Good luck on a short sale via Litton Loan... Here's today's copy/paste from what I'm dealing with:
"You may want to inform your buyer that this will not be a fast process - as lately it has been taking Litton 3-4 months to approve a SS if it is b/k - from the date we submit it to the b/k department at Litton. If the buyer is unwilling to wait then they may bid on the property at the pending F/C."
This guy is in Loss Mitigation. Mind you, we filed a Chapter 13 when Litton started raising our payments. Litton entered into a fixed payment plan with us, then filed foreclosure. It's crazy. And on top of that, the short sale apparently means nothing, LITTON WOULD RATHER FORECLOSE THAN ALLOW YOU TO MAKE PAYMENTS AGAINST THE PROPERTY!
According to the statement above, this guy is telling us if Litton does not approve the short sale by the foreclosure auction date of 1/20/09, then we should have the buyer purchase the home at the auction!??!?! What can make these idiots understand that I am trying to salvage what little credit I have left. Who does that?
My mortgage company went bankrupt (I found this out while searching the internet one day... Was one of those Merrill Lynch deals!) Litton assumed the loan apparently. Litton lost a year of payments, a mortgage broker put me in a sub prime loan I didn't know I had until closing (My credit score was 693 at the time!).
The State is investigating. Of course I have pages of this stuff from Litton Loan. Too much to put on a website. It's incredible.
Good luck to anyone doing business with Litton Loan Servicing. Prayer stopped working for me long ago.
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