Litton Loan mod. success

[JerzeeGal]

Well.....from 12/08 to 6/09, I finally have a "trial modification" based upon me making 3 monthly on-time payments. I know nothing else but that the payment is over $1400 less than what I was paying. I mad 2 payments and after the Sept. 1st payment they will notify me of the specifics! The only thing I am guarenteed is to pay atleast less than my original payment that I was not able to make in the first place. I may have to pay back the arrears now in a separate payment or it could go to the back of the loan. I also know that it will be a fixed rate and coming from a variable ARM, any rate woul suit me that makes me financially better off that I was. I will re-post in Sept. with the details.

[amyjeannine]

WAY TO GO... It is called staying on it. Congratulations!

[davadad]

Jerseegal


That is great... It does seem like Litton takes forever (mine since October, nothing yet) but in the end the wait is worth it!!! Can I ask if you were behind with your payments???

[aprilware2]

Originally Posted by JerzeeGal

Well.....from 12/08 to 6/09, I finally have a "trial modification" based upon me making 3 monthly on-time payments. I know nothing else but that the payment is over $1400 less than what I was paying. I mad 2 payments and after the Sept. 1st payment they will notify me of the specifics! The only thing I am guarenteed is to pay atleast less than my original payment that I was not able to make in the first place. I may have to pay back the arrears now in a separate payment or it could go to the back of the loan. I also know that it will be a fixed rate and coming from a variable ARM, any rate woul suit me that makes me financially better off that I was. I will re-post in Sept. with the details.

Have u gotten anything from litton yet?

[JerzeeGal]

Aprilware2-
Nothing!!!!!!!!!!!!!! I keep making trial payments and I have made my fouth of the 3 they told me would get me into a permanent modification. I check online and they are not posting all my payments. They posted my 2nd and 3rd as payments and the 1st and 4th are "forbearance suspense" adjustment postings. I click on "proof of mortgage" and it only shows that I made 2 payments. I called and so did my HUD rep. and people at Litton tell me that they do see the payments and to just keep making them until I get the paperwork. I will also have to send in all my financial documents AGAIN at that time. What they said is that the Forbearance Suspense adjustement postings are payments to use for a future something or other. They have to take two of my payments to add up to one of my original payments which is why they are not posting all my payments.
Basically, my advice to anyone in a trial payment period is to make payments until you get the paperwork telling you what the permanent payment will be and when it is due. If you only make 3 payments and do not make more awaiting the package you will probably disqualify yourself for the pakage and go straight into foreclosure, which is what I was told would happen to me if I did not make my payments. If anyone else had accurate information I would love to hear about it and thanks.

[aprilware2]

Originally Posted by JerzeeGal

Aprilware2-
Nothing!!!!!!!!!!!!!! I keep making trial payments and I have made my fouth of the 3 they told me would get me into a permanent modification. I check online and they are not posting all my payments. They posted my 2nd and 3rd as payments and the 1st and 4th are "forbearance suspense" adjustment postings. I click on "proof of mortgage" and it only shows that I made 2 payments. I called and so did my HUD rep. and people at Litton tell me that they do see the payments and to just keep making them until I get the paperwork. I will also have to send in all my financial documents AGAIN at that time. What they said is that the Forbearance Suspense adjustement postings are payments to use for a future something or other. They have to take two of my payments to add up to one of my original payments which is why they are not posting all my payments.
Basically, my advice to anyone in a trial payment period is to make payments until you get the paperwork telling you what the permanent payment will be and when it is due. If you only make 3 payments and do not make more awaiting the package you will probably disqualify yourself for the pakage and go straight into foreclosure, which is what I was told would happen to me if I did not make my payments. If anyone else had accurate information I would love to hear about it and thanks.

Have you gotten your Final Modification papers. After 4 months of paymen ts they are requestion my separation agreement from me and my soon to be ex husband. I told them at the beginnning he left the home in Dec of last year. They said thats fine and gave them only my income for my household. This is for the HAMP not the inhouse mod. Litton is only doing the HAMP and nothing else I was told by then.

[JerzeeGal]

I made 4 payments, received a letter requiring all the financial datat AGAIN (bank stmt, pay stub, tax return, utility bill, etc) And now I wait for the end of the drum roll! I have no idea if I am getting the arrears tucked to the end of the mtg. or if I have to pay it with another payment, nothing. I have no idea and I am at their mercy!

[aprilware2]

Originally Posted by JerzeeGal

I made 4 payments, received a letter requiring all the financial datat AGAIN (bank stmt, pay stub, tax return, utility bill, etc) And now I wait for the end of the drum roll! I have no idea if I am getting the arrears tucked to the end of the mtg. or if I have to pay it with another payment, nothing. I have no idea and I am at their mercy!

I havent seen one person yet get an final mod from litton? I hope and pray I get this mod before xmas. I cant rest at all just wondering if these people are going to deny me and take my house.

[nitag]

I got the paperwork but since Litton signed onto the government plan I am now being put into that and today they requested a letter from my employer stating my YTD income.. That has been faxed off... i will make my 5th trial mod payment 10/1 - I am thinking this isn't going to happen..

[aprilware2]

Originally Posted by JerzeeGal

I made 4 payments, received a letter requiring all the financial datat AGAIN (bank stmt, pay stub, tax return, utility bill, etc) And now I wait for the end of the drum roll! I have no idea if I am getting the arrears tucked to the end of the mtg. or if I have to pay it with another payment, nothing. I have no idea and I am at their mercy!

Hey have you recieved anything yet? I recieved my FINAL MOD by FEd ex las thursday.