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Litton Loan Servicing / Predatory loan practices

1 United States Review updated:

(1) Litton added additional charges on to our account after our agreed to loan modification... to this date they have refused to remove the illegal charges.

(2) Even though we paid for our own insurance Litton added insurance to our account costing three times the normal premium charged by our insurance company... they finally removed bogus insurance charges when they found out we were part of a class action suit against them for their predatory lending practices.

(3) They called us recently to say we had not made the most recent mortgage payment... WRONG... when I called them back after checking with the post office*, they were suddenly able to find the check. They said because they received it on a Friday, it could not be processed until the next week... WRONG AGAIN... the check was received at 6:24AM on Friday. They had all day Friday to process the check.

(4) When they call, many of their agents tend to be very unprofessional and abusive.

*Because of Litton's past behavior, I send our payments via registered mail. That way they have to sign for the payments. I also photocopy the checks before sending them. I am doing such to protect ourselves with a complete paper trail.

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Comments

  • Ba
      20th of Oct, 2011
    0 Votes
    Litton Loan Servicing - Horror
    Litton Loan Servicing
    United States

    I am horrified to read everyone's complaints about this company. Recently I contacted Litton to discuss a loan modification and was told after spending an hour discussing my financial sitaution that I was "pre-qualified" for a loan modification.

    The representative helping me initailly was not very friendly; however, she warmed a little about a half hour into the conversaiton. She informed me that I would need to submit a hardship letter along with paycheck stubs and bank statements. I was informed once the requested information was received, it would take approximately 90-days for Litton to present me with the terms of the modified loan. I went ahead and made my December 2008 payment with the intention of providing the requested letter and financial information in the upcoming weeks at the first of the year.

    Unfortunately, prior to having the chance to submit such informaion, I received 2 letters in the mail (one for each of my 2 loans) annonucing that after review of my Income documents, they are not able to offer an alternative workout solution...What documents did they review to make this new decision contradicting the pre-qualification I was verbally provided over the phone by one of their reps. I still to this day have not yet submitted income income documents to Litton for review, yet they have declined me based on "Income documents."

    So, it appears that Litton never had any intention of working with my loan and in anticipation of me submitting the requested financial documents, schedueld me to receive a form letter contradicting the verbal pre-qualificaiton I received.

    This is a joke! Litton is the servicing company for my loan funded by Ownit Mortgage who is no longer in business. Not knowing at the time that Ownit folded two years ago, during my phone conversation with the Litton Loan rep, when I specifically asked her if I should try to contact Ownit directly she neglected to inform me that the company holding my note had folded. Rather, she advised that although I could attempt to contact them directly, she encouraged me to move forward with Litton in an attempt to modify the loan...what kind of sick game is that?

    I appreciate everyone taking the time to post their information. I now feel more educated about the tactics of this company and will begin using counsel to address my mortgage concerns.

    Although my home loan is a sub-prime loan, I am not stupid nor will I tolerate someone trying to take advantage of me or my situation. I fell prey once...but, never again. Best of luck to everyone out there trying to do the right thing by negotiation with the banks instead of walking away.

  • Cu
      2nd of Aug, 2011
    +1 Votes

    My father passed away in Sept of 2009. He got involved with Litton 2 yrs prior to his death. I am now stuck with a -$500, 000.00 estate because of this awful company. I have had the house up for short sale since Oct 2009. No one will buy it because Litton is too slow to close on the deal. I have had 3 offers and it takes Litton 6 to 8 months to decide if the offer is good or not. I have learned that if you call them and it asks for a 4 digit code just keep saying "NO" and it will put you thru to a live person. The house was supposed to be foreclosed on and now Litton won't even do that!! They are a bunch of ###s!! I have had the attorney general of consumer affairs from Iowa get involved, but to no avail. The city I live in has filed a nuisance ordinance against the property. Litton was contacted by 3 of my lawyers and also by certified letter...once again no response so now the house belongs to the city and all debts against it are wiped clean!! Suck it Litton, you aren't getting a dime off that house and I think it is hysterical!!! DO NOT GET A LOAN FROM THIS COMPANY!!! DO YOUR RESEARCH!! I am just the executor of this estate and it has been a mess because of this company!!!

  • Le
      30th of Dec, 2010
    0 Votes

    My name is Lee Lawson, and some how I agree with all the above comments that have been stated. I my self experience so of the same mistreatments, eg, it cost me over $8, 000 to get my property relese from foreclosure. I was forced to reverse my mortgage, owing a balance to them in the amount of $53, 000. LITTON would not give a release until I was ordered to pay over$63, 000.00. Please let me know where I can join this suit against the LITTON Company.
    Thank you

  • An
      1st of Jun, 2010
    +1 Votes

    I am a mother with two children. I started this mortgage in 1988 with my husband which was in the Army, I wanted to keep a roof over my head and he found more things important things to do. We started a family in 1996. We had some problems but I did everything I could do to keep this house for 22 years. Litton Loan told me to let them do the Loan Modification because it would save me some money, or let some outsid company do it, so I did. I did everything they asked. I send it several times(papers and all the informations they asked for they continue to misplace and found later) so many times I lost count. I called every month because I found out that sometimes the person on the phone was not trying to help me and so I called backed and hoped I would get someone who cares or can help me. I called and faxed everything they needed. They acted like they did not received the informations or I did not talk to them every month. LITTON LOAN SERVICES NEED TO BE CLOSED DOWN AND WE NEED TO TELL OUR PRESIDENT AND THE WORLD WHAT THEY ARE (LIARS, THEIF, CROOKS, HOME OWNER FRUEDS)send them to jail

  • An
      30th of May, 2010
    -1 Votes

    Litton Loan takes homes by fraud.Ironically, Litton`s haste to securitize your loan has provided you with a security blanket that protects you from foreclosure.

    When the mortgage and note are seperated by securitization it null and voids your mortgage contract and they only enforce foreclosers by the ignorance of the people and by fraud.

    This is a good website to checkout.

    http://www.yourmortgagewar.com/intro.html

    May God curse litton loan and bring them crashing down and held accountable.Vote for the Republicans in November because they are the ones that will bring companies like litton loan down.

  • Mr
      21st of Apr, 2010
    0 Votes

    I have been forced to deal with Litton Loan Servicing and even tried to refinance to another mortgage company, but would have ended up with Litton anyway because I own a manufactured home.

    I have been a customer of Litton for over ten years. In that ten years I have had to fight forclosure from the moment Litton aquired my loan even though my loan was up to date and current at the time of transfer, Inspection charges because they "drive by" to make sure we are occuping the home, late fees that accrued to the point of thousands, spent hundreds in letters with receipt only have Litton claim even with signature of receipt they did receive the payments, abusive customer service reps to the point that I was forced to contact Larry Litton at home on Christmas Eve @ 6pm to get one problem settled. Even after a court required remodification on my loan where Litton was forced to eat $28, 000 and fix my credit report my credit report is still no corrected 4 years later. My most recent problem is now they what to escrow flood insurance for my home at at 3 times what I pay for flood insurance independently.

    I was harrased to the point that Litton no longer as a telephone number on record for me. The fight is never ending.

    How much does the customer have to take?

  • Mi
      9th of Jan, 2010
    0 Votes

    I have already spent hours and hours on the phone, documenting conversations, faxing all the neccessary paperwork, and still paying every month. When I heard about the modification process about a year ago, and knowing our ARM would be adjusting in May, I started contacting Litton to find out our options. I was told I had to wait until 60 days before the ARM, then when I called at 60 days, I was told I had to wait until it was actually adjusting.

    Long story short, my husband and I are finished with paying this company any more money.

    We never signed on with them, as both our 1st and 2nd loans were bought by Litton within weeks after doing our refi. There are houses right down the street, exactly like ours, renting for half the price we are paying on our mortgage. We would be able to pay all of our other creditor OFF in less than 2 years if we started paying rent and let the house go! So far, they are reporting us late since May (when our modification process finally began), and delinquent since October. But we didn't recieve or sign the mod paperwork until November! Now they are back charging us for the difference between the new modified payment and the trial payment, even though there is over $700 in a "suspense" account which would more than cover the difference. Meanwhile, we hardly have any food in our house, and I am a full time student while my husband runs his own business (his income also dropped in 2008 and 2009, but that didn't matter either).

    However long it takes before we can buy another home, I do not plan on doing business with anyone but our local Credit Unionin order to make sure our loan never gets in the hands of these criminals again.

    I would definitely be interested in being part of any class action lawsuit that could stop this company and force the credit agencies to reverse all negative reports for all of us who have made a significan effort to communicate and pay what we thought we should.

    [email protected]

  • Le
      5th of Dec, 2009
    0 Votes

    We started with Freemont Investment and in 2006 we began the modification process. 2 weeks before the final paperwork was due to be mailed to us our loan was sold to Litton Loan. After expirencing everything that everyone else has already mentioned, and going back and forth with Litton for more than a year and a half we hired an attorney to take over. The stress of dealing with them caused me to have anxiety attacks. Our attorney has made more progress than we did on our own but in the 6 months he has been in charge...we still do not have any final paperwork from them about the modification. We continue to make payments via western union (because checks seem to disappear for days in their offices) but there is no end in sight as our good credit scores have now all but disappeared because of their rate increases and lack of effort to try to help those who really want to save their homes. Our attorney and his assistant have often called them 3 times a day, everyday to be able to speak to anyone who kows whats going on. It actually got better once our house went into forclosure (which they told us to go ahead and let happen so they could expedite our modification...this would show that we were really in need). Now our attorney deals with their atto0rney and the idiots in the modification department and cut out of the loop. Yet after fighting with them for 3 years we still have no end in sight but a little reassurance that the attorney is handleing their calls and I don't have to hang up in tears anymore from frustration. Good Luck to everyone else...all I can say is that Karma is a *itch and I hope that Karma pays special attention to whomever makes this the worst loan company EVER!!!

  • So
      2nd of Dec, 2009
    0 Votes

    Litton Loan is owned by Goldman Sachs, one of the most powerful finacial institutions in the world. We made our
    pre-trail modification payments and they still auctioned our house with no prior warning. We need some large organization to file a class action suit! Also Litton Loan was given 1.1 billion in TARP funds.
    I now have to leave my home of 23 years in two weeks!

    [email protected]

  • Sr
      15th of Jul, 2009
    0 Votes

    I found that Litton Loan Servicing will offer a loan mod but good luck getting it. I went thru Accorn Housing to get a loan mod thru Litton and was denied because they said my income would cover the rate adjustment and I could afford the new payment when the paper work sent to Litton by Accorn Housing showed I was Upside down by $900.00 a month after the rate adjustment. Litton is owned by Goldman Sachs and cares about bonus money more than helping home owners. If they did they would use the Making Home Affordable Plan and do some good . Maybe Goldman Sachs could use some of the $10 billon loan they got from the goverment and buy Litton some adding machines. They could use them.

  • Pa
      8th of Jul, 2009
    0 Votes

    We have expereinced that same challenges with Litton Loan Servicing. We can not get anyone on the phone. We have been left on hold. We have been giving false information about a possible sale date of our home. I am in New York and am filing a complaint with the attorney general office. I also have send request to Litton in writing throught certified mail as proof that i am communicating with them and that i am requesting the original note of the mortgage that is with Fremont Investment and Loans. I had to hire a lawyer and no longer dealing with them directly. Eventhough they have sent me for the last three months letter that they want my financials to be considered for a modification. All this is bogus. Why? because I orginally appilied for a modfication back in January and was denied for insufficient income. Ever since the Stimulus plan was passed they have been sending me letters notifying me they are participating in the Stimulus Plan so they cover themselves and say they have offered to me several times. These company is a predator and suggest that you go through a attorney to work out options for you.

  • Ar
      3rd of Jun, 2009
    0 Votes

    Litton Loan Sevicing is the most disgusting and racist organization that I have ever seen in my life, the agents lie on the phone, they are rude, and uncompassionate. We are doing everything we can to get out of this loan with them and this has been going on for the last 4 years and we still keep trying, we always pay our mortgage, and if you dont watch these people they will put extra charges on your account without your knowledge and then threaten you with foreclosure, instead of shooting abortion doctors they should hunt the Littons.

  • Ro
      31st of May, 2009
    0 Votes

    We have been trying to get a loan modification for the last eight months. My husband was laid off from his job in 2007 and then had two heart attacks in 2008. He had to have a pacemaker implanted this past December. We are three months behind in our payments and our home is in foreclosure. I have sent the paperwork Litton requested 5 times. They only acknowledged the last three. I have the paperwork to prove that it was sent. They have strung us along saying that Obama's new criteria were the problem. Then it was the problem of trying to figure out which of their 3 programs we qualified for. I was told 3 times that the paperwork was going to be here within 10 days to two weeks. We never received anything except the foreclosure papers. I responded the same day we were served. I know that we have tried to work with them the way they requested and all we have received for it is a runaround. We have been in our home for the last 33 years and now we don't know what to do. I guess we are going to have to file for bankruptsy. The only way to stop these folks is a class action suit. My husband's health hasn't improved and I know the stress is killing him. We also have three grandchildren who live with us who will be homeless if we don't have a home.

  • Bt
      15th of May, 2009
    0 Votes

    Litton sucks! I have tried (unsuccessfully) since October 2008 to get my loan modified. Have submitted ALL documents requested in a timely, legible and professional fashion. They have given me the run around and just informed me TODAY 5/15/09 that I will be denied again due to too much income! HAHAHAHAHAHAHAHA! They also told me my payment was only $643 but the notices that they sent me (and I have) say it went to $824 and jumped again to $900+. If my payments had been $643 - I would have paid! This is an ARM, interest only loan. It went from 7% to 9.125%. They based our monthly income on our gross income (before taxes and deductions). We DO NOT get that money!!! I was laid off work and have been unable to find employment (due to the economy) Our mortgage was affordable and sustainable before the rate adjustment, now it is not. When I asked for other alternatives to foreclosure they did not have the information available and could not tell me what the attorneys fees are or anything else. Since we have been in foreclosure we have accumulated over $10, 000 in fees! How in the world are homeowners suppose to keep their homes if these predators continue to give us the run around. Our house, since the economy has fallen, is not even worth what they say we owe on it, yet they will not do a modification! Doesn't sound smart to me! Anyway, I would like to file some kind of charges against this company and hopefully keep them from continuing their MOB-like way of conducting business. IT IS TIME THAT LITTON IS OUT OF BUSINESS AND PEOPLE LIKE US ARE GIVEN THE OPPORTUNITY TO CLEAN UP THIS MESS WITH SOME DIGNITY!!! If anyone else wants to get together with some type of legal procedures you can e-mail me at [email protected]

  • La
      31st of Mar, 2009
    0 Votes

    I am in the same boat as most of you with the problems I have had with Litton. Won't somebody Help Us!!! What can we do to get the Government to take a look at this company? Please somebody, Help Us..

  • Pa
      12th of Feb, 2009
    0 Votes
    Litton Loan Servicing - Interest payment for 2008
    Litton Loan Servicing
    PO Box 4387
    Houston
    Texas
    United States
    Phone: 800-247-9727

    We have had a loan in the amount of 350, 000.00 that was process in 2005. Our broker negociated the loan for us, and it had a starting rate of 6%. What was not revealed to us was that it had a cap of 13%. The loan is currently at 9.0125. We have paid 32, 000.00 in interest for 2008. We were deceived by our broker, but Litton loan approved the loan and has drained us of all that money paid to them. Also, we are senior citizens, and we want to have this loan examined for illegal processing.

    We would like some direction as to where or who can we contact to have this reviewed.

    our home addres is

    Paul and Gladys Cosby
    1559 Acacia Circle
    Vista, California.

    Loan # 0015540800

    e-mail address [email protected]

    The home value has dropped significantly, and we are bound to this contract.

    Please reply so we can get some help.

  • Lo
      7th of Dec, 2008
    0 Votes
    Litton Loan Servicing - Predatory Practices
    Colorado
    United States

    Litton Loan Servicing skillfully rips off customers. They do this by deliberately lying to their customers. They do this by deliberately making mistakes in their own favor. They do this by deliberately ignoring customers’ rightful protests of indignation. And finally they deliberately cause their customers to spend inordinate amounts of uncompensated time attempting to correct these costly mistakes.

    Prior to 2008, I had never heard of them. Then in May of 2008 I received a letter from Fremont Savings and Loan stating that effective June 1, 2008, my loan would be serviced by Litton Loan Servicing.

    No big deal I thought! The terms of my mortgage are all elaborated in my promissory note. I’ll just continue to make payments in a timely manner.

    Then in August 2008 my ordeal with Litton Loan Servicing began in earnest. I received my first incorrect letter from them. My loan payment, they stated, would increase by more than $800.00 per month because as per the terms of my loan with Fremont, they are required to escrow my property insurance.

    Immediately I faxed Litton Loan Servicing a letter explaining that I had never escrowed my property insurance with Fremont.

    This explanation was not satisfactory to Litton. Their next letter stated that it would take up to 90 days to research this. In the meantime they stated I should “pay the additional $800.00 per month...”

    Again, I called them. $800.00 per month was a lot of money for me to add on to my mortgage payment for their mistake. I refused to make the additional payment.

    In August and September of 2008 Litton sent me statements showing the additional funds due. I ignored their statements; I paid only my normal monthly mortgage amount excluding the insurance.

    Then began the incessant telephone calls from Litton... Every time they called, I patiently explained over and over again to them that this was their mistake.

    In September 2008, Litton mailed me a letter making reference to my note which they stated was enclosed (no note was enclosed) and that in fact I did owe the additional insurance money. Again I wrote them a letter requesting a copy of the note that they stated was enclosed in my letter. Now comes October another letter requesting yet an additional 60 days to send me a copy of the note.

    More telephone calls from Litton. More patient explanations.

    I kept on thinking that my protests would merit the attention of some supervisor who would straighten everything out. But that did not happen. I kept calling them.

    Finally On October 16, 2008 someone partially listened to me. I spoke with a woman who stated that she could straighten out this “entire mess.” In order to do this, I would have to fax her letter authorizing her to transfer escrow surplus funds to my mortgage payment and pay Litton an additional $60.00. I asked her why she was charging me $60.00 more and she stated that I needed this amount to have my account balanced properly. I paid this sum and then immediately requested an accounting of my mortgage payments.

    What I shock when I received an accounting. Litton had the nerve to charge me a late penalty!

    That was not the only repercussion from my involvement with Litton. My credit reporting agency has now advised me that Litton filed a derogatory report on me.

    I have no ending to this story. Like a long running soap opera that never ends the issues go on and on.

    Who owns Litton Loan Servicing? Who is responsible for setting policies? Does any governmental agency regulate them? If there are so many nightmarish stories reported on the internet about them, why can’t something be done?

  • Ra
      2nd of Dec, 2008
    0 Votes

    I am not sure that I have enough space to type everything that has happened between Litton and myself. Sadly enough my story is very similar to the stories I've been reading. To make a very long story short they waited for 2 days prior to my sale date to advise me that they are not able to help me. I am a 43 year old woman with a husband who just had a brain tumor operation, a 81 year old mother with alzhiemers, 3 young grandchildren(which i have custody of) and a daughter. They have been working on a modification for me for the past 2 months while they continued to tack on late fees and attorney fees that are out of this world. The only solution they can come up with is not a modification but a repayment plan for just $5000.00 down and 3300. per month for 11 months at which time I will have to repay a payment of over $15, 000.00. Now I have done this re-pay back on more then one occasion over the past year and I am not able to keep the high payment current and they knew this when we made the agreement and I told them! Of course everytime they added more attorney fees making it impossible for me to catch up. I hope someone reads this and is able to help others that are going to follow my misfortune..As I am sure there will be many more. I am now forced to make the toughest decision I have ever had to make for the people I love the most in my world. God knows I will not be easy to find housing for my family of seven...Good luck to all of you and I hope you all have better luck than I did with Litton

  • Ji
      10th of Nov, 2008
    0 Votes

    Hello.

    I can’t believe so many people are shocked and surprised by our current loan default crisis. And now we are using MY tax money to bail these ### out?

    Here is what happened to me.

    I had a home for 13 years, made timely payments and was a god citizen of this state. But then I went through a divorce and had to re-finance my home to buy my wife out of the home.

    A few months later, I became unemployed due to downsizing for 5 months, and since I was unable to make my loan payments, they tacked on so many fees and charges that my loan became unaffordable.

    I tried to re-negotiate over and over. Asked to extend the loan period to keep payments affordable, but they insisted on going through foreclosure steps. My loan was 320, 000, and they tacked it up to 350, 000 to be back on track. It went up 30, 000 in 5 months! that can;t be right!
    I found that they had tacked on fees that were imaginary, and purchased me insurance that was 5X's what I had for insurance!!!
    they pretend not to get payments, push for default, to collect on the insurance!!
    this is no different than burning down a house for the insurance or taking a life insurance policyu on somone and then killing them.
    How do they get away with this?

    I even submitted all of the forms to do a 'short-sale' which would have saved everyone lots of time and money. I had a purchaser interested in the home for 330, 000. But they denied the short-sale.

    So instead, the foreclosed on the home, ruined my credit, and sold it at sheriff auction 6 months later for 225, 000!



    Is there any wonder why when tactics such as these that lack common sense are allowed that there is the crisis that we have now?

    That’s 120, 000 less than what I was trying to short-sale the home for just 6 months earlier.

    Guess who my mortgage company was?
    Litton loan services. A predatory loan company! they purchase my load AFTER I was late 3 months!

    THEY decided, on their own, not to renegotiate payments with me, someone that WANTED to keep my home and pay, even if I had to pay for many years longer.

    THEY decided to not take a short-sale of the home which would have lost them 20, 000! And it was only in surcharges and interest! Not even the principal amount!

    Then THEY decided to auction sale it at 120-130, 000 less than was offered, 5 months later!

    And now they screw me, decided willingly to incur losses such as these, and now we are bailing them out? Huh?

    thanks for listening.

    Sincerely,

    Jim Leone

  • Li
      26th of Aug, 2008
    0 Votes

    To: Larry Litton aka Larry Blake
    c/o Litton Loan Servicing aka C-BASS
    5373 West Alabama, Suite 600
    Houston, Texas, 77056
    U.S.A.

    335 Madison Ave., 19th Fl.
    New York, NY 10017
    United States

    Harris County Appraisal District
    13013 Northwest Freeway
    Houston, Texas 77040-6305


    Office of the Attorney General
    300 W. 15th Street
    Austin, TX 78701

    Attorney General Terry Goddard
    Office of the Attorney General
    1275 West Washington Street
    Phoenix, AZ 85007


    You are either part of the problem or part of the solution, and you sound like part of the problem.
    The following letter are statements in order to increase awareness amongst Litton Loan, C-Bass and the average homeowner.

    To: Larry James F. Schneider, Managing Director: C-Bass, Larry B. Litton Sr.President Litton,


    [email protected] (CEO)
    [email protected] (CFO)
    [email protected] (Senior VP)
    [email protected] (mort retention mgr)
    [email protected] (loan retention mgr)


    I am writing for help in my current situation. My original loan was transferred over to Litton loan servicing, after signing with Home123 about 3 years ago. Litton is also known as C-BASS, or Credit-Based Asset Servicing and Securitization. C-BASS, purchased and securitized credit-sensitive and nonperforming single-family residential mortgages, investing in whole loans, subordinated securities, and properties that were are on the verge of being foreclosed upon. I have kept close records and documented my experiences with names, dates and also comments. I also have actual voice recordings of the people I have spoke with in the retention department. For months I tried to make a payment arrangement with the man in charge of "my case" and I was denied every option. My mortgage has been raised from $1210.00 to almost $1600.00, I then called and wrote letters and found someone to actually help me. His name was Benny Hibler. I have to say he was very helpful and nurturing to my concerns. So, I go on thinking everything is fine, I continue with a loan modification program. The terms were that my loan payment is now at a fixed rate of 7.5%, up one full percent than I originally signed for years ago. And I was instructed to pay two payments to get the new loan started. Benny Hibler was assigned to my case and this letter is in no way directed at his mistake, but Litton never made me aware of the upcoming charges that would be tacked on to my loan balance. I have been paying good for 3 years, I also put down $25, 000.00 in order to avoid a second loan...now I find that my loan has had a $10, 000 charge on the end of it, with also a $3.000.00 charge for the paperwork to have my loan modified. So basically although I have been thinking I have been paying the loan down, but my payment as well as my balance of the loan have both gone up tremendously. Even after while originally signing I was promised by my loan officer that I could refinance in two years and cut my payment in half and not to worry that my payment was already so high. It was all a lie, I am unable to refinance the loan due to the depreciating market and other circumstances. After the loan modification went through, here I am thinking I am in a better position with my loan, while the entire time, I was basically paying $13, 000.00 to buy myself a few months. Only as the result of being paranoid that they would harass me into paying anyway. The letters, the phone calls, the automated messages every ten minutes, even numerous times when a rep of Litton hangs up on you after hours of being on hold, not to mention when certain charges have been placed on your account and reps cannot give you a straight answer of what the charges exactly are, but you just have to pay them to avoid the trauma and hell they will put you through if you don't.

    As the economy keeps shooting down in order to accommodate the banks ever growing success, my condo has depreciated from $210, 000 to $68, 000 in a matter of a year. Which reflects a negative balance originally going from a positive equity position and excellent financial standpoint. I continue to make monthly payments to the escrow account, unexplainable charges, late charges every month, and statements that seems to tack on just a little more to my final balance instead of lowering the actual cost. What did C-BASS make down on paper last year...over five hundred million dollars...sounds to me like the recession isn't affecting everyone, yet helping banks to grow even further until the final takeover of the world...I guess it helps when you have outside associates and developers, whom after the foreclosure sale, contact Litton/C-Bass to buy the house for less than the foreclosure sale price and inflate the resale price to once again another victim. Litton was instrumental in setting up REO's, and also Litton Jr. sits on the board. I recently became aware by Gary Wait, that According to the "Master Policy" 30 days prior to the foreclosure, CBASS becomes an additional named insured on the policy. Thus assuring what ever the sale price is the insurance will make up the difference. But why is this? Are Litton Loan and CBASS "Double Dipping" here, selling the house at loss below the amount of the loan? Then recouping the difference on the insurance claim? Thus claiming a loss on the sale of the home, but having a complete "Made Whole" insurance policy that is paid to Litton Loan and CBASS? Why is Litton Loan and CBASS the only "NAMED INSUREDS" on the policy? Why not add the home owner? ITS CALLED INSURANCE FRAUD!

    They claim the loss on the books from the sale of SOME homes, while pocketing TAX FREE money from the insurance claim! Just one of many observations of how Litton Loan and Larry Litton are committing fraud, and terrorism here in America every day!



    It is rare for me these days to have a conversation with someone making them understand my sensitive situation and to look out for any type of "sub-prime" lenders, no matter HOW desperate they think they are. It is MORE LIKELY to find that you have re-financed yourself into a LESS attractive arrangement and will remain at the mercy of the mortgage investor aka "The Mob".








    To sum it all up:


    They have raised my payments after re modification on a fixed rate mortgage and have added almost $13, 000 in costs for this after 3 years of ownership and payments and also a down payment of $25, 000.00



    My property has depreciated from $210, 000 to $68, 000.00 in 3 years of ownership and good payments.

    I am now in a financial hardship with a payment that I could rent a house 3x the size of my own property for.



    I am stuck in a fixed loan for the life to live in a property that is 990 square feet, built in 1973 for basically the rest of my working life.



    Tell me Larry Litton aka "The Mob", what part of this situation is beneficial to me again? I am asking for another modification program that explains all costs incurred to my account PRIOR to the signing of your documents, and also a breakdown of all of the costs involved in my modification. As of right now, I am in the thought process of bankruptcy and feel that it may be a good time to rid myself of the mortgage fraud that was committed against me. I felt taken advantage of by your company prior to all of this, but now that I have sat down and documented the final stages of going through loan mod, I understand that once again I have been taken advantage of by your company.



    I expect a letter explaining to me how your are going to make this right. My next step is sending you yet another hardship letter, followed by contact of [redacted] & BBB update and a call to my attorney and also a certified package of all of my logs and records kept. I will be contacting every news station attaching my letters and concerns of fraud on my account due to lack of explanation on your part. I want my loan modified correctly, I want the charges that just don't seem to fit refunded, I want my rate as well as payment lowered, and most of all I want to be in a financial standpoint that makes sense to NOT only YOU but myself included. If not, I will have no other choice than to submit my story to the court of law and also relieve myself of the outrageous loan that was so SOLD to me in such a premeditated and scandalous form.




    On July 30, 2007, Judge Morrow issued a 56-page order granting Plaintiffs' Motion for Certification of a Nationwide RESPA Class. (Note: the Order is not a determination of the merits of case.) The Nationwide Class is defined as:

    All persons (i) who presently own, or during the Class Period owned, property (including mobile homes) in the United States, (ii) who entered into a mortgage loan transaction which was then transferred or sold to Litton or for which the servicing rights were acquired by Litton Loan Servicing, LP or its predecessors, directly or indirectly, at any time between October 26, 2002, and the present, and (iii) who made timely payments to the transferor servicer and were charged late fees related to that payment within the first sixty (60) days of the loan transfer to Litton.


    “No man who continues to add something to the material, intellectual and moral well-being of the place in which he lives is left long without proper reward. Honesty in business brings good karma."


    Frustrated Loan Client

    I can be contacted at [email protected]



    ------------------------------------------------------------------------------------------------------------------------
    Previous Letter written to Litton in order to HELP my situation.

    My letter to Litton:



    To whom it may concern:


    After months of frustration with your company as well as Titanium Solutions. I have finally decided to write this letter and send it to all departments of
    your company. I am hoping that one person will take this matter seriously. I will also be sending this letter certified to you as well as faxing the information
    to the department supposedly handling my case. I have been ignored. Not listened to. I have been trying to make a payment to your company for almost two months now. (FULL PAYMENT) of the past few months I have been unable to pay due to the constant problems of Litton telling me I cant make payments certain ways. I am trying to give you my hard earned money and you wont accept it. I have put all of my Loss Mitigation paper work on file with Titanium and when it came down to me making the payment they told me I wasn't making it to them I was making it to Litton. When I spoke with Daryl of Litton Loan, I explained my story about what had happened and the time wasting of trying to go through Titanium and how frustrated I was and just wanted to make a payment. Well Daryl told me he would get back with me and I called for three days straight trying to get through to him. When I finally had to have someone at your service email him he called me back with a "payment plan"...Apparently my mortgage has gone from a 6.5 - 8.9 in a matter of months and also his payment plan was my payment going from $1210.10 to up over $1600.00? I hardly believe this is a payment plan that someone who is trying to come to agreements with your company is to help? So when I asked him how this would help me he said, well have you discussed your situation with Titanium. I just about flipped out on him because for a half an hour I explained to him how I couldn't get through and get anything done with Titanium and how I wanted to get this handled through Litton. It was as if he didn't listen to anything I said and came back with some payment plan, that a person in foreclosure can hardly afford- and just expected me to deal with it. I am able to pay what is over due and I have been for almost a month now and I keep getting harassed, my house is now up for trustee sale and I have people banging on my door to try to purchase it. I recently had an appraisal done on the property and due to market conditions the 990 square foot 1973 condo is going for a little over $114, 000.00 The 1214 square foot unit just short-saled at around $52, 000.00 I believe. My loan is for the amount of $210, 000.00 in which I have put $25, 000.00 down and also have been paying only on interest to your company. It is amazing to me that you are going to raise my rate now to an 8.9 and continue to change my payments every 6 months. I am willing to pay you the amount that is overdue if we can come to some sort of agreement, and also if someone in your company WILL LET ME MAKE A PAYMENT!! I am begging you to let me give you money and I am being tossed from one part of your department, to a loan solutions company (Titanium) that sounds like it is being ran from someones home!
    I want to give you money to pay my past payments. My notarized paperwork is on file with Titanium. I no longer want Daryl working on my account as he does not listen and is 100% unreasonable. I have asked to speak with corporate and they will never give me the number or transfer me to complain.

    They will not return my phone calls and they even have hung up on me. They have also been rude. I have sent them a payment and they even sent my money back and said that it was not enough and that they do not take personal checks. They will not even take a bank transfer from my checking account. Every time I call I pay a ONE time fee of around $14.00. How am I supposed to recover and get you the money on a depreciated property if you wont accept it?
    What was the point of sending all of this to Titanium when I finally got the payment it wasn't even a correct payment. She told me that the loan would be at 7.4% when I spoke to Litton it had went to 8.9%? I have a job and I can afford my payments if we can come to an agreement, but at this point with my property being worth around half of what I purchased it for and my payment on a 990 square foot OLD condo being $2000.00, tell me why I am not just going to walk away and go rent a larger condo down the street for $795.00? I'm trying here! I'm trying to pay you, I have the money I can make what I am past due on if you guys will work with me also. The amount of 3% which you will have to pay a realtor and also the money that will be lost on this condo in trustee sale or foreclosure will much exceed what you are trying to squeeze out of me. I am a hard working person, and this is why America is hurting so bad and banks are going under. Its people like me that if you would just try to hold up to your side and not try to scrape every last penny out of a poor single female who is trying
    her dam nest to give you all of her money, we could see a huge change in everything if your customer service would actually listen and resolve our problems.

    Its no mystery that all of our taxes go to pay the interest loaned from large banks. Give me a break here. Take my house out of trustee sale and let me at least try to hold up to my end of the bargain before you go and place this home for not even a third of whats its worth because your employees don't take the time and effort to help people PAY YOU. I will send ten copies of this letter to all of your departments until I get a response from someone who actually cares about the fact that I HAVE THE MONEY TO GIVE YOU and YOU WONT TAKE IT!

    I had come out of my deep depression from being an unemployed Realtor, I have managed to get everything back on track and get the money to tend to my obligation and Litton put me right back into depression again with their total lack of cooperation. I am not able to refinance nor take out a home equity loan which was promised me from the time I have taken out this loan my payments are now $500.00 more than when I started. I used my entire inheritance from my dead grandmother to make the down payment. My property is now worth HALF of what it was. Can you imagine my frustration? Please I am practically begging you for help in this matter.

    Litton constantly mails foreclosure notices and has sent my information to random people who wont stop contacting me. They have put my whole world on blast with the trustee sale. I have random men knocking on my door at all hours. I can be sure at any time Litton can claim we owe them extra money and if we cannot come up with the money while we dispute their claim we may lose our property. Its a threat that will only force YOU to lose money as none of this makes any sense on why its been so hard to resolve this with you!

    Please help!

    Worried and frustrated Litton Loan Client.

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