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I have just went through the *** of Litton Loans and I can tell you why they dont provide the service you want.Theres more money in the foreclosure process than in resolving your modification. Thus they dont have a motivation to modifiy.

A loan is insured from the goverment so Litton can on foreclosure report the total of your loan as a insured loss basically a tax write off In addtion litton keeps whatever funds you paid them up to the default date On top of that litton gets to auction off the property at the local courthouse for cash regardless of the tax credit amount to settle the debt. Even with the lower values of your property litton will make 200% of the loan value with you in foreclosure as in my case I paid litton 75k on my home for a 275k loan went into foreclosure due to Job loss I spent 9 months and all my savings like a fool and in the end filed Chapter 7 for all their efforts litton gets the following 70k i paid plus interest a tax credit of my loan maturity 675k plus change and a sale of my home of 200k plus which is around 945k all told I got nothing plus a 3k lawyer bill and a ruined credit history. I am debt free due to bankruptcy and I will never buy a house again Why do you think the banks are reporting massive gains now especially Goldman Sachs (littons owner btw) Dont let them scare you they are not at risk nor are they motivated to modify your loan They will lose money if they do.They stand to double their money if they leave you hanging out to dry and youll get nothing in return

If you cant make payments File Chapter 7 and walk away rebuild your life and chalk it up as a life lesson

The goverment program doesnt change this one bit They have far more influence than the little guy and frankly many loopholes and lawyers to string you along. You can only trust yourself dont let others think for you.

Monetary Loss: $275.

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Since I wrote this comment I filed Chapter 7 after over hundreds od non returned phone calls to Litton as well as a phone calls from their attorneys who refered ne back to the same person who dodged my calls in the first place in the end i filed Chapter 7 and litton had their attorneys place a stay onm y Chapter 7 and foreclosed on me without ever trying to work anything out They also locked up my house one day after the sale and locked up my premises with my belongings in it which the locksmith had searched through and was loading onto his truck when I had arrived to get my mail and remove some of which fornately when he was still changing the locks I had to have my attorney get them to allow me time to remove my belongings I was told it my bankruptcy would of allowed me to remove my property within 30 days which they didnt allow they gave me 14 days and secured the property after 7 with my property still on the premises. Hmmm your comment is as naive as your sacrcastic name I do hope you go through this in the future so you can experience the abuse firsthand I had a lawyer and they still didnt bat an eyelash to screw me out of our home we owned for 45 years in my family Oh and by the way they 1099 me on my taxes for foreclosure for 187,000 dollars giving me a 200,000 earnings for 2009 for someone on unemployment which I made 24,000 on and now I have to fight the IRS over.Also your Chapter 7 comments show you dont know anything about US Bankruptcy court.


first of all, oberdu, it is absolutely NOT cheap to foreclose. that would be the absolute LAST resort for any financial services company.

a loan servicing company has many reasons to modify your loan most recently being the HAMP agreement guidelines. the bottom line is that you signed a whole stack of documents when you got your loan, missed a payment, possibly even more than one, and now you are being foreclosed. no other variables matter. unfortunately, it doesn't matter if you lose your job, get sick, etc.

you still have to pay.

and your easy "file chapter 7" advice is not really the way to go. it's difficult to file and doesn't mean you won't be responsible for your mortgage payment.


We too have been duped my the Litton modification scam. We have obtained an attorney to pursue further actions against Litton and Titanium. If anyone would like to join us please email us at There is definitely strength in numbers and if we unite in numbers we have a better chance of receiving some remedies.

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