My loan was sold to Litton without my knowledge but I continued to make the payments. A while later I lost my job and fell behind in the payments. Facing foreclosure, I thought it would be best to sell the property. I found an investor willing to do a short sale. We spoke with Litton and they agreed that selling the house would be the best route and told me that once I got together all the information they would work with the investor. The investor and I got together all the paperwork and submitted it to Litton, I also showed them my paystubs proving that the new position I had paid considerably less than what I was making and I couldn't pay the mortgage. Litton came back and said they would send someone to the house to take pictures and do what is called a "BPO" on the house.
After a week of not hearing anything anything from Litton I called them, I was immediately told that they offer from the investor was denied. I said ok-he is willing to counter offer and I asked them what did the BPO come to? They told me the price-I called the company that did the actual BPO appraisal and the price they told me what they quoted Litton was almost fifty thousand less than what Litton told me they said. I went back to Littton again and this time they told me that they don't really look at the BPO and there were "Other Factors". When I asked what those factors were, I was put on hold for 20 minutes, I hung up and called back-this time I was told that I would need to speak with Roland, when I asked for a number, I was told that there is no dial in number for him but they would send an email and have him call me. The investor and I have now been trying to talk to someone for over 2 weeks and we either get put on hold or hung up on. They have sent me letters saying they are planning to foreclose. I am extremely frustrated. I would think that they would rather sell the property versus taking a chance with a foreclosure but apparently they don't care.
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