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Litton Loan / They've messed up my short sale

1 United States Review updated:
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Litton Loan suggested I do a short sale. I tried. I came up with three, cash bidders about two months prior to the foreclosure. These buyers were prepared to come up with more money. The day before the sale someone from Litton finally looked at the offers and said, "Sorry, they are too low and we do not have time to negotiate; you should have sent these in sooner." Also, Litton didn't realize they held the 2nd on my house. I had to inform them of that. I cannot believe they are still in business. My credit score is now 526.

During my dealings with Litton, I was constantly bumped around to different people. Each time I had to bring the person "up to speed." So now each mortgage is listed as a charge-off on my credit report. The 2nd has been turned over to LCS collections. They seem as clueless as Litton. The lady at LCS asked If I had a credit card I could put at least $15, 000 on to bring the 2nd current. Anyone see a problem with that?

Va
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Comments

  • Ed
      14th of Nov, 2008
    0 Votes

    got two words for ya buddy HOME IN CREDITABLE PROOF ment

  • To
      4th of Dec, 2008
    0 Votes

    Good luck on a short sale via Litton Loan... here's today's copy/paste from what I'm dealing with:

    "You may want to inform your buyer that this will not be a fast process- as lately it has been taking Litton 3-4 months to approve a SS if it is b/k- from the date we submit it to the b/k department at Litton. If the buyer is unwilling to wait then they may bid on the property at the pending F/C."

    This guy is in Loss Mitigation. Mind you, we filed a Chapter 13 when Litton started raising our payments. Litton entered into a fixed payment plan with us, then filed foreclosure. It's crazy. And on top of that, the short sale apparently means nothing, LITTON WOULD RATHER FORECLOSE THAN ALLOW YOU TO MAKE PAYMENTS AGAINST THE PROPERTY!

    According to the statement above, this guy is telling us if Litton does not approve the short sale by the foreclosure auction date of 1/20/09, then we should have the buyer purchase the home at the auction!??!?! What can make these idiots understand that I am trying to salvage what little credit I have left. Who does that?

    Litton lost a year of payments, a mortgage broker put me in a loan I didn't know I had until closing. The State is investigating. Of course I have pages of this stuff from Litton Loan. Too much to put on a website. It's incredible. Good luck to you. Prayer stopped working for me long ago.

    Tonia

  • Ro
      15th of Feb, 2009
    0 Votes

    After a year and a half I find that I am still listed as the owner. Litton won'y forclose but just keeps growing a negative escrow! I too hope to be notified of a class action suit against Litton someday.

    Ron in Florida

  • St
      11th of Aug, 2009
    0 Votes

    Very similar results with Litton. The attitude of the negotiator (David Williams) from the beginning was that he really didn't give a crap whether the home foreclosed. They tried to take an insurance claim for roof damage and apply it as a payment(essentially commiting insurance fraud). When they were questioned on this, they very quickly, within a a few hours, denied the short sale and said the investor would not consider a short sale no matter what the offer was. These guys are horrible.

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