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  1. #1
    Join Date
    Dec 2005
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    1

    Litton Loan Predatory Lender

    Litton Loan of Houston Texas has been tormenting me since they bought my mortgage a year and a half ago. I have never been one single day late on my loan. They just raised my mortgage over $600 a month. They call and harass me constantly by phone....isn`t that illegal? And for what....I am never late. First it was not sending me the payment booklet...then claiming that I didn`t have homeowners insurance which they had paperwork and verbal verification from my insurance agent. They leave agressive reminders to pay my mortgage on my answering machine...why...I have always paid. They have made me lose years of my life. I researched them when they took over and I was horrified as to what I read on the internet. People losing their homes...people have heart attacks from their unethical practices....tons of litigation pending by hundreds of other customers.
    I am one of those people now...they are deliberately trying to make me lose my home. The injustice is driving me crazy!

  2. #2
    Join Date
    Jan 2006
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    1

    Re: Litton Loan Predatory Lender

    As the owner of a mortgage company, I suggest you get a real estate attorney, keep accurate records of all phonecalls, emails and snail mail, as well as the names of each contact in conversation. I have Litton Loan Servicing as well and have found them to be "different', to say the least.

  3. #3
    Join Date
    Jul 2005
    Location
    canada
    Posts
    1,104

    Re: Litton Loan Predatory Lender

    Debka123 - I'm surprised that you have had only one response to your post- BUT -do not consider GGRUBE to be an unbiased source. He has been promoting his "mortgage thing" through the private message system on this forum. But back to your request. The rules regarding mortgages may be very different where I am. Just generally - where are you? State or province would be enough. There are very specific rules in all of North America about any company contacting you at your place of employment as well as the hours of the day they can contact you at your home. It seems to me that your original mortgage/loan company may have been a little shady to put you into your current situation. There is an answer to your problem - just hang on - dont jump from the fryingpan into the fire. Start by telling ggrube and his ilk to take a hike! I'll watch for your posts. L.

  4. #4
    Join Date
    Jan 2006
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    2

    Re: Litton Loan Predatory Lender

    Hey there,

    I am familiar with Litton, some of the things they do are certainly questionable. I strongly recommend refinancing. If you have truly been paying in a timely manner it would be worth the temporary stress of doing it.

    First I would recommend you going to your bank or credit union, if you have been paying at least a year they will probably jump at it. The other thing to consider is that typically Litton has a prepay penalty for the first 2 years, you might want to see how long it is if you have one and how much of a penalty it is. It should be in your original paperwork at the time of the signing your papers. Check through all your documents.

    Second, Litton typically purchases loans that might be considered high risk. I am not saying that you are in this category, but something got you with a high risk lender, even if they were not the original financer. You might want to have a look at your credit which you can do on line for free and take care of any issues prior to going to your bank.

    If you get a lender and there is enough equity in your home, it would be worth refinancing just to get rid of them.

  5. #5
    Join Date
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    243

    Re: Litton Loan Predatory Lender

    http://www.lieffcabraser.com/loan-servicing.htm
    "At times one remains faithful to a cause only because its opponents do not cease to be insipid."
    Friedrich Nietzsche

  6. #6
    Join Date
    May 2005
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    West of the Pecos
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    121

    Re: Litton Loan Predatory Lender

    Litton ranks among the handful of the worst of the predatory mortgage loan servicers.

    If you want to learn more about them, there are several web sites where their victims are searching for help, including:

    http://www.msfraud.org
    http://www.ripoffreport.com

    The FTC was dragged kicking and screaming into finally making a show by needling Fairbanks Capital into accepting a wrist slap. Ocwen, EMC and Litton learned how to keep their versions of the scams going from the lessons Fairbanks executives and attorneys taught them at various seminars after being forced to pay a tiny pittance of their illegally-acquired millions in a one-sided settlement.

    If you are a victim (there's no such thing as a customer of one of these firms), you really have two options: Refinance before your equity makes you a target and they destroy your credit to lock you into their scam, or put money away to hire an attorney who knows how to put a stop to them the first month they try to screw with you. NEVER let them get away with even one month's mishandling of a payment.

    There are only a handful of attoneys around who even realize these people are crooks, because most victims simply don't have the resources to bring in competent counsel to scare them into backing off and the opportunity just hasn't been there for the law firms.

    The Honorable Judge Roy Bean
    http://www.loansharks.blogspot.com

  7. #7

    Re: Litton Loan Predatory Lender

    undefinedundefinedundefined

    To all my fellow victims:

    Litton Loan Servicing bought my loan in 2001. The very first thing they did was fail to pay my homeowners insurance. I have, or should I say, had an FHA, HUD insured mortgage with an escrow that my homeowners insurance and property taxes were to be paid from. I didn't learn that I didn't have insurance until over a year later when they sent me a new payment booklet raising my payment from the original $585.00 (had been that for 11 years) to $649.00 because of forced placed insurance. My original insurance company wouldn't reinstate the policy because of the length of time it had been lapsed. I had to go to another company and pay approx. $150.00 more per year as a penalty for not having had insurance. In 2003, they did the exact same thing again, and sent me a new payment booklet raising the payment to $707.00. I was able to get the newer insurance company to reinstate the policy but Litton was making me pay two payments a month some months and other amounts whenever they felt like it. I logged into the Litton customer website and pulled up my account and printed off all the activity of payments, the escrow and you wouldn't believe what I found. Because the escrow was in a deficit, some months they would put the whole payment into the escrow and show that I had not made a payment at all that month. There were so many credits and debits of odd amounts that a CPA could not have made sense of the activity. In April of 2004, we received certified letters from their attorneys advising us that foreclosure proceedings had been started and that if we didn't pay $4,300.00 our home would be sold at public auction. There was no explanation, rhyme or reason as to why, so I called and tried to talk to the attorney that had signed the letter. She was very rude to me and said, "Lady, you don't need to talk to me, just pay your bills and pay the money or lose your home!". Needless to say, I was in a state of shock and ultimately paid the $4,300.00 in order to save my home.

    Litton refused to correct the mistakes that they had made concerning the force-placed insurance and also refused to lower my payment back to the original $585.00. I am disabled with a chronic, progressive disease that there is no cure for and am on Social Security Disability. To say that I am on a fixed income is an understatement and I also had two children at home at the time. At this time, I still have a 16 year old daughter at home in high school. In January, 2005, we received another letter from Litton's attorneys saying that foreclosure proceedings had been started, again. The letter stated that I had 30 days to dispute the validity of the allegations, so that is what I did. After that, I received a letter from Litton asking for 60 days to investigate the charges that I had made against them. Keep in mind, the original letter stated that if nothing was done, the public sale would take place on April 19, 2005. The letter from Litton asking for 60 days to investigatge was dated March 28, 2005, so my husband and I thought that either we would hear back from Litton as to what they were doing to straighten out the mess and problems or a letter telling us that they were continuing with the public sale. The letter also stated that while they were investigating for us to continue to send our regular monthly payments. The first week of April, I sent $2,121.00 via Western Union Quick Collect so that we would not be behind. On April 20, 2005, a man came to our front door and handed my husband an envelope. The letter inside informed us that Litton had sold our home the day before (only 3 weeks after they sent us the letter asking for 60 days to investigate) and that we had 10 days to vacate the premises.

    Litton never had any intention of investigating the problems. They had been trying to foreclose on our home since the day they bought our loan. That is their business, FORECLOSURE! We only owed $51,000.00 on our home and at the time of foreclosure, our home appraised for $135,000.00. We have since learned that Litton had pre-sold our home to a couple of crooks(this is against the law) and the further we dig, the more unbelievable things we uncover! Litton has gotten away with their dirty dealings too long!! Someone needs to make an example of them and set a precedent for the other dirty lenders that are following in their footsteps. Most of Litton's victims are just average, working class people who are struggling just to make their monthly payments and pay for their other monthly life expenses, much less hire a high dollar attorney to fight these crooks! That is the main reason that they are continuing to get away with these dirty deeds! Fortunately for me and my family, we do have the resources to fight. We have the best attorney that money can buy and we intend to bring Litton to it's knees!!! Please pray for us. The main thing that we want is our home back, but even more so than that, we want to stop Litton from doing what they've done to us to anybody else. Litton has to be stopped!!! I do believe in my heart that Larry Litton will tremble when he goes before God on judgment day and I also believe that he will be cast into the fires of Hell for eternity, along with all the other crooks that are in bed with them!!!!!

    Thank you for taking the time to read my response and may God bless all of you!

    Homeless in Alabama

  8. #8
    Join Date
    Jan 2006
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    1

    Re: Litton Loan Predatory Lender

    I have a habit of disagreeing with people as to how to handle fraudulent mortgage servicers so why not start off my participation here on a familiar note. Contrary to GG's advice, a real estate attorney will do you ABSOLUTELY ZERO GOOD when dealing with mortgage servicing fraud. They simply do not have the necessary education or (more importantly) practice focus. Real estate law deals with P&S agreements, zoning laws, variances etc. What you are going to need is a good consumer protection firm and not necessarily a single CP attorney although it is entirely possible to outsource anything that the attorney can't handle personally. You need someone preferably knowledgeable in RESPA, TILA, FDCPA, FCRA, HOEPA, Sarb-Ox, and state level consumer protection and lending laws. Having a firm that handles SEC, banking, and/or corporate issues will further help you. www.martindale.com is a fairly good source when it comes to foraging for legal counsel.

    You're also going to want to find a Certified Public Accountant with Certified Fraud Examiner status (CPA/CFE) to audit your account and show not just you but your attorney, the judge, the jury and everyone else involved where each penny of every payment you ever made to a servicer was allocated. A forensic accountant should be able to similarly do the task. Do not, and I repeat, DO NOT kid yourself into thinking that you can perform your own audit unless you have the above qualifications - and even then, (much like an attorney representing him/herself has a fool for a client) I'd want a qualified third party to go over my account. It's not whether you are able to do the same job yourself; it's credibility with a court. If you aren't a qualified "expert" in the eyes of a court you can do all of the quantum physics you like and it won't make a bit of difference - because you're not an "expert". Oh, and once you find that CPA/CFE you're going to preferably want your attorney to hire them as opposed to you doing it so as to preserve attorney/client privilege.

    And before you begin ANY of this escapade, I HIGHLY recommend that you begin, and most importantly MAINTAIN a written time line of any and all activities that happen that pertain to your account. Date letters when they arrive and save the envelopes for the postmark, how they arrive (standard post v. certified) any telephone calls made to/from you to anyone, who you spoke to, date time of conversation, ad nauseum. Yes, this can be a time consuming process HOWEVER two, three, five years down the road when you're still fighting against the same servicer you're not going to remember what happened Feb 12, three years prior and you'll be glad that you have that time line to reference. It also comes in handy when you're pitching your case to a firm or talking to any media should you decide to go that route.

    And, lastly, remain as organized as possible. Get a file box and a package of manila folders from an office supply store. As correspondence comes in from every different source that you will deal with label a folder and add it to your box. The more organized you are, the easier you can communicate your case to a qualified attorney, the better chance you're going to have of actually finding a firm that will be interested in your case. I spoke with literally 150+ firms in my area before I found an attorney that didn't either have a conflict if interest, wanted $10-30k as a retainer, or told me to quit trying to get out of paying my mortgage and stop being a deadbeat. It may take considerable time to get everything in place but once you do you're good to go and while the court system grinds along at a pace that make snails look like they're NASCAR drivers you WILL ultimately come out on top against these fraudulent servicers.

    One more thing to consider.... The longer your case takes to get to either trial or settlement the better the chance of others obtaining verdicts against servicers that may be used as case law or otherwise examples of rulings. Of course that works both way so keep that in mind as well. And above all else, EDUCATE YOURSELF. Find out what a REMIC or RMBS is (your first lesson - I'm not telling you what it stands for), how it may or may not affect you, and just what the prospectus (clue) for said REMIC allows investors and servicers (clue #2) to get away with. You'll be surprised what you find out in financial filings (clue #3). Learn about what has happened to you and how you can fight against it. No one is going to be able to do this for you. I don't know how many people have asked me for assistance only to eventually make me feel as though they want me to actually take their case over and handle it for them. Not going to happen as I've got my own MSF case to deal with. I'm always more than happy to help out where I can but if you don't have clue one as to how you got where you're at in this process you're not doing yourself any good and ultimately will only be hurting yourself if/when the time comes to settle or try your case. If you have no concept of the amount of physical, emotional, or financial damage you've sustained how can you POSSIBLY understand what you should think is a fair settlement or verdict outcome?

    My .02. By all means feel free to give me change. Having said allll of that, if you have questions, feel free to ask. The only stupid question is the one that goes unasked - just remember to take the time to look (search) and see if someone else hasn't already asked the same question thereby putting the answer in front of your nose. And finally, just as my CMA, I don't even play an attorney on TV so nothing I ever say should ever be construed as legal advice. You've been a great audience...I'm here 'til Thursday... Try the veal...:)

  9. #9

    Re: Litton Loan Predatory Lender

    After 4 years being in LITTON HELL :mad: - as of April 3, 2006 I am FINALLY FREE of them. And Yes, I still have my house.

    The problem started when Household Finance (beware of Household) sold my mortgage to Litton in 2003 within six months time Litton started up with harassing phone calls, forced placed insurance (even though State Farm repeatedly sent them paper work that I was covered), basically I went through hell and high water with this company so in order to save my house not to mention my sanity 24 months ago I filed bankruptcy. If I had to go broke doing it - I was determined that Litton was not going to take my house.

    Fortunately I had an extremely experienced bankruptcy attorney who was familiar with Litton and was proficient in dealing with them. During the course of my bankruptcy we were able to prove that Litton was applying my mortgage payments to my account days even a week or more after receiving payment. With the assistance of my bank we were able to prove that Litton would endorse the checks a day or two after receiving them - but wouldn't post the money to the account until days later making it seem like the payments were late. Yes, this practice was still taking place during the time I was in bankruptcy. Are these people idiots or what.

    Anyway, I was able to petition the bankruptcy court to allow me to refi and I did. Worked with a wonderful company - who was also experienced in cutting through Littons tangled mess of red tape. In the end, I still have my house, in about another 3 weeks my bankruptcy will be completely discharged. And to top it off Litton ended having to pay me - received a nice check from them yesterday.

    Bottomline get yourself a GOOD LAWYER who is experienced in dealing with Litton.

  10. #10
    Join Date
    Jul 2006
    Location
    Oregon
    Posts
    5

    Re: Litton Loan Predatory Lender

    YOU NEED TO COMPLAIN TO THE FTC - http://www.ftc.gov/
    I am also having problems with Litton Loan Servicing, but they took over my mortgage from another predatory lender located in Texsas, EMC - they are being investinged by the FTC already.

    There is also a class action lawsuit against Litton Loans: http://www.lieffcabraser.com/loan-servicing.htm

    Don't them them take your home - they are trying to rip off your equity. I have an attorney helping me. YOU NEED TO GET A GOOD ATTORNEY.

  11. #11
    kpueblos's Avatar
    kpueblos is offline Holy Cow! I can edit this!!! User Rank
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    Re: Litton Loan Predatory Lender

    3 words for you.
    Get Legal Counsel

  12. #12
    Join Date
    Jan 2007
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    2

    Re: Litton Loan Predatory Lender

    Quote Originally Posted by Takenoprisoners
    After 4 years being in LITTON HELL :mad: - as of April 3, 2006 I am FINALLY FREE of them. And Yes, I still have my house.

    The problem started when Household Finance (beware of Household) sold my mortgage to Litton in 2003 within six months time Litton started up with harassing phone calls, forced placed insurance (even though State Farm repeatedly sent them paper work that I was covered), basically I went through hell and high water with this company so in order to save my house not to mention my sanity 24 months ago I filed bankruptcy. If I had to go broke doing it - I was determined that Litton was not going to take my house.

    Fortunately I had an extremely experienced bankruptcy attorney who was familiar with Litton and was proficient in dealing with them. During the course of my bankruptcy we were able to prove that Litton was applying my mortgage payments to my account days even a week or more after receiving payment. With the assistance of my bank we were able to prove that Litton would endorse the checks a day or two after receiving them - but wouldn't post the money to the account until days later making it seem like the payments were late. Yes, this practice was still taking place during the time I was in bankruptcy. Are these people idiots or what.

    Anyway, I was able to petition the bankruptcy court to allow me to refi and I did. Worked with a wonderful company - who was also experienced in cutting through Littons tangled mess of red tape. In the end, I still have my house, in about another 3 weeks my bankruptcy will be completely discharged. And to top it off Litton ended having to pay me - received a nice check from them yesterday.

    Bottomline get yourself a GOOD LAWYER who is experienced in dealing with Litton.
    hi i aslo are having problems with this company.

    can you tell me who refi'd you i be willing to talk to tem to get me out.

    thx

    eugene

  13. #13
    Join Date
    Apr 2007
    Posts
    6

    Re: Litton Loan Predatory Lender

    Quote Originally Posted by sammy6150
    hi i aslo are having problems with this company.

    can you tell me who refi'd you i be willing to talk to tem to get me out.

    thx

    eugene
    i c u have hard time writting...mayb u have hard time reading loan documints

  14. #14

    Re: Litton Loan Predatory Lender

    Hi I understand our home was stolen by litton in April and we lost it I want to file a law suit on them would you be interested.:angel:

  15. #15
    Join Date
    Jan 2010
    Posts
    1

    Re: Litton Loan Predatory Lender

    I have had the same experiences with Litton as most of the people replying in this thread! When it finally hit us that they were indeed trying to rip our home of 15 yrs away we tried to refinance...We had 2 different lenders that approved us and in both cases all that was left to do was to get the payoff amount from Litton. they tried for months to get any response from them and got no reply! they each tried to deal with Litton's staff and attorneys and it was a nightmare for them as well! They were stunned that Litton was so terrible. The President of one of the Mortgage companies that approved us even tried to deal with them because they had the mortgage broker in a tail spin and sadly had to tell us that there was nothing more they could do and advised us to get an attorney. I started to do research on Litton and was even more discouraged after i found out what they are all about! You all need to know that Larry Litton Jr&Sr have very strong political ties and may never be brought to justice because of that! They have made some pretty large contributions to politicians. It is going to take an army to take them down and make them pay for what they have done to american homeowners. we lost our home from an illegal foreclosure in April of 2007...we only owed 68 thousand dollars on it and had over 150 thousand in equity! three years later i am still traumatized and still they haven't been brought to justice! We filed complaints with the BBB,FTC,MASS. DIVISION OF BANKS, AND MANY OTHERS! The only one that tried to help us was the division of banks and there was not much that they could do because Litton is based in Texas. Please try not to give up and keep sending in complaints to government websites as well as consumer websites until someone somewhere hears you!! good luck everyone

  16. #16
    Join Date
    May 2010
    Posts
    13

    Re: Litton Loan Predatory Lender

    Make lots of noise:

    emails -

    llitton@littonloan.com

    dlerma@littonloan.com

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