Scary Mortgage Company!! Please help..?

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I refinanced last month and just found out that the Mortgage company is using Litton Loan Servicing based out of TX. Man.. I just googled their name and saw millions of customer complains against them. I am really concerned about dealing with them moving forward. I haven’t started any payments so far. Can anyone share their experience dealing with this company and also suggest how to get out of this mess? Is re-financing an other option? Please help

4 Comments
  1. Reply
    raredawn
    April 29, 2011 at 11:04 pm

    In most states on contracts like this you have a period in which you can back out of the contract. YOU need to find out if you have gone past that period.

    Another alternative would be to see a real estate attorney.

    When you get a mortgage from a bank chances are real good they will sell your mortgage on what is termed the secondary market. Really no matter where you get your mortgage chances are it will be sold to someone else. And it looks like Litton is one of the many companies that buys mortgages. Makes it really hard to avoid dealing with an given company.

    You could try contacting smaller local banks. Ask if they keep the mortgages “in house”. You may have to pay a bit little more in interest but the peace of mind might be worth it to you. Explain your problem. Be honest. You may not be able to do a thing but you might be able to refinance right away. All you can do is try. If you can’t refinance now try again in a year or two wna hope for the best! Also keep in mind that you can sure these jokers if they do not handle you remortgage properly.

    One thing you can do to help avoid problems with this company, don’t escrow your taxes and insurance. You have to be very responsible if you save for these items your self but the less of your money they can get their hands on the better off you will be.

  2. Reply
    kishaloy_bhowmick
    April 29, 2011 at 11:28 pm

    Hey ,
    I personally don’t know how to get out of the clutches of this Mortgage Company .Where is your home based in? Secondly , i would like to ask if your home is a single family home (not mobile home ) or not ?
    Thereafter , provide me the details of the housevalue and Mortgage amount and your credit score .I will talk to my boss if we can help you out in this case .
    We normally provide loans (frsh or refinance) at higer fives or lower sixes . Also my manager will talk to our real estate attorney to see the clauses of the law ,
    Write to me in details and i will try my best to help you out of this stupid problem !!!!
    My mail id is kishaloy_bhowmick@yahoo.com or call 480.751.4125 .

    regards,
    kish

  3. Reply
    amymcmahon23
    April 30, 2011 at 12:07 am

    If you haven’t had any problems yet, I wouldn’t rush to get out. If you make your payments on time and keep good solid records or your payments, you always have legal back up. The problem with refinancing again is the cost. You are looking at losing thousands on a refinance you may not need. Keep in mind the bigger the company the bigger the complaint box. I’m not sticking up for Litton – I’m of no affiliation. I just would hate to see you lose thousands on another refi if this lender turns out to be fine.

  4. Reply
    ogrendle
    April 30, 2011 at 12:12 am

    No matter how good you are people are going to find fault and complain. Litton will probably sell your paper in a couple of years anyway.ke your payments on time.

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