Contributed By Lucinda From Our Homeowners Forum at LoanSafe.org 

Hi there,

Thank you to everyone who’s contributed to this wonderful site!

If anyone has experience with Litton and their loan modification system, please chime in. Long story short, due to illness and several other abnormal expenses this year we became a good three months behind on our mortgage, in fact a bit more because I kept paying the monthly amount but I wasn’t quite able to make the past due payment. Add the costs of the lawyers and the fees and we’re about $4,000 behind.

Litton offered us a loan modification, and we gratefully accepted.

The problem was that my husband was just coming off of a short-term disability, and we had to wait three weeks after Litton wanted the initial payment for the loan mod acceptance to send it in. We let Litton and Titanium, who they’re apparently working with, know about the delay and they were cranky but said to just send the money in as soon as we had it. We did send it to them, and we attempted to pay the first month’s new payment right on time, but while they kept the initial payment they returned our mortgage payment. I called to ask why and they told me that the modification is still being processed so my house is still in foreclosure, but we’ll be notified ASAP about it. Meanwhile my home is up for Sheriff’s sale on 2/1/08.

We don’t know what to do. The loan modification is perfect for us and we thought we were all set, but we’re terrified that they’ll take our home while still processing the modification!! If anyone has any advice please let me know, thank you so much,

Lucinda

Looks like the Inland Empire may recieve much needed assistance and homewers may be able to avoid foreclosure with a new plan by our governor. 

Gov. Schwarzenegger came to Riverside on Thursday to alert homeowners living in one of the nation’s most mortgage-troubled regions about options that may save their homes from foreclosure.

Schwarzenegger announced a $1.2 million public-awareness campaign a week after saying he had reached an agreement with four large mortgage-servicing companies to freeze interest rates on adjustable-rate mortgages for homeowners who live in their property, are current on their payments and cannot afford to pay higher interest rates.

The governor said Thursday that he is working to add more loan-servicing companies to the agreement, which now includes Countrywide Financial Corp., Litton Loan Servicing, GMAC Mortgage and HomeEq Servicing.

Read the Rest of the Story by the Leslie Berkman of the Press Enteprise here.