, yesterday they said I should have it very soon if I haven't already received that it was mailed on the 16th.......contradicts everything else I've heard.

[hlane]

Mail just came and still nothing. I was told 10 to 14 days from the 16th, not sure if thats business days or not though.

[Brenic]

UPDATE.....yesterday I called and spoke with someone and they told me that they just received an email that 1,600 loan modifications packets went out yesterday and the rest were going out today. I believe these are all for the ones that were pre-qualified this month, that's my assumption. I guess we'll see.