Comments on: Aurora Loan Services Saga, Part 3

By: hardaway

hardaway — Mon, 07 Mar 2011 00:58:00 +0000

I ended up doing a short sale because I had to live in Phoenix. I stayed
current until right before I sold. I bought a small condo in Phoenix for
cash. I got a car loan. Then I short sold. My credit got hit,from 729 to
650. To get a mortgage now, you need 750, 22% down, and 6 months of payments
in the bank. My credit lines were slashed.

By: Tall1001

Tall1001 — Mon, 07 Mar 2011 00:33:00 +0000

Well…we are underwater with our mortage.. the option arm loan will adjust in about 6 months from now.
short sale is an option. Something i just learned though is if you plan on going thru with a short sale or even a foreclosure, its to make sure you pay off all of your credit card debts before walking away.
because once we walk away from our propertys, our credit card rates will triple, and it will take 30 years to pay off these cards. it will be much easier to build credit on a card with a zero balance than one with excessive interest/penalites and the like.
Our loan will adjust, making it so that we will have to pay almost $6,000 per month to live in a 2 bedroom one bath house in the SF Bay area. sigh. i wouldnt do a chapter 13 though it is tempting.

By: secured loan

secured loan — Wed, 05 Jan 2011 05:04:00 +0000

good one…. very nicely described everything.n

By: hardaway

hardaway — Sat, 18 Dec 2010 16:15:00 +0000

I never received the papers, and just continued paying the modificationrnuntil last month, when I finally short sold my house. Just as an fyi, evenrnthough I was current when I sold, and the house was $240k under water, whichrnmade any other kind of sale impossible, it is already reported as an adversernincident on my credit and my other credit card lines have already been cut.

By: JIMMY

JIMMY — Sat, 18 Dec 2010 15:35:00 +0000

Aurora told me 15 days ago they would send a pkg for my loan mod but I am still waiting. Did you ever get your promised papers and did you ever get your loan mod.

By: Jen_siem

Jen_siem — Tue, 24 Aug 2010 20:28:00 +0000

http://www.hbsslaw.com/cases-and-investigations/aurorarnrnFinally a good class action against Aurora!

By: hardaway

hardaway — Sat, 21 Aug 2010 21:17:00 +0000

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By: Jnatal

Jnatal — Tue, 06 Jul 2010 19:17:00 +0000

The GAO report issued several recommendations to Treasury, including that it establishrnrn * procedures to track HAMP complaintsrn * further efforts to inform borrowers to use the HOPE Hotline if they have been incorrectly denied HAMPrn * consequences for mortgage servicers for noncompliance with HAMPrnrnhttp://tinyurl.com/33oc6cx

By: Jnatal

Jnatal — Tue, 06 Jul 2010 17:17:23 +0000

The GAO report issued several recommendations to Treasury, including that it establish

* procedures to track HAMP complaints
* further efforts to inform borrowers to use the HOPE Hotline if they have been incorrectly denied HAMP
* consequences for mortgage servicers for noncompliance with HAMP

http://tinyurl.com/33oc6cx

By: hardaway

hardaway — Tue, 15 Jun 2010 00:05:47 +0000

That's so funny, because I have come to the same conclusion as you have,
except for the Chapter 13 part, so I am continuing to pay. I've been told I
have a moditication but I have not see any executed paperwork from Aurora.