- Report: #390398
Report - Rebuttal - Arbitrate
Complaint Review: Litton Loan Services
Litton Loan Serviceswww.Littonloanservice.com Houston, Texas U.S.A.
Litton Loan Services Interest only loan that was UNKNOWN TO ME. Houston Texas
Not until I reviewed a statement did I notice our high payment 2150.00 for a 8.8 "interest only" loan. I had "assumed" this was a 30 year fixed since the payment was so high. In addition to that was the fact my rate was going up to 9.2 and the payment was going up accordingly. When I called them on it I found out my rate was tied to some European rate, not the US rates which at the time were going down.
I was refused every sort of modification until I stopped making payments and then they offered the same rate of 8.8 but the payments were magically $200.00 less than I was paying for 3 years.
I'm walking from this loan. I had $70,000 equity into the property and made payments for almost 4 years, only to find it was interest only with no help in ever actually owning the property.
This report was posted on Ripoff Report on 11/12/2008 08:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/Litton-Loan-Services/Houston-Texas/Litton-Loan-Services-Interest-only-loan-that-was-UNKNOWN-TO-ME-Houston-Texas-390398. 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.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
- Keep the name short & simple, and try different variations of the name.
- Do not include ".com", "S", "Inc.", "Corp", or "LLC" at the end of the Company name.
- Use only the first/main part of a name to get best results.
- Only search one name at a time if Company has many AKA's.
Advertisers above have met our
strict standards for business conduct.