Determined!! Starting Litton Loan Mod

[Joel Fraser]

:confused: Since January 2008, we have been trying to refinance, to no avail - when we had the value, we had a prepayment that pushed us over. We now owe a lot more than home is worth....about $52000.00 more. House was comped yesterday. We have a first serviced by Litton and a second (80/20) serviced by Wilshire. The balance of the first is just shy of $274,000.00. Currently, our interest rate is 7.55% (not great, but doable). As of November 1, it goes to 9.125% and increases our payment $358.00 for a new payment of $2370.62. Cannot afford that. I began contacting Litton in June when refinancing was now impossible and we were told to wait until July....then August....then September. Customer service...did not know to not talk to them at the time. Anyway, we are using Consumer Credit Counseling to get our debts under control, my husband changed jobs in '07 due to his job going away. We lost $600/month from that. I am self employed and business has slowed, but is still pretty good, I lost child support for my oldest child($513) and now that Boeing is on strike, I will not receive my remaining support (over $900/mo) until that is settled. I did up a hardship letter, got my w-2's, schedule C's, paystubs, 3 months bank statements and I got a list of comps in my development to show lost value. I faxed that in to 714-314-4705 yesterday. I then emailed my hardship letter yesterday afternoon to llitton, michael.whitfield, steven.droddy, akelley and efolk. This morning - bright and early - I got a call from Brenda Garza stating they got my hardship letter, but not my financials and could I email them again. I am not only going to fax, but I will send them registered mail. Consumer Credit shows a surplus each month of $245.00 and due to loss of child support due to strike, we are in the hole. CCC is working up a new budget on 10/9 to reflect changes and verify all income and outflow. What next...what can I do to make this work.