In 2000 my husband and I bought out home with a mortgage through Equi Credit. My husbands factory had shut down and we went through a financial crisis, and still are. We had gotten behind on our mortgage and decided to file a chapter 13 to save out home. On May 30 Equi Credit had filed that we were behind $1796.79 and the balance of our mortgage was $56623.97. This chapter 13 didi not last long due to the fact that the payments were so high we could not afford them. We refiled the chapter 13 and during this chapter 13 our loan was bought out by Litton Loan. Not knowing what was going on payments were being made to Equi Credit by the trustee.
After talking to our attorney, he advised us to dismiss this chapter 13, convert to a 7 and then refile the 13 to save our home. So, this is what we did. So now on October 23 we refiled the chapter 13. This time to get claims filed by litton Loan that we were $21279.75 behind on our mortgage and had a balance of $58207.41. I had asked my attorney about this and about the payments to Equi Credit that Litton Loan should have been getting. He stated that the trustee would check in to this and would not allow what they had already received.in the meantime I had sent for a payoff from Litton Loan. Now mind you, I only borrowed $59,000 and my payoff was over $80000.00. I again asked my attorney about this and was told he wasn't a mortgage speacialist.
So we continued payments of $1400.00 per month for three and a half years.in this 3 and a half years, Litton Loan received $24660.13. And you would never guess, my payoff is still the same. I was always under the understanding that a chapter 13 bankruptcy was to help you get back up on your feet again and get your credit straight. All this bankruptcy has allowed is Litton Loan to ripp me off even more.
My husband and I can not do it anymore. We are trying to raise 5 kids, and pay the trustee 1400.00 every month not including all of our utilities, insurance for car and home, food for our kids, clothes for our kids, and I need to say no more to you that have children. I have received numerous letters from Litton Loan that they did not have proof of my insurance. I would call my agent and he would say "I just sent them that info." Two months later I would receive the same letter.
I don't know what these people have added to my loan. All I know is that I have gotten absolutely nowhere with this company and I can not take it anymore. I can't tell you how many nights I have not slept because of this. And the shame is theres noone that can answer for all this. My house only appraises for $62000. Litton Loan says I owe over $80000. I can't even sell to get out from underneath it. This mortgage company is a real scam artist. I'm done. Theres no more that I can do.
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