• Report: #289218

Complaint Review: LITTON LOAN

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  • Submitted: Wed, December 05, 2007
  • Updated: Thu, December 06, 2007

  • Reported By:gilbert Arizona
LITTON LOAN
4828 Loop Central, Houston Tx 77081 Houston, Texas U.S.A.
  • Phone: 800-888-9646
  • Web:
  • Category: Loans

LITTON LOAN LITTON LOANS ARE FRAUDS Houston Texas

*Author of original report: first off cory

*Consumer Comment: What????

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I refinanced my home with litton loans back in 2005. It's been nothing but a nightmare dealing with this company. Starting in 2005 when the loan was picked up we had a 60day grace period to find out 30 days later by mail that our payment was late, called the company to find out what was going on, their rude misinformed rep stated that their was no grace period, if I didn't pay I would be reported to the credit bureau also they tacked on a late fee. To find out that there is a class act in los angeles on this exact matter which I'm involved in. This isn't about the money, this is about the principal, as I read more & more information about this company is coming to light, people are being ripped off by this company, losing their homes because of their fraud. If anyone has been a victim of litton please email me I will send you the attorneys information and direct links if you qualify for the class act law suit. Not only did they lie to us about the grace period, we had our own home owners insurance, we informed litton that they are charging us for their home owners insurance. They said that they would remove the charges and that we wouldn't billed for insurance, low and behold the following month later charges were still being applied for insurance...granted litton gave us the opportunity to own our own home, still and all it does not give them the right to Rip us off, to lie to us, to take advantage of us. Why are their so many people losing their homes because of litton? why is it that litton has so many unsatisfied customers? not only do they have us locked into an interest only loan, they just went and raised our mortgage from 1,300 to 1,700 now last month they raised it to 2,200 all in the matter of 2 yrs? Some thing is seriously wrong here. Hopefully this class act law suit will put litton out of business for good..give back to the people they have stolen from.

sincerely frustrated

Jose
gilbert, Arizona
U.S.A.

This report was posted on Ripoff Report on 12/05/2007 03:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/LITTON-LOAN/Houston-Texas-77081/LITTON-LOAN-LITTON-LOANS-ARE-FRAUDS-Houston-Texas-289218. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
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#1 Author of original report

first off cory

AUTHOR: Jose - (U.S.A.)

ITS OBVIOUS THAT YOU WORK FOR LITTON HOME LOANS, WHICH I DIDN'T ASK YOU TO COMMENT ABOUT MY SITUATION. AS FAR AS TAX FKING PAYERS, I HAPPEN TO BE ONE OF THEM. NO I DON'T HAVE TO EXPLAIN WHY I WENT INTO A INTEREST ONLY LOAN, THATS NONE OF YOUR BUSINESS, ITS NOT THE TOPIC OF DISCUSSION. WITH SUCH AN IGNORANT COME BACK WHICH LEADS ME TO BELIEVE YOUR ONE OF LITTONS NOSY CO WORKERS, YOU SHOULD START LOOKING FOR FUTURE EMPLOYMENT BECAUSE LITTON WILL SOON BE OUT OF BUSINESS. A HOLE...WHAT DOES YOUR ANSWER TO MY QUESTION HAVE TO DO WITH THEM LIEING TO ME? THERE IS A CLASS ACT FOR A GOD DAMN REASON. YES I KNEW WHAT I WAS SIGNING, DIDN'T KNOW THAT THEY WOULD LIE TO US. WHY IS THAT THE STOCK MARKET IS GOING DOWN AND BEING AFFECTED? ISN'T DUE TO THE GOD DAMN MORTGAGE COMPANIES N LIEING ASS REALTORS? WHERE ARE YOU GETTING YOUR INFORMATION FROM? YOUR AN IDIOT..DO ME A FAVOR GET A REAL JOB.
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#2 Consumer Comment

What????

AUTHOR: Cory - (U.S.A.)

"Not only do they have us locked into a no interest only loan...". I find that real hard to believe. You had the choice of a number of different types of loans. YOU selected and signed what type of loan you wanted AND agreed to. It also sounds like an adjustable rate mortgage(ARM) which is another type of loan you signed and agreed to. I suspect most of the folks facing this stuation are in it because they didn't have a clue what they were getting into, expected the market to continue as it had in the past and make a bundle. Why else would anyone sign for a interest only loan? They bought more house then they could afford. With all the houses going down the tubes, we're gonna see a whole lot more of this and I suspect the taxpayer are gonna end up bailing, all those folks who made foolish decisions, out. Why should I, who bought within his budget and live within my means, have to contribute to someone who didn't?
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