Litton Loan Servicing - Loan Modification
Litton Loan Servicing
Tel: (800) 781-7399
Fax: TBD
What you can expect
Acorn has included them in the group known as the 'home wrecker 4' (click on the link and see for yourself; http://ourfinancialsecurity.org/2009/06/acorn-home-defenders-to-confront-“home-wrecker-4”/
Don't expect much if any assistance from them. The modification process is long and in many cases the end result is negative. The problem lies with the fact that there are many investors involved who may own your mortgage. They have the final say in whom they wish to assist and who they don't want to assist. In many cases, these investors are not interested in assisting home-owners with their mortgage payments if they are current or even if they are delinquent. They are more interested in liquidations and finding a better home-owner.
They never provide any transparency regarding any modification guidelines that can help you prepare your modification request. If you are declined for a mortgage modification, they will not provide you with an intelligent and understandable reason. Usually, the response sounds like; "no, and we can't tell you why because the investor as a policy will not allows us to tell you why". Absolutely no details can be found on their website regarding workout programs.
Modification request instructions can be found at: https://www.littonloan.com/fin_info1.asp
The instructions look very inviting, but don't be fooled. Don't even expect a call within 30 days from Litton Loan Servicing. You need to call them several times per week to ensure that at the very least your request was received.
We give Litton Loan Servicing a poor rating and strongly urge you to seek professional representation in order to ensure that your rights are protected and to afford you the very best chance to obtain a mortgage modification.
Loan Modification News / Hintsts
(Please click the links to view the full article)
Making Home Affordable Loan Modification
Government sponsored program designed to help
those home-owners with reducing their mortgage payments
In order to qualify for this program, you must currently have a
Fannie Mae or Freddie Mac mortgage. The Lender must also agree
to participate in this program. The program is not mandatory and
therefore Lenders can choose whether or not to participate.
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Requesting a mortgage modification is a simple process.
Requesting a mortgage modification is a simple process. Compiling a package that provides the best chances of receiving a modification is more difficult. Lenders will always look for reasons not to provide a modification.
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This act will 'unprotect' the home-owner and have them face organizations that have legal departments that are bigger than the average home's square footage.
Bank Of America / Countrywide Loan Modification
They have signed up under the Home Affordable Mortgage Program to provide relief to those home-owners that are struggling and have a Fannie Mae or Freddie Mac mortgage.
Litton Loan Serving as not a Lender but services loans on behalf of other Banks. Therefore, their skill set is focused on collections not on assisting home-owners with a mortgage modification.
Wells Fargo is one of our nation's largest banking institutions. They acquired ailing Wachovia Bank recently.
OneWest Bank (IndyMac ) Loan Modification
OneWest Bank was formed from the ashes of Indymac Federal Bank. Indymac Federal Bank was originally IndyMac Bank before it was taken over by the FDIC
Learn about trends and loan modification process with ask questions and interact with other loan modification professionals.
Verify Fannie Mae or Freddie Mac Loans
If the loan is owned by Fannie Mae of Freddie Mac, it may be eligible for the Home Affordable Modification Program.