HELP! Litton Loan messed my payments.22NOD's! - Posted by Cris(LA)

Real Estate Investing
#1

Posted by Sandy on March 08, 2002 at 11:43:56:

Cris,

I have faxed them multiple times with no replies. The only thing that seems effective is a phone call. Maybe something to the effect of who do I have to talk to or file complaints or suits with to get your attention. If in fact many complaints are filed against them, then if they have, for instance a lot of FHA, then they will set up an audit and could pull all of their loans from the servicer. In some cases the servicer goes out of business. Just a thought. I am pushing my buyers to refi as quickly as possible. It’s companies like Litton that make our business difficult sometimes. Good luck. Keep us up to date. You might also call the Attorney General and see if they can be of any help on these types of things.
Sandy

#2

HELP! Litton Loan messed my payments.22NOD’s! - Posted by Cris(LA)

Posted by Cris(LA) on March 07, 2002 at 20:55:11:

I will appreciate if someone with experience responds, preferably to my email because there are so many details.
This servicing company has threatened since last year with 22 NOD and intent to accelerate, changing every month the amount that I owe, loosing or/or applying payments late and charging unapropiate late fees, not honoring a forbearance agreement, wrong statements with no history payment, etc. I need to know what kind of letter (legal wording)I have to send them to finally resolve this. They are also ruining my credit. I know that I have to invoke RESPA and make three copies, one addressed to myself, another simple, another with signature required.
My bank has tried for two weeks to make them find a november payment that has been cashed and not applied yet, to no avail.
The last NOD was sent on 2-19-02 and is not recorded YET.
I know that I am current if the improper fees are taken out and the remanent is properly applied.
There is also an issue with taxes and escrows.
I need to do go the Conventiion with this resolved!

I appreciate and thank in advance the experts’ advice.

#3

Class Action - AMEN! - Posted by William Bronchick

Posted by William Bronchick on March 08, 2002 at 07:52:50:

Litton f***ed up my loan so bad, that if the office were in my town, I would probably walk in and go POSTAL.

They kept writing me the “we don’t have proof of insurance” letter, despite the fact that I faxed it 3 times, then they FORCED a policy on the entire building (it was a condo). To boot, they did it a month before I was paying it off, so I had to pay $3000, then pull teeth to get a refund months later.

GET THIS . . . TWO YEARS LATER, they incorrectly reported me 60 days late! All I got was “we don’t have the file anymore, so we can’t do anything.” It was not until I threatened legal action that they would write a letter to the credit bureau.

#4

Same Problem With Litton - Posted by Vic

Posted by Vic on March 08, 2002 at 06:03:19:

Cris,

I had a similar problem with Litton, except it was only one pmt. that they didn’t credit properly. It took me about 8 months to get it straight.

I made numerous calls to them. I would speak to a rep who would tell me to fax in a letter & then allow 3 days for them to get the letter to the right dept. It was a joke. Every time I’d fax them a letter, they would say that they never received it & to send them another & to wait 3 more days.

Finally I got a supervisor on the phone & explained things to him, in a nice way, figuring that it wasnt his fault. I went back & forth with him for a few months. This guy couldn’t get anything done either. So, finally, I ended up getting his supervisor on the phone, who was able to finally get things straightened out.

So I would suggest that whoever you are talking to, keep going to their supervisor until you find one that can solve the problem. It is very frustrating for sure.

Vic

#5

Re: HELP! Litton Loan messed my payments.22NOD’s! - Posted by Jason_NOLA

Posted by Jason_NOLA on March 08, 2002 at 24:38:26:

I think I would refinance after all of those headaches.

#6

Re: HELP! Litton Loan messed my payments.22NOD’s! - Posted by Sandy Wickware

Posted by Sandy Wickware on March 07, 2002 at 23:05:29:

After a little over a year of dealing with Litton, I’ve experienced multiple problems as well. Problems with payments being credited late, them refusing to remit back to us an insurance check(5k), and couldnt get them to do a change of address for 12 months. We would make phone calls that were never returned, and even on their voicemails it would say dont leave mulitple messages, although we did because they werent returning calls.

It wasnt, until We finally got hardnosed with them threatening to take further action, with us insuating we were going directly to FHA to file a complaint, that they got it together.

We think we finally got everything resolved, time will tell, they have been quiet. I figure they’ve been getting a ton of complaints on them.

My advice is to let them know you will talking to RESPA, and talking to their investor on the loan, as well as get all your canceled checks together and seek a new loan.

Sandy Wickware

#7

Re: Class Action - AMEN! - Posted by Cris(LA)

Posted by Cris(LA) on March 08, 2002 at 09:06:57:

Class action: if you need my file, you got it! Everything that Creons’ (people belonging to the land of Creonline)(mmmm…maybe I just created some new RE in this world…)has happened to me and more!
I will threaten legal action and reporting to FHA.
Questions: if I list the house for sale, will that legally prevent them from recording an NOD or filing a foreclosure? I do not have extra money to give them, they have it in my account and are refusing to post it correctly anyway.
If they file a foreclosure will somebody look into all their mishandling? Will I still be responsible to pay then foreclosure fees ?
My attending the Convention is jeopardized. I would have to send them the money I saved for Atlanta, to pay the everlasting escalating incorrect fees!
I will try to refi. There is enough equity in the house. I just need a little more time.Any suggsetions?
Thanks Mr. Bronchick for your fast reply and any further suggestions in how to handle this real (estate) threat.

#8

Re: Same Problem With Litton - Posted by Cris(LA)

Posted by Cris(LA) on March 08, 2002 at 10:34:49:

Thanks Vic.
Your words are my words. This is their MO. They say their fax machine is in another building…
I have been asking for supervisors who are usually unavaiable.
Cris

#9

Re: HELP! Litton Loan messed my payments.22NOD’s! - Posted by Cris(LA)

Posted by Cris(LA) on March 08, 2002 at 10:54:20:

Thanks Sandy,RL, Heidy and Jason for your responses. Slowly each one is describing the same things and M.O.(modus operandi)that I went for 13m with them.
Was your threat effective in writing or just on the phone?
Thanks again to all of you.
Cris