- Report: #753420
Complaint Review: Litton Loan Servicing - Houston Texas
Reported By:
ccmm002 -
Lodi, Ohio, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Litton Loan Servicing
4828 LOOP CENTRAL DRIVE HOUSTON Texas 77081 U.S.A. Houston, 77081 Texas, United States of America
Phone:
800-999-8501
Web:
littonloan.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Litton Loan Servicing Litton Loan is a very unethical company in every way Houston, Texas
I did some research on Litton Loan based off of other people complaints.
Litton Loan is a company that actually profits on someone Else's misfortunes. If you notice Litton Loan's full name is Litton Loan SERVICING. Their business model is as follows. As most of you know when you take out a loan particularly a mortgage that mortgage is usually sold to another company very quickly after the date the money was lent. However, the way Litton Loan operates is they only buy mortgages from legitimate banks that the original bank thinks is a troubled asset at the time. So since the bank thinks the mortgage is in trouble Litton Loan comes in and buys the loan for pennies on the dollar. So in other words if the original loan amount was for 150,000 Litton Loan will come in an buy it from the bank for maybe 80,000 and then they have a loan valued at 150,000 dollars in which they only paid 80,000 for, but of course the home buyer still owes 150,000. So now Litton Loan owns a 150,000 dollar loan which they already paid half price for, so if you are unable to make your payments Litton Loan is more than happy to foreclose on your house because then they will own property they also paid half price for. Litton Loan will alter Grace periods without warning, and will act in a very aggressive manner towards people for the very fact that they know they have people in desperate situations and anyway that situation turns out they benefit. Go to their website, they state right on there that they will never refinance anyone, and the above reason is exactly why...
Litton Loan is a company that actually profits on someone Else's misfortunes. If you notice Litton Loan's full name is Litton Loan SERVICING. Their business model is as follows. As most of you know when you take out a loan particularly a mortgage that mortgage is usually sold to another company very quickly after the date the money was lent. However, the way Litton Loan operates is they only buy mortgages from legitimate banks that the original bank thinks is a troubled asset at the time. So since the bank thinks the mortgage is in trouble Litton Loan comes in and buys the loan for pennies on the dollar. So in other words if the original loan amount was for 150,000 Litton Loan will come in an buy it from the bank for maybe 80,000 and then they have a loan valued at 150,000 dollars in which they only paid 80,000 for, but of course the home buyer still owes 150,000. So now Litton Loan owns a 150,000 dollar loan which they already paid half price for, so if you are unable to make your payments Litton Loan is more than happy to foreclose on your house because then they will own property they also paid half price for. Litton Loan will alter Grace periods without warning, and will act in a very aggressive manner towards people for the very fact that they know they have people in desperate situations and anyway that situation turns out they benefit. Go to their website, they state right on there that they will never refinance anyone, and the above reason is exactly why...
3 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
*****NATIONWIDE MORTGAGE ALERT: MAKE SURE TO READ THIS RIPOFF REPORT.......
#2Consumer Comment
Fri, March 09, 2012
for important information if you have a mortgage in the USA.
Then stay at this site and type in the following and read the Ripoff Reports from people all over America for additional information regarding mortgages-
INDYMAC
OCWEN
HOME LOANS
GMAC
MORTGAGE
BANK
481508
Karl
Highlands Ranch,Colorado,
USA
ROBOSQUID POEM
#3Consumer Comment
Sun, September 04, 2011
ROBOSQUID POEM
Sign 'em quickly
Keep tight lid
Obey your master
ROBOSQUID
You'll get bonus
Like he did
Keep on forging
ROBOSQUID
FBI comes
Keep well hid
You know nothing
ROBOSQUID
Where's your leader
In Madrid
What's his full name
ROBOSQUID?
End.
Anyone can 'Google' this- GOLDMAN'S MORTGAGE UNIT PROMISES TO STOP ROBO-SIGNING MORTGAGES, and read the related articles on the web.
Don't forget to 'Google' this- THE NEXT HOUSING SHOCK, and watch that 60 Minutes segment on the web. It appears that forging signatures was taking place at some companies, in order for the banks to be able to foreclose on houses in the USA.
Thank You
***SQUID ALERT: Anyone can 'Google' this- VETERANS TODAY GOLDMAN SACHS EMAILS: FIRM HAD 'THE BIG SHORT' AS ECONOMY FELL, and read that article on the web. There's also a picture of a squid-man at that article.
Liz
gainesville,Virginia,
U.S.A.
Litton Loan services loans
#4Consumer Comment
Thu, August 11, 2011
Litton Loan does not own mortgages, they service mortgages for the investors or banks that hold your mortgage
Litton Loan used to service only sub-prime loans but then branched out and began servicing all types of mortgages.
My mortgage was sold several times and who ever last bought my loan uses Litton a a loan servicer.
I have never had an issue with the company thank goodness. I pay my mortgage each month and I keep a close eye on my account.
I just wanted to clear up the misconception that they own your loan, and that they deal with only mortgages in trouble.
I am selling my home and will be done with Litton.
