- Report: #357351
Complaint Review: LITTON LOAN - HOUSTON Texas
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LITTON LOAN
PO BOX 4387 HOUSTON, 77210-4387 Texas, U.S.A.
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LITTON LOAN LITTON LOAN DRAGGING FEET ON LOAN NEGOTIATION, FEES KEEP GOING UP HOUSTON Texas
I have contacted Litton Loan several times over the past two years to try and get my loan renegotiated. The first time about two years ago I was insulted by the rep stating I must not care about keeping my home as I am not responding, yet when I called there were no people at all to talk to and had to leave a message every time. It took them still a week to get back to me and if I was not right there to answer the phone, they left a message to which I call right back, and it started all over again taking them another week to get back to me. My payments have gone from about $2900 a month to about $4800 a month at peak. I had to file 13, and a portion of past due is included. I have tried so hard to keep making the $4000 per month payments and it is getting harder and harder.
6 months ago in/around February 2008 I started contacting them again to renegotiate my loan. I have income and can do a lower payment, just not $4000 plus a month (not including taxes and insurance as I have paid those myself).
This is a refi'd loan, not an origination, and being self employed I am thrown into this stupid bracket which personally I think is just a way for lenders to rip us off as anyone with my credit score at origination in the mid/high 600s could have gotten a much better loan.
When I started contacting them a couple years ago, I had lots of equity and I believe they dragged their feet hoping I couldn't do it so they could actually repo my house and make a profit, but that didn't happen. So now I am pretty even and if I am shy it is not by much BUT they are making more money dragging their feet with my HUGE mortgage payments than if they were to work with me.
I TRULY FEEL LITTON IS PURPOSELY DRAGGING THEIR FEET SO THEY MAKE MORE MONEY OFF ME.
I immediately responded to all their requests and most recently they sent me a letter dated June 11, 2008 requesting financial info and etc, which I sent June 20, 2008. It is now July 30, 2008 and I have received nothing from them at all.
Tons of fees have been added to my payoff/balance, and they keep adding up the longer they take. 6 months? Come on. Why do I have to keep paying for their lack of attention?
Litton Loan is trying to get me to lose my home, that is the only thing that makes sense. How can they be so flippant? I have lived in my home for 5 years now and this is rediculous.
How I got into this stupid loan is another issue, just say the broker literally lied to me and when it came to signing loan docs it was too late. My loan sold almost immediately. Figured I would refi, but plummeting economy has not helped. I have NEVER been upside down until this year and it is nominal compared to the rest of the industry. I even bought 100K less than I was approved for 5 years ago. I am not irresponsible and in fact have been doing everything I can to "fix" what this broker got me into.
There should be timelines banks have to follow. I should not have to keep paying twice a mortgage payment because a lender decides to have it that way instead of work with me. This is ABSOLUTELY ABSURD!
T
Lakeside, California
U.S.A.
6 months ago in/around February 2008 I started contacting them again to renegotiate my loan. I have income and can do a lower payment, just not $4000 plus a month (not including taxes and insurance as I have paid those myself).
This is a refi'd loan, not an origination, and being self employed I am thrown into this stupid bracket which personally I think is just a way for lenders to rip us off as anyone with my credit score at origination in the mid/high 600s could have gotten a much better loan.
When I started contacting them a couple years ago, I had lots of equity and I believe they dragged their feet hoping I couldn't do it so they could actually repo my house and make a profit, but that didn't happen. So now I am pretty even and if I am shy it is not by much BUT they are making more money dragging their feet with my HUGE mortgage payments than if they were to work with me.
I TRULY FEEL LITTON IS PURPOSELY DRAGGING THEIR FEET SO THEY MAKE MORE MONEY OFF ME.
I immediately responded to all their requests and most recently they sent me a letter dated June 11, 2008 requesting financial info and etc, which I sent June 20, 2008. It is now July 30, 2008 and I have received nothing from them at all.
Tons of fees have been added to my payoff/balance, and they keep adding up the longer they take. 6 months? Come on. Why do I have to keep paying for their lack of attention?
Litton Loan is trying to get me to lose my home, that is the only thing that makes sense. How can they be so flippant? I have lived in my home for 5 years now and this is rediculous.
How I got into this stupid loan is another issue, just say the broker literally lied to me and when it came to signing loan docs it was too late. My loan sold almost immediately. Figured I would refi, but plummeting economy has not helped. I have NEVER been upside down until this year and it is nominal compared to the rest of the industry. I even bought 100K less than I was approved for 5 years ago. I am not irresponsible and in fact have been doing everything I can to "fix" what this broker got me into.
There should be timelines banks have to follow. I should not have to keep paying twice a mortgage payment because a lender decides to have it that way instead of work with me. This is ABSOLUTELY ABSURD!
T
Lakeside, California
U.S.A.
1 Updates & Rebuttals
T
Lakeside,California,
U.S.A.
UPDATE: Litton Loan Modified Loan
#2Author of original report
Thu, December 11, 2008
I have to say, it only took a year :-) but they FINALLY came through. Now I need to do my part. THANK YOU
