Aurora Loan Modification Rip Off

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desperado

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Post Posted: Sat Sep 12, 2009 10:01 am    Post subject: Aurora Loan Modification Rip Off
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Aurora Loan Services is the service company for my Freddic Mac first loan; back in May they've called me to advise me that i was late on my payments and that they could help me finding a better way to pay my mortgage on time ; the;ve offered me the Home Afford Plan of President Obama.
After a brief interview on the phone; they came out with an amount of payment that I need it to pay for 3 month called the "Trial Period" I made my payment on time and after sending them 4 payments, Aurora Loan Services called on the phone to tell me that I did not qualify for the plan; in addition to that they send me a default letter; since according to them, although I was making my payments on time; the were considered short payment and they want know to foreclose my home.
When i asked them why I did not qualify; the answer the gave me was that I should used my 401K to pay them.
Entering into the Obamas plan have been a nightmare for me since it just added more fuel to the problems that I already had.
Is this practice legal?

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Icon Mini Profile sunnyca2009





Joined: 04 Aug 2009

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Post Posted: Sat Sep 12, 2009 10:02 am    Post subject:
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Sorry about your situation

Have you called your congressman or sent a letter exapling how this is affecting you?
Laura K.

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Post Posted: Sat Dec 12, 2009 1:27 pm    Post subject:
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Hi Desperado,

I'm a freelance journalist based in New York. I've written for The Albany Times Union, The Jerusalem Post and several magazines.

I'm writing an article about people in exactly your situation, who are having trouble getting Aurora to restructure their loans. There's actually a class action lawsuit that's been filed here in NY.

I'd be interested in hearing more about the experience you've had.

Best of luck,
Laura Kusisto

[E-mail address deleted as per forum rules. Thanks.]
Icon Mini Profile christinehynes





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Post Posted: Mon Dec 14, 2009 5:07 pm    Post subject:
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This is pretty normal and as far as I know not illegal. Banks are not required to approve trial loan modifications after they are over.

According to the MHA guidelines, "Any foreclosure action will be temporarily suspended during the trial period, or while borrowers are considered for alternative foreclosure prevention options. In the event that the Home Affordable Modification or alternative foreclosure prevention options fail, the foreclosure action may be resumed."

Since you were already behind on your payments the bank is allowed to continue with the foreclosure process now that you are no longer in the MHA program. I would suggest getting an attorney to look at a loan modification for you or explore other avenues such as a short sale or deed in lieu of foreclosure.

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Icon Mini Profile gmakerley
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Post Posted: Mon Dec 14, 2009 9:21 pm    Post subject:
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what christine is citing is certainly pretty normal. a negligible amount of people are actually being approved for a permanent modification, despite their doing what was asked in the trial period.

i cannot comment on how a lender looks at what you provide in order to determine qualifications for a modification, but they certainly have to consider the likelihood that you'll be able to continue to meet the specifications laid out. as noted, they can certainly turn down the request.

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Julia

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Post Posted: Thu Jan 07, 2010 12:59 pm    Post subject: California Class Action Lawsuit against Aurora Loan Services
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Many of us in California who have lost our homes or are going to lose our homes to Aurora are trying to get a class action lawsuit together against them. I fall under every catergory listed in the class action lawsuit in NY and then some. Aurora is doing this to everyone!
S.R.Brewster

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Post Posted: Wed Feb 03, 2010 1:36 pm    Post subject: Aurora Modification No Good
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I was a victum of this scam process. They make it seem like all is going to be alright and we're here to help you. They never let you know that the trial payments are no good if the modification is denied. Meaning that the payments are only partial and you still owe the difference. Aurora has a bad communication with the trustees during the foreclosure process. Customers services people just answer the phone and give a lot of incorrect answers. I wish that the President would correct this problem on live TV. Call names if he has to. Most people mean to pay their mortgage but fall on hard times and then they are so depressed that Aurora and others take the advantages of them.
HeatherRN

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Post Posted: Mon Feb 22, 2010 1:59 pm    Post subject: Aurora
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I applied for the Making home affordable program in June of 2009 did my 3 months trial payments. Made all of them on time and my 2nd mortgage as well (since they won't work with me on my 2nd mortgage and it is through Aurora as well). In Sept. they made me resubmit paperwork saying all my income info was out of date and then denied me the program because I had a slight increase of income over the summer months. So I told them I cannot afford these payments and the income increase was only over the summer months and that my income was decreasing again they said they could modify my loan for $100 less than my original 1st mortgage payment. I thought that was highly ridiculous b/c I wouldn't waste my time modifying my loan for only 100$ less. So I got on their forberance plan and reapplied for another home loan modification. It is almost March and I still am waiting. They are sending me statements monthly saying I am 8 months behind on my mortgage as well. I call them because I haven't heard anything. They say they are backed up on paperwork and it is 'first come first serve' and that I should know by April if I will qualify. SO if I don't qualify I am forced into foreclosure which is shady business in my opinion. I am trying to stay positive despite all what I read about ALS.
Tom Ridley

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Post Posted: Fri Apr 30, 2010 9:57 pm    Post subject: Aroura loan slight o hand
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I was approved for the final mod. prosses, they said send in 1600.00 1/2 normall amount, and your approved, congradulations. A week later Aroura said they made a mistake,and they needed the other half of the trial payment. so I made it of corse now its late and there fault. They said docs. are in the mail ,two days ago they changed threre mind and said weve put you back into a review prosses. I WANT /NEED A GOOD LAWYER.

[Email address deleted as per forum rules. Thanks.]
naneek

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Post Posted: Fri May 07, 2010 8:04 pm    Post subject: Aurora Loan Company Plays Games With Home Loan Modifications
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I paid a law office in So. Cal to work my loan modification with Aurora in April 2009 only to be played like a fiddle. Aurora gives you 48 hours notice to respond to details previously provided weeks earlier and claim to never have received the paperwork even when confirmation is in hand. Aurora then starts the 6 month clock all over again. Don't expect anything but hassles and deceptive tactics from Aurora unless you live across the street from their office and contact them in person morning noon and afternoon. Anything less is useless.
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deadnd

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Post Posted: Tue Jun 08, 2010 9:49 am    Post subject: Bs bail out
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The Obama plan is B.S!!!!!!
I have been approved for it, and had to keep resending paper work, that had mysteriously been lost 14 times!
What these MF are doing is they are waiting for you to loose your job and go on unemployment.Then when you have to submit your paper work again,and have no viable income then they default you.

I never missed a payment and have always been current on my loan.
still that wasn`t good enough.

There is absolutely no end to this paper work
There is no accepted outcome to this plan and there is no governing body
to back up this plan.

No lawyer can fix what isn`t real.

Has anyone ever heard of the builderberg group?
Conspiracy theories, really?
Break America and put evryone out in the street.
No Job No place to live total controll over everyone.
totally screwed

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Post Posted: Tue Jun 08, 2010 10:34 am    Post subject: obama
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I have been waiting for 16 months for an approval.
Still nothing.
Every time I call Arora to follow up on the paper work and ask for the
designated person that was handeling my paper work,I get "That person doesnt work here."Or they hang up on me or transfer me to another department.
I am about to loose my mind over the ignorance and inability these people
show towords doing their jobs.
No there is no outcome to this plan just foreclosure.
You still owe a huge amount of money that has been put aside while you are makeing your half payments.
I had to go on unemployment for 3 months and made the mistake of sending them my 2009 t-stubbs w/the unemployment compensation and Arora foreclosed on me.
Still to this date I have no job but can make my house payments however that is still not good enough for Arora even though I was doing it w/o them knowing.
I am sitting in an empty house now,waiting for the knock on the door.
I dont know where I`m going to live because no body will rent me an apartment on unemployment.
I had to sell all my things so that I have enough money to go off the grid and try to live in the street or maybe a fifth wheel.
I sent my wife to live with her sister because: she is as well on unemployment,and I didn`t want her to go through this misery with me.
Most all the people I knew have moved away because of foreclosures and the rest of them seemed to have just dissapeared.
Its hard to beleive that I used to make a lot of money and have a great life.I have been reduced to common trash in the street waiting for the end.

To the guy above me.
Bilderberg group does exist and they are going to go to a one globel governing body and one currency.Prepare for the comeing of Christ.
Within the next year the government will pick a fight with Iran to take the focus off poverty and we will go to war with.
Our economy was set up 10 years ahead of time by the Bilderberg group.
We haven`t seen the beginning of misery yet .
Me 2

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Post Posted: Tue Jun 08, 2010 11:02 am    Post subject: Bomba
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We are going through the same hard times.

The government isnt governing.
They lay out yet another lame ass plan and dont follow through as usual.
It made me laugh when evereyone got togather and voted for Obama,
people are soooo easy to calculate and fool.
Throw togather the feeling of being repressed by all nationalities go get a black guy and start a campaign funded by contributions from unknown sorces in the millions....Bam."CHANGE YOU CAN BELIEVE IN".
I believe about now I will change my mind about believing in this country.
Dems,Reps,Libs,etc,all freakin crooks to no end.
The good old days are gone my friend and they are not comeing back....that you can believe in.!
horn swaggled

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Post Posted: Mon Jun 14, 2010 12:53 pm    Post subject:
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I have been aproved.
I have been on the plan for 2 years.
I have to submit my tax forms and current employment stubbs every
3 months.
I will be laid off next month and no one at Arora will tell me if this will effect me.

I cant wait to get foreclosed on!
This is a nightmare.
Wasiting around to be unemployed.
I can make the payments on unemployment but I dont think Arora
is going to let me do that.
conned and up a creek

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Post Posted: Tue Jun 29, 2010 9:44 am    Post subject: aurora and Obama BS, and lack of formal communication
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I too called aurora when I realized that I was going to be foreclosed on. Apparently it had already happened just days before my calling, although there was no paperwork I received to prove that. They took all my financial information. They said I was a perfect candidate for Obama's plan, and if not, they would work with me towards affordable payments. The customer service rep said "No matter what happens, don't worry, we're not going to take your house, all foreclosure proceedings have been stopped." I really hope they kept the tapes of that conversation so I can use it in court. I am the only person on my loan, as my wife's credit was not that great just a few years after college with no major bills to pay.

I had quit my job 1 year and 11 months prior to needing a mortgage, and was self employed making good money (not a full 2 year job history). Because of this, they gouged me for 8%, meaning right now I'm probably only putting $80 a month towards my principal, and $1000 in interest. They knew I was self employed. I needed the mortgage, so I took it.

In the last 12 months, my industry tanked and I lost a majority of my provable income, which is all they care about; even though with our combined income we can make our payments. I have still managed to make money with random jobs, but again....cash is not provable. Because I was freelance, I had no unemployment to fall back on.

They reduced my payments by about 25% on their genius "3 month trial period", and I sent them all the paperwork. I never heard back from them in writing to confirm formal approval of some type of modification. I then receive paperwork from some attorney and a judge saying that they may be going back on their word to help me keep my house.

WHAT ARE THESE PEOPLE THINKING!!!
SHOULDN'T THERE BE SOME SYMBIOSIS BETWEEN BORROWERS/LENDERS IN THIS ECONOMY?
HOUSES ON MY BLOCK HAVE BEEN ON THE MARKET FOR 2 YEARS!
I HOPE SOMEBODY FROM AURORA CAN PUT A DOWN PAYMENT ON AN APARTMENT FOR ME AND MY WIFE, BECAUSE I PAID YOU EVERYTHING I HAD AND IT RUINED THE REST OF MY CREDIT
I HOPE ONE OF YOUR EMPLOYEES HAS A HOME FOR MY CATS!!!
GOOD LUCK AURORA, YOU'RE GOING TO LOSE A FORTUNE ON MY PROPERTY THAT I'VE ONLY BEEN IN FOR 3 YEARS!!!!!
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