Our loan was sold without us knowing back in June, 2008. We found out our loan had been sold when we got a foreclosure letter on our door from a company (Litton Loan Servicing) we didn't even know we were affiliated with. I called Litton Loan to let them know that there was a mistake, and that our lender was Aveleo. They told us that Aveleo sold our loan June of 2008, and we own them the money. I let them know that neither Aveleo nor Litton contacted us to let us know that our loan had been sold, and that we have on-line banking and Aveleo has been cashing the checks we have been sending, so they needed to contact them and get their money... They got their money from Aveleo, and we started a repayment plan for one payment we did miss, due to my husband losing hours around the time of the writers strike. We signed the agreement, we paid, they cashed our check, and two weeks later I got a call saying that we were in default. I told the representative that we had just signed a repayment plan and I have the receipt form their company that indicates they cashed our check in my hand. She then told me that they voided the repayment plan... I said, "Why? You got the money on time, you cashed my check! The representative acted taken back by it all and said she didn't know why... She then offered another repayment plan. I said, "Well who is to say this wont happen again? Especially since you have no idea why it was voided to begin with? Am I to cross my fingers in the hopes it wont happen again?" She said Yes! I almost died... I said well what choice do I have. I signed it, I paid, they cashed our check, and two weeks later I got another call from them informing me that it had been voided AGAIN!!! I was so so upset! I told her that she needed to find out why this kept happening. She put me on hold for 20 minutes and comes back to tell me that it was voided because we over paid... I informed her that I specifically asked if it would be a problem id I made higher payment, the representative at the time said it would be fine. The women said she was sorry that I was misinformed, and asked if I would you like another repayment plan? I said send it out! She did, and as I looked over the new agreement I noticed that even though they voided our previous two plans, due to them misinforming us, they took all the money we over paid and put it towards FEES they charged us! I told the women that I would pay them $1000.00 seeing how I over paid them by $600.00 over the last two repayment plans. They said they wouldn't accept that. I then said I wanted to apply for a Loan Modification. She said we have to show financial hardship. Shortly after my husband left his second job, at which point we applied for the loan modification. We ended up applying 10 times due to them saying they didn't get our papers, or their system changed, or they made changes within their modification plan, etc... We even hired a company to help us, and still had no success. It has been seven months since we originally applied for the Loan Modification, and we just got a "Trial Modification offer" on Monday, August 10, 2009. In that offer I found that they had been charging us for Homeowners Insurance. We have always paid our own! It's never been part of our mortgage payment! We told them this and they hung up or got disconnected once, he called back and they said that this is the only offer we are getting, and wouldn't even acknowledge the fact they had been charging us for a service we already had! Also the new Modification payment was now going to be a $150 more a month than our original payment! They also informed us that even if we paid them on time for the three-month trial, they aren't promising a loan modification to us.
I said well, considering you wont deduct the Homeowners Insurance, and have raised our payment we aren't going to accept this offer. I then asked her for other options we had... She said a short sale. But now since they waited so long too
give us the offer, we only have until Sept 14th to try and find a buyer that will offer an amount Litton will accept. So we all know thats not going to happen. We can't afford to fight them. So we are walking away. We have been here six years and never had a problem until Litton bought our loan...
We have also requested information regarding charges, they either say they can't send
it, or they say they will and we never get it... It truly has been a nightmare. We have done everything they have asked, and they have not helped us, they wont give us a breakdown of or loan and charges that they have been tacking on, and now that we see they have been charging us for Homeowners Insurance when we pay ourselves, we know that they are adding fraudulent fees to our account.