- Report: #753420
Report - Rebuttal - Arbitrate
Complaint Review: Litton Loan Servicing
Litton Loan Servicing4828 LOOP CENTRAL DRIVE HOUSTON Texas 77081 U.S.A. Houston, Texas United States of America
Litton Loan Servicing Litton Loan is a very unethical company in every way Houston, Texas
*Consumer Comment: *****NATIONWIDE MORTGAGE ALERT: MAKE SURE TO READ THIS RIPOFF REPORT.......
*Consumer Comment: ROBOSQUID POEM
*Consumer Comment: Litton Loan services loans
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...
This report was posted on Ripoff Report on 07/15/2011 11:56 AM and is a permanent record located here: http://www.ripoffreport.com/r/Litton-Loan-Servicing/Houston-Texas-77081/Litton-Loan-Servicing-Litton-Loan-is-a-very-unethical-company-in-every-way-Houston-Texas-753420. 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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