Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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John
Arizona

All,

I have had some issues with Litton Loan servicing over the past few months. My ARM had adjusted last July from 7.25% to 10% and thus my payment went from 3758.00 to 5527.00 per month. I have tried to contact their Loss Mitigation dept but they do not take phone calls. I have submitted my information four times without any response even though email messages from Litton state that I should hear anytime soon by Loss Mitigation. Since trying to modify this loan my wife got diaplced from her job and does get severance for eight months. They said they would not include severance as income and immediately refused to work with my wife and I on modifying the loan because they said our inmcome does not qualify.

Is there any help you can give me for next steps to save my house?
I have contacted OCC, FTC and now the Attorney General and am looking at a short sale for my home to avoid foreclosure.

Thanks!
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John,

I'm sorry to tell you this but you are just wasting your time.  Litton can't modify your loan because it can't get approval to do so.

I sent six different financial work ups only for LLS to come back and state they don't do loan modifications.

Find a refi.

Email me and I'll explain further.

Bob


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If you talk with Litton Loan RECORD EVERY CONVERSATION!!! WITHOUT EXCEPTION!!  I also went through a loan modification, only to find out they prepaid for my foreclosures both of them!   Don't trust them, and get a lawyer right now, and if you can bring a breach of contract action do it right away, don't think they will help you, LARRY LITTON IS A TERRORIST! If you think in those terms you will understand what your up against.
 
They forge, alter, and substitute documents, including payment histories, credit history and nearly everything they do.
 
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John
Bob,

Thanks for the recommendation.
I am also looking at working with a company called Loss Mitigation specialists.
They do nothing else but foreclosures and short sales. We listed our home 6 weeks ago for 760,000.00 and recently lowered the list price to 690,000.00. Still no takers and refi would still be out of the question as they will not consider my wife's severance as income and because of Litton my FICO score has dropped.

Any further recommendations?
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John,

Is this company receiving any money from you for them helping you? If so attempt to do some due diligence on them.

that's the 1st advice!

2nd--have you had a realtor do a BPO? or maybe several of them to give you an idea of what your house is really worth?
$70,000 is a big price reduction....

What do you owe?

What can you document? Short sales need to make this the best win case for the bank...I don't have the experience these guys do with Litton...

But depending on the truth of the matter may get you further than you know. I know all these people talk about QWR'S...well I hired an attorney to do this with my bankruptcy...He dropped the ball...

Last Friday I typed up a NO BS story complaint and faxed it to my 1st mortgagee...Yesterday when I looked at foreclosure trustee website it's like my account went Poof!
GONE! Not rescheduled or anything for next week...I've learned alot from here besides my previous experiences with the banks and reading the booty off for months on end...

A severance package isn't long term employment...Maybe that's why their not considering it. However, it's income and it should be able to be used to keep you in your house a while longer...

Have they started and stopped the sale at any given time? have they said they may negotiate with you?

Best of luck,

Kathy

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.

John wrote:
Bob,

Thanks for the recommendation.
I am also looking at working with a company called Loss Mitigation specialists.
They do nothing else but foreclosures and short sales. We listed our home 6 weeks ago for 760,000.00 and recently lowered the list price to 690,000.00. Still no takers and refi would still be out of the question as they will not consider my wife's severance as income and because of Litton my FICO score has dropped.

Any further recommendations?


John don't pay anyone anything up front. There are people all over the country who are getting scammed in loss mitigation offers. If they're legit they'll take their cut at closing.
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