About three years ago I took a mortgage loan out on my house. The first mortgage holder was Fairbanks Capital, which sold the loan to Ameriquest, and then to Litton Loan.
The problem began when I was out of the country and missed a payment to Ameriquest. Upon my return I called Ameriquest, and they told me that I could make an additional $200 payment, for six months, in addition to my regular payment of $750.46. They said they would send the paperwork for me to sign.
Instead, I received a notice from Ameriquest that they sold the loan to Litton. I received a letter from Litton telling me they bought the loan, and they included temporary payment coupons in the amount of $750.47 a month. I called Litton (many times before a got a real person to talk to) and asked if I should include the additional $200 I agreed to pay Ameriquest. They said no, just send the $750.47, which I did.
Two months later Mr. Joe Brisco from Litton called to tell me they were going to foreclose because they had not received any payments.
I contacted my bank and they confirmed that Litton did receive the checks and cashed them. When I presented the bank proof to Litton they said "Oh, we found the funds, but they were not credited to your account." The only thing they could do to correct the situation was a forebearence, which would cost me approximately $4,000.
At this point I contacted my attorney and turned it over to him. He admitts it is the most frustrating case he has ever encounted because of the practices of Litton — not returning calls, answering correspondance, changing legal representation several times, etc.
After about three months of getting nowhere with the problem, my attorney filed a lawsuit against Litton, and then somehow Deutsche Bank National Trust Company entered the picture. There was a court appearance, but nothing was resolved because the attorney for Litton didn't have all the fact and was not familiar with the case.
Then a date for a jury trial was set. Several days before the trial my health took a turn for the worse — I couldn't go on, I just gave up. I felt that nothing would be resolved at the trial, I would owe my attorney more money which I could not afford.
From all I have read on the internet about other peoples' experiences with Litton, I'm sure nothing would have been settled — it's their practice to drag things on and on until the homeowner gives up, which I have almost done.
I don't know what is going to happen next. I hear that they drag their feet on foreclosures, and then once they do foreclose, they keep changing the date of the sale.
This is the short version of the story.
To make a long story short, I ended up in the hospital three different times with a nervous breakdown, lost my jo
0 comments