Litton Modification SUCCESS!!

[southpaw]

Ok, a note from one, up to now, silent family taking strength from this forum and its useful info.
We started this process originally with Popular Mort. and were sold to Litton in October. We then started over with Litton in December and have finally after 6 months received our mod. offer. It definitely has been a marathon! It has been exhausting but we finally see some daylight.
We are moving from a 10.40% rate to a 5.25%. This will, after escrow and payment, take us from just over $3500 a month to $2415.78. Quite a savings for a family that has been reduced to one income in the last two months. We will finally have a little breathing room!
We sent our mod docs back to Litton certified overnight (signature required) with a cashiers check attached for the first months payment. We are making sure they have nothing to come back at us to say we did not comply with "their" rules.
Thank everyone again for the great info and support you didn't even know you were giving!

[azpoor]

How long is the modification for at that rate? 5 years? Fixed for life of loan?

[Moe Bedard]

southpaw,


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



Thank you for sharing your success story with us...........I am glad that the forum information was able to help you to get a successfull modification.............

Congratulations!!

[mrbarker]

This is a wonderful result. Congrats. You were wise to send the docs certified mail.

[southpaw]

5 years on the fixed rate and then will tack to the going rate not to exceed 1% more than 5.25%. The funny thing is we received the docs on the 4th and they were due by the 6th. We were not gonna leave any of it to chance. It's like a weight has been lifted from us. We can finally take that deep breath that we had been afraid to take!

[Evan Bedard]

CONGRATULATIONS Southpaw thats an awesome modification!!!

[waitingpatiently]

Congratulations on your modification!!! Do you know if the modification you were approved for the Home Affordablity Modification Plan? Can I ask you if you were paying principle and interest or interest only? I'm just waiting for our decision with WF and the rep. told me one of the hurdles is because our loan is interest only...Great Job!

[Moe Bedard]

waitingpatiently,


This is a Litton modification and they are not following the MHA plan..........they have modification guidelines to follow from their investors.

[davadad]

I too have been reading your posts and are so HAPPY TO HEAR A SUCCESS story. I have patiently been waiting since November 2008 for a modification. We started a forebearance payment plan in October of 2007. We had to put about $8400 down and $3000 of that went to attorneys fees. We were transferred to Litton unknowingly and had a payment agreement with our previous company. We have been paying $3725 each month since. I also call DAILY..... On February 2, 2009 I received a call stating that we were approved and my new rate was 4.89% and should be receiving my package within 5-7 days. Wee after wating 2 weeks I called and was told my MOD was put on hold pending the presidents program details. I waited and continued to pay and then was told in April they would prioritize loans that were on hold and were continuing my MOD. As usual I called practically daily. THe problem was I would talk to a dofferent person and hear different things. (they were always friendly and tried to help) I try to remember they do not know me personally and when I speak to them I need to try to make them realize I am a person. They' speak to thousands of people daily and probably are not all trained in this field. Well in May I was a victim of fraud and $890 was taken from my checking. I called Litton right away and faxed over proof that the monies would be put back in my account June 10th. They agreed to hold my account from going back into foreclosure until the end of May but could not help past that. Now remember we have been paying almost $4000 for 1 1/2 years (not including escrow). I learned the number for Larry Litton's office and called. I spoke to his secretary and told her my story. At first it seemed like she has heard it all already but I continued to tell her my story and she then gave me a direct line to The executive resolution team. She connected me to a wonderful lady who said she will personally handle my account. She has spoke to me daily and even though she tells me that my account is still in review I trust she will help. She in fact called me this morning to tell me that she will be out next week but everyone there knows my situation. I am hoping that I will hear something soon. Does anyone know how long it takes for the review stage? We did go back into foreclosure today but they are holding it till we hear back from investor review. Even though the ERT told me from what they can tell we should be approved. I hope at the end of this long wait we do not lose our home. Everything else is done including the BPO...

[JerzeeGal]

I think every situation is different. I was in review several times. Sent in 40 pages of financials numerous times and it was not until HUD got involved that I finally got a workout plan after 7 months at this thing! I just kept at it except that I was not paying my mortgage every month unless asked to make a good faith payment. I was saving up for the real payments. I have a 3 month trial and will know the details of my modification in September. Not even the crook lawyer who I first hired got these kinds of results. HUD was able to get me a plan in 3 weeks with only 1 phone call!!!! It is not the Home Affordable Mortgage Plan but some other kind of their mirrored plan and as long as I still and saving some money, it works for me!

[davadad]

Jersee,

Wow that is great... Way to stay with it... Well maybe if I do not get results by the end of the week I will call HUD myself..... Keep us informed..


Congrats!!!

[Abarnes]

Davadad, could you share that ## of larry litton with me? I have e-mailed him and have gotten a call the next day, but I have been denied 2x. I need all the help I can get. Thank U.

[davadad]

Absolutely...

The number I called and spoke to his secretary (Tammy) is
1-713-966-8800..... The beginning she was very short but when I started to explain my story she did start listening. Remember, be very nice, let them try to put a face to our voices. They do not know us and I am sure have heard it all..

Good Luck!!

[aprilware2]

Originally Posted by JerzeeGal

I think every situation is different. I was in review several times. Sent in 40 pages of financials numerous times and it was not until HUD got involved that I finally got a workout plan after 7 months at this thing! I just kept at it except that I was not paying my mortgage every month unless asked to make a good faith payment. I was saving up for the real payments. I have a 3 month trial and will know the details of my modification in September. Not even the crook lawyer who I first hired got these kinds of results. HUD was able to get me a plan in 3 weeks with only 1 phone call!!!! It is not the Home Affordable Mortgage Plan but some other kind of their mirrored plan and as long as I still and saving some money, it works for me!

Did you receive an signed workout plan back from litton yet?

[aprilware2]

Originally Posted by southpaw

Ok, a note from one, up to now, silent family taking strength from this forum and its useful info.
We started this process originally with Popular Mort. and were sold to Litton in October. We then started over with Litton in December and have finally after 6 months received our mod. offer. It definitely has been a marathon! It has been exhausting but we finally see some daylight.
We are moving from a 10.40% rate to a 5.25%. This will, after escrow and payment, take us from just over $3500 a month to $2415.78. Quite a savings for a family that has been reduced to one income in the last two months. We will finally have a little breathing room!
We sent our mod docs back to Litton certified overnight (signature required) with a cashiers check attached for the first months payment. We are making sure they have nothing to come back at us to say we did not comply with "their" rules.
Thank everyone again for the great info and support you didn't even know you were giving!

Was you on an trial mod before you got your perm mod ?

[JerzeeGal]

Aprilware2-----I just followed up with Litton Loan. After making our 3rd trial payment, they do not have our fixed modificaition since I was a ble to pay earlier than the 1st so I have to wait longer. I will be sure to post whether it is good or bad. Thanks so much for asking.

[aprilware2]

Originally Posted by JerzeeGal

Aprilware2-----I just followed up with Litton Loan. After making our 3rd trial payment, they do not have our fixed modificaition since I was a ble to pay earlier than the 1st so I have to wait longer. I will be sure to post whether it is good or bad. Thanks so much for asking.

Have You gotten your final mod papers yet?WELL HAS ANYONE GOTTEN ANYTHING FROM LITTON YET?

[601galapago]

NO ! Not at least here...

dw

[MomOf1]

Originally Posted by JerzeeGal

Aprilware2-----I just followed up with Litton Loan. After making our 3rd trial payment, they do not have our fixed modificaition since I was a ble to pay earlier than the 1st so I have to wait longer. I will be sure to post whether it is good or bad. Thanks so much for asking.

curious to know if you have received anything back from Litton yet?

[aprilware2]

Originally Posted by MomOf1

curious to know if you have received anything back from Litton yet?

No but they did tell me my permenant package was to be sent out this week. They cant tell me the details yet as it wasnt generated in their system yet. I will let you know if I get anything . How about ya self any news from litton on ya end yet

[nitag]

I was told the same thing. I should have something soon.. I am in the last stages blah blah blah as I made my 5th TRIAL PAYMENT.. She said oh that is taking a while.. Let me email them for you.. U should get your packet by next wee .. I said I won't hold my breath and thought Gee thanks.. Just get it done already.. Holy cow.. this is nuts...

[art4ari]

Hi evryone... sorry to butt in...can you help me?

I met someone today who is trying to get a mod with litton.. but they told him that even though he qualifies for HAMP, his investor is not following it. So I read in this forum too..

His house will be for auction the 13th of this month. Urgent!

Can you give me an advice and possibly the HUD contact to get him some help? He has 3 kids, single, and very desperate.... i will keep looking in this forum for more info.... thanks a lot...! God bless you.

They wont say who is the investor.

[aprilware2]

Originally Posted by nitag

I was told the same thing. I should have something soon.. I am in the last stages blah blah blah as I made my 5th TRIAL PAYMENT.. She said oh that is taking a while.. Let me email them for you.. U should get your packet by next wee .. I said I won't hold my breath and thought Gee thanks.. Just get it done already.. Holy cow.. this is nuts...

Nitag hey I emailed Litton and the response was your loan modification was sent out on the 30th of September. I gonna wait till the mail run today and see what I get. But they told me it was sent fedex through. But litton doesnt have an tracking number.

[nitag]

April thats great.. Let us know what you get...

[Buskerfellow]

we sent in the first trial payment of the mod in sepember and a month later we were told that we have a court date of tomorrow for litton to proceed with foreclosure.
What do I do?