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Report: #104276

Complaint Review: Litton Loan - Houston Texas

  • Submitted:
  • Updated:
  • Reported By: Brandon Florida
  • Author Not Confirmed What's this?
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  • Litton Loan 4828 Loop Central Drive Houston, Texas U.S.A.
  • Phone: 800-247-9727
  • Web:
  • Category: Loans

Litton Loan ripoff predatory lending Houston Texas

*Consumer Comment: Litton Loan Servicing Corporate Terrorism & Fraud

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I'll try to make this short and sweet, leaving out exact dates and dollar amounts, which are only important to us, the lender and our lawyers.

Before I begin, I must state that we have never even made one single payment late.

About April last year my loan was bought by Litton Loan from Master Financial. There were problems immediately. Litton says that we owe them a payment for the month prior to them buying our loan. That payment was sent to Master Financial. We have proved to them time and again that this was a mistake, their mistake. We have even done so with a conference call between my wife,Master and Litton.

They assure us that the problem will be solved. Yet we still receive numeruous letters stating they intend to foreclose. They continue to accept my monthly payments, however they show that we still owe the original payment,plus an abundace of late fees. Since they have bought the loan they have reported me to the credit co.'s as being 30,60 & 90 day lates. As you can imagine they have single handedly affected my credit in a negative way.

And as if this nightmare wasn't enough. When it came time for them to pay my escrowed insurance premium, they forgot. I received a letter from my insurance co. stating they cancelled my policy. We immediately contacted Litton. I believe their exact words were uh, I don't know what happened, we must have forgot. At that time they did send the payment Fed-Ex overnight.

In our latest correspondence with them they admit that they see the error and will correct my credit issues as well as my payment past due A.S.A.P. The bottom line is that because of their negligence, I cannot refinance my house at a much lower rate and most importantly get as far away from Litton as possible. Not to mention the other luxuries of having good credit that I can't enjoy.

In my searches for people with similar problems, I've come across numerous sites and stories dedicated to fraudulent practices by Litton Loan. However, in most cases I've found that the main difference is that they were late on several occasions or were in default in some way, and Litton had used questionable methods in getting what they wanted. In our case, we've done nothing wrong.

Eric
Brandon, Florida
U.S.A.

This report was posted on Ripoff Report on 08/18/2004 01:16 PM and is a permanent record located here: https://www.ripoffreport.com/reports/litton-loan/houston-texas-77081/litton-loan-ripoff-predatory-lending-houston-texas-104276. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Litton Loan Servicing Corporate Terrorism & Fraud

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

POSTED: Tuesday, August 31, 2004

Hi Eric, FL been thinking about your comment, it does not matter whether your payments were made timely or late. Litton Loan Servicing is notorious at messing with anyone and everyone's accounts.

You commented that your last payment to the lender was due them, but Litton obtained your account and presumed they were owed that payment. First mistake by them against you. All the communication between them and you, has it been put in writing. Mistake #2 Litton Loan never puts anything in writing if they can avoid it. And it is never signed, #3

Then your credit report, mistake #4 as usual Litton thinks it's word is gospel, and reports anything they want, when they want. Mistake #5, the late fees and since they are notifying you of foreclosure, legal fees, mistake #6.

With regard to your Insurance Escrow account, Mistake #7 - 9, Litton did not pay it on time, your insurance could have been canceled, and replaced by Litton's forced placed hazard insurance, and probably was, in addition to costing at least 100% more than the original insurance would add possibly more fees and interest to your account, mistake #10 & #11.

So as you can see, it does not matter what you can prove, Litton Loan Servicing still continues to manage your account and the numerous others as they see fit.

Litton Loan and it's cousins, Ocwen, Centex, Fairbanks, EMC, etc., have only one concern, controlling your life and home and making all the money they possibly can. And there are so many other ways they make money on your account.

There are no specific regulations for the servicing industry, Litton and it's cousins are nothing but Collection Agencies, and any bills sent or other correspondence always indicates that THEY ARE COLLECTING A DEBT! WOW. Even when you are able to contact Litton by phone you hear the same spiel. And then there are the law firms, their recordings also note that they are collecting a debt.

This is what we all are dealing with DEBT COLLECTORS, not servicers or law firms, just old fashioned money launderer's, like a modern day Mafia/loan shark. So in closing you may have done nothing wrong, true, but that does not stop them, especially Litton Loan.

You are aware of the groups and open forums dealing with these issues of servicing fraud, please join in and help the rest of us fight this financial terrorism.

You stated; "In our case, we've done nothing wrong." As you can see it does not matter. But you can help make a difference, currently there are 2 class action lawsuits pending against Litton Loan Servicing and it's parent company C-Bass. And there are others looking at Litton too. Pus there are many personal lawsuits being conducted against Litton. So, join in and check the open forums or groups for the complaints, copy them and run to an attorney or a court and demand your rights.

You are not alone and together we can win. God bless all of us who have endured this terrorism and fraud. Let's get back our dignity and make them pay!

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