Litton Loan SUCCESS!!!

[coolmomincanton]

Hello,
This is my first post. Your website is very helpful. I became behind on my rent because the father of my four children wasn't paying child support and I had medical treatments that I had to spend alot of money on meds. My payments due are Nov, dec, jan and now February. I tried to pay everything on Feb 16, only to be told there are now reinstatement charges. Litton Loan rushed everything to their attorney. The attorney wouldn't give us much information. They went and filed in the courts for the foreclosure after they new we wanted to pay the past due amount. The reinstatement letter shows not yet billed attorney fees of 2,000. How sneaky.
Anyway, we called Litton Loan back in December and told them why we were behind on our payments. They told me they don't do loan modifications and that if I didn't pay the payments in full they wouldn't accept anything.
I called Larry Litton Sr. at his home residence. That was the only way someone would call me back. I am working with someone now at Litton Loan to see if we can get a loan modification. If they can't help us then we will have to do a chapter 13. Funny thing is, Larry Litton is part of http://www.com.state.oh.us/admn/pub/FinalReport.pdf The Ohio Foreclosure Prevention Task force.

Let's see if something can be done here. I am so upset over all this.
The BPO came back at 135K, we owe 138K including all the late fees and interest. Most of the 3 grand over the 135K is interest. Our extra income per month is around 400.00 and that is if we are frugal and do not go out for entertainment. Can someone advise me on the QWR? I asked them for one. They said " Please give customer service 60 days to investigate your request, make sure you continue to make your monthly payments". LOL they wont accept them!!!

Help Me!!!

D.

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

Thank you for bringing this to the level that you called that smug, jack@ss at his home and told him that you were suffering and need help and his organization was not willing, able or compassionate enough to provide help. They are a rotten bunch, along with a few others. Keep in mind they were created to service sub-prime and the goal there for years was to own your property. Now that goal is a little bit stupid, as it could cause them to go out of business....some of them are at risk these days....they are truly struggling to stay in business at this point with these problems....Ocwen and Litton are two of the ones with issues....

They give lip service to the programs, they lie, they are truly fairly rotten and not so nice. They speak with forked tongue, want to look good to the press and the world and in their own little world....well you get the picture and have apparently with that call to Larry at home...I love that.

They have to give you the QWR information that you request...they must under the RESPA section 6 or be in deep "stuff" with HUD and FTC...that is who regulates those schmucks.

What have they proposed in this case and maybe I can come up with some ideas that you can run up their flag pole to see if it can be saluted by the powers that be. Meanwhile....

QWR - mail it to the address for servicing they must comply, mail another to the main address, in all mail 3 by certified, return receipt,it is a serious regulation put in place to tame these guys, if they do not, report them to the FTC and HUD, HUD is starting to investigate these servicers, one was slated yesterday to go through some very intense scrutiny...very intense for servicing abuse....

QWR - there are examples of the letter in the Tool Box. In that letter demand your Life of Loan History, copy of Note, Deed of Trust, Riders, all Assignments of the Deed of Trust, TIL, Right of Rescission (if refi), Lender Final HUD-1, copy of initial loan application and final lender loan application, all disclosures and all loan documents in your file, copy of appraisal. Send this three times certified return receipt required and also send it to the Broker, Title Company and all others in the Chain of the Transaction.

This thread has a really good example:

My Countrywide escapade and Hi!

[coolmomincanton]

Thanks for your help Poppy. How long does it take for the Mortgage servicer to do a preliminary approval test? We have been waiting a week. When I finally get served with the Foreclosure papers, and I have 28 days to respond, what usually happens? Will I get a court hearing? Do judges care why we become behind on our mortgage and that we called litton loan many times to make payments?

Thank you for your help!


D

First things first the Modification process should help stay the foreclosure process to some degree, granted that sometimes is overlooked at these lousy servicers. Have they reinstated the foreclosure or is there still a date on the records. If they have stayed the date you need to fax a letter of confirmation to them to reflect what you understand the stay or the new date to be...do that to Litton and the Attorney for Litton to cover your @ssets.

Meanwhile the modification process takes time, there are so many in the system at this point. You have to be proactive and call, call, call and fax, fax, fax....every day frankly. This is a second job for you.

Now as far as the foreclosure court thing...I am not an attorney, please call NACA and get one referred to you in your area for this thing. Do not use a BK attorney to do it either because BK will limited and curtail to nothing your ability to modify the loan and make things worse in some cases. Please do seek legal advice on the actual foreclosure issues, we can not advise you on that process as it is very complex and requires attorneys to assist you in that arena...a court room.

If your date is stayed, get that confirmed, if not, please call NACA and get an attorney, NOW. Also try HOPE 888.995.HOPE or ACORN www.acorn.org, they can intervene and moderate in some of these situations.

[schwefls]

Hi, I as well am a Litton customer, going through the same thing you are. Although I emailed Larry Litton and every other V.P. at the institution, I wish I had the nerve to call him at home, good for you. Well, after my email to all the above cc'n george bush and hillary clinton I did get a call from the Executive Resolution Team, I am one week into my modification process after begging for a year. To date, they have only done the appraisal and as of yesterday my modification was in "processing" Expected wait time 45-60 days. Don't know what I will do if denied, very very nervous amny sleepless nights.

[coolmomincanton]

Hi!
I did speak to a lady at 955Hope last week. She wrote up a reccomendation for a loan modification and litton did receive it. They have not stopped anything with the foreclosure. Do they wait until they get an approval from the bank to freeze it? or would they do it now during the time the loss mitigation department is reviewing my file?
Thank you for your assistance.

D

You need to have the HOPE people get on the ball and have the foreclosure stayed while you are in the modification process....NOW....

Call Larry at home again, and tell him that you are in the process and request a 45 to 60 day stay to relieve the issue while in modification...do that fast before he changes the home number

They should stay it while you are in the process it is a good faith thing on both sides, ya know....

Oh call Larry...he should be involved with this mess, lets him get a real idea of what is what and that there are people that need help NOW!!!!

[coolmomincanton]

Here is what I did. Larry wasn't home. It must have been his maid that answered. I got ahold of one of his assistants in his corporate office. She is talking with the VP in Loss Mitigation and the executive retion person I have been working with to see what they can do. I also faxed letters and asked for the Qualified Written Request. I am forwarding my letters to everyone I can. I have been killing them all with kindness so I hope they will help me. I left two messages with the lady at HOPE to call me back. I will let you know what happens. I am waiting for Litton to call me back. We will see what happens!!!

D

[schwefls]

How the heck did u get his home number, no that I want it. And if you don't mind me asking whom are you dealing with in the executive offices

[coolmomincanton]

Larry Litton Corporate Office 713-966-8800. Call there.

The guy I am working with is Sean. He just called me back and said that they can't do a stay because our Foreclosure just started. He said that our sale date isn't until Aug 5th. Does this make sense?

D

What state are you in.....need to know.

[coolmomincanton]

Originally Posted by Poppy

What state are you in.....need to know.

I am in ohio.
Thanks

I have posted the Ohio Law below and that explains why so long, plus they are very, very busy in Ohio these days.....I do not think that you are going down that road...you have been proactive and have the time...apparently they are overwhelmed there and that means that time is on your side. I till think that you need to then fax them and reference the date they gave you and confirm that so that you have covered the bases as it were.



Ohio Foreclosure Law


- Judicial Foreclosure Available: Yes

- Non-Judicial Foreclosure Available: No

- Primary Security Instrument: Mortgage

- Timeline: Typically 150 days

- Right of Redemption: Yes

- Deficiency Judgments Allowed: Yes

In Ohio, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

Generally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the clerk of the court then advertises the property for sale.

At some point prior to the scheduled date of foreclosure, an appraisal of the property must be made by three disinterested freeholders of the county. A copy of the appraised value must be filed with the court clerk and the property must be offered for sale at a price of not less than two-thirds of said value.

The sale may not take place until the notice of sale has been published once a week for three (3) consecutive weeks in a
newspaper of general circulation in the county in which the property is located. The sheriff will conduct the sale at the courthouse and the property will be sold to the highest bidder.

Lender's may obtain a deficiency judgment and the borrower may redeem the property at any time before the court confirms the foreclosure sale by paying the amount of the judgment, plus costs and interest.

Ohio foreclosure actions are commenced with the filing of a complaint, naming as Defendants all parties having ownership interest, lien or other encumbrance on the property. Service of the summons is perfected generally by mail, or by publication if a party cannot be located. Unless the mortgagor files an answer to the complaint within 28 days after service of the summons, a motion for default judgment can be filed. Otherwise, the case will proceed based upon a motion for summary judgment or trial. A foreclosure decree setting forth the rights of the various parties is submitted for approval by the court. Once the Ohio foreclosure decree is approved and filed, an order of sale is issued to the Sheriff, who then retains, 3 fee holders to act as appraisers.

The Sheriff will schedule the Sheriff's Sale for an auction, and publish a notice of the Sale for at least 30 days prior to the Sale date in a newspaper of general circulation in the county in which the property is located. The minimum bid at the Sheriff's Sale is 2/3 of the Sheriff's appraisal proceedings. The sheriff will conduct the sale at the courthouse and the property will be sold to the highest bidder. Unless there is an irregularity, the court files an order confirming the Sheriff's sale. The mortgagor has a statutory right to redeem the property by paying the balance due together with the court costs, only until the filing of the order confirming the Sale. Uncontested foreclosures generally take 6-10 months.

Ohio foreclosure law states that evictions can be accomplished through a writ of possession through the Sheriff, in the event the occupants were named as parties in the foreclosure action and served with a summons. Otherwise, possession may only be recovered through a municipal court eviction action. In ether cases, the process takes approximately 6 weeks until the move out

Deficiency judgments are fully enforceable, but there is a 2 year statute of limitations to collect in the event judgment was rendered prior to confirmation the Sheriff's sale and the property was a dwelling with 2 units or less.

[schwefls]

Thank you, I will keep you posted on how I make out, keeping my fingers crossed

[coolmomincanton]

Hi
Just wanted to let you know I am still waiting for a preliminary approval from Litton Loan. I am waiting for the executive resolution person to call me back. This is so stressful. I am so stressed! I just want to know if we will be approved for a loan modification!!

D

[coolmomincanton]

oh i forgot to ask a question. Their is a lein on our house that is the previous owners. He was deceased and the family paid off the debt before we bought the house and it was supposed to be removed. I called bank one, who is the lean and they said they can't pull up any information. What do we do? Does this have anything to do with RESPA or TILA???
Thanks,

D

Nope, title issues, the title company did not record the proper document to the county to remove the lien at some time in the history of the property title chain....who is the lien to and what for and which title company....Nothing to do with RESPA, just sloppy title work from the title company.

Call the title company that you closed with and ask them to record the release of lien, satisfaction, whatever or indemnify against the Lien....they had to issue clear title to you and are responsible for that issue.

So, call 'em and gripe......let me know there are ways to have lost lien releases or Sats file....Bank One should be able to reissue Sat if necessary and the title company knows how to do that...if not they are dolts....

[Moe Bedard]

Bob,
You have your own thread now so we can answer your questions in your own post.......it is in this same section titled "My Litton Loan Story"
I will move this to there and keep posting there.....
It just makes it easier to follow everyones story that way...
Thank you

[kshel02]

Coolmomincanton,

You are my hero. I just saw that you called Larry Litton at home. You should get an award!!!

Kerry

[coolmomincanton]

Hello Everyone,
After many phone calls and many restless nights, Litton Loan Loss Mitigation Department called me and said we are approved for the modification. We will have the paperwork within two weeks and we need to sign the papers. Here are the terms:

We were on a 9.75% ARM, scheduled to increase 8/1/08 (maximum 15.75%) with a balloon payment at 20 years.

We got approved for a 7.50% fixed rate for the rest of the loan 28 years. The balloon payment is still there but we should, let me say should hopefully be able to refinance within 18 years. I HOPE!!!

The cost was 500.00$$ that we have to send in to do the loan modification, cashiers check. First Payment due April 1, 2008. Our payment was lowered $100.00 per month. I am so excited. I will believe it is happening when we get the papers and they accept our April payment. I am so excited. I know we wouldnt be able to afford our house when the rate would increase in august. I can't wait to see the court docket say FORECLOSE CANCELLED!!! or whatever legal jargon they use!!!!

Thank you for your help and support!!!

D

[schwefls]

Congartulations, I only hope I have the same success, may I ask were you past due? How long was the process from start to finish?

[Moe Bedard]

That is Great News D,
Please do let us know when you receive the paperwork........

Congratulations I am so Happy for You

[coolmomincanton]

I owed for Nov, Dec, Jan and Feb. We started Loan Mod. on Feb 26th. Total time it will take is like 5 weeks by the time we get the documents and send them back.

Originally Posted by schwefls

Congartulations, I only hope I have the same success, may I ask were you past due? How long was the process from start to finish?

Way to go.....



CONGRATULATIONS !!!!!!!!!!!!!!!!!!!!!!!!!!1



I am so happy for your family....so very happy.

[schwefls]

Did this work on as you had explained above I received a call yesterday that has me concerned with my modification