Posted on: 22nd Aug, 2009 04:13 am
Is Litton Loan servicing a good/bad company to work with when requesting a loan modification?
i can't comment specifically on litton, but i've seen negatives in some of the posts here.
as for "good/bad": it seems like nobody is getting a very good reputation when it comes to modifications. based on what we read and hear, modification is a whole mess throughout the industry.
i guess the key is being prepared on a borrower's end with as much ammunition as possible to convince a lender of a need, to have an advocate (preferably free) to work with a borrower, and an understand, cooperative heart on the lender's end who is also willing to work diligently to get the deal done.
yes, i do go on and on at times, don't i?
as for "good/bad": it seems like nobody is getting a very good reputation when it comes to modifications. based on what we read and hear, modification is a whole mess throughout the industry.
i guess the key is being prepared on a borrower's end with as much ammunition as possible to convince a lender of a need, to have an advocate (preferably free) to work with a borrower, and an understand, cooperative heart on the lender's end who is also willing to work diligently to get the deal done.
yes, i do go on and on at times, don't i?
One can not comment about the company labelling it 'all good' or 'all worst' so always it is mixture of opinions about the company.
As george, rightly said modification is always a tedious task for all those involved because after all it is a cost cutting.
I think industry expert will admit this fact. don't you?
As george, rightly said modification is always a tedious task for all those involved because after all it is a cost cutting.
I think industry expert will admit this fact. don't you?
Is it always going to happen that modification of the loan are 'soar grapes' for the people?
Does any lender like modification?
Does any lender like modification?
Hi fredwaltz!
Welcome to forums!
It is very important for a borrower to convince the lender for a loan modification. If the lender is not convinced, he would not agree for a modification of the loan. As a borrower, you will have to write a hardship letter to the lender. You need to inform the lender about your financial crisis in details and let him know as to why you are unable to pay off the loan. If the lender is convinced, then you could receive a modification.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is very important for a borrower to convince the lender for a loan modification. If the lender is not convinced, he would not agree for a modification of the loan. As a borrower, you will have to write a hardship letter to the lender. You need to inform the lender about your financial crisis in details and let him know as to why you are unable to pay off the loan. If the lender is convinced, then you could receive a modification.
Feel free to ask if you've further queries.
Sussane
and, by the way, i'm sure those grapes are in the clouds by now, soaring ever higher.
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