They are holding my second mortgage. When they got it, it was $12,600 at 12%. Needless to say, I wanted to get this paid off asap. My first payment to them was a double payment. When I got my second statement, I noticed that my balance wasn't much different. When I called them, they informed me that my extra payment had been applied to pre-paid interest because I hadn't directed them to do otherwise. They said they'd reapply the payment (which, amazingly, they did).
My second payment was for $150 extra and there was a very specific note telling them to apply it to my principle. This one was done properly.
My third payment was a triple payment with a very specific letter. It was applied improperly again, with each being applied as a single payment, and very little going to my priciple. If I hadn't caught it, I would have been out hundreds of dollars.
I'm taking out a home equity loan and paying them off. If you can avoid it, AVOID LITTON LOAN. If you can't watch your balances monthly. They'll screw you any chance they get.
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