SS with Litton Loan??

Foreclosures, Short Sales, Tax Foreclosures
1

Has anyone done a short sale with Litton Loan?? ???

If so could you please pass any information and/or helpful hints on working with them along to me…THANKS so much!!!

2

Audrey - IN,

Litton Loan is a loan servicing company. As such, they do not actually have the final say as to whether the property will be available for a short sale. I contacted them at one time about doing a short sale. They will want you to send them all the information on the property and then they will have a appraisal done (which you will pay for) to determine if there is any equity in the property. If the value of the property is more than the loan amount and the foreclosure costs, they will probably not allow the short sale. It takes about a month to get an answer from them. It was worth more to me to take over the property and get it taken care of quickly. Also, they will report a loan write off on the owners credit, so it will reduce their credit score, just not as much as a foreclosure would.

Wilson

3

Thanks Wilson! I will give it a shot & see if I get anywhere!! I’m in the process of working on a SS with Countrywide right now as well, and am seeing how different all of these lenders really are… ::slight_smile:

Thanks so much though!!