Best Way to Pay Litton Loan

[Joel Fraser]

Ok. Here's my story in Tennessee…My husband's loan with Avelo, around $83,000, was recently sold to Litton, and after some research and a few phone calls, we feel like we can't trust those people. We are about four months behind on payments, but plan to catch them up as soon as he gets some inheritance money from his grandfather. On August 4, we received a Notice of Default and Intent to Accelerate letter from Litton, saying we must bring our loan current within 45 days are they will accelerate the maturity date and may then schedule foreclosure proceedings. My question is…Once we have the money, what is the best way to pay Litton? The letter says, "Payment must be in the form of cashier's check, money order or bank certified funds." I have read some horror stories about them holding payments in order to collect fees, etc, and I don't want that to happen with us since they have given us a deadline. I was thinking of doing Western Union, but don't know if they we honor that payment since that wasn't part of the options in the letter. I know a payment is a payment, but I don't know if they will use that as a way to start foreclosure on our home.Anyways, any help or advice will be appreciated. Thanks.