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Walking Away · 12-09-2008, 11:40 PM

Aurora home retention department is knowledgeable and friendly and I've had good conversations with most of them, but they are among the most heavily reported companies on a popular complaint site for not modifying borrowers despite their promises and for other unethical practices(I'm new here and not sure if it is okay to mention the specific site on this board). The home retention department is irrelevant if the underwriters are told by the CEO to not modify borrowers. I can only speak for myself and mention I've read a ton of internet complaints on them. So far they have completely hosed me and now I know I'm not alone after searching the web and a few people on this site. 1 person on this site said he got modified and would post when he got his paper work, but he never posted again to say he got his loan mod papers. I'm surprised this site has so few bad comments about Aurora despite other sites who have heavy complaints. They're large Alt-A company like Indy Mac; so maybe the complaints will pick up as Alt-A crashes down. For me my only hope of keeping my home is a loan mod that would reduce my payment. Aurora put me instead on a repayment plan with no rate reduction because they said I had to first do repayment plan and make 3 good faith payments that were $100 more than my regular payment. They said I qualified for repayment plan because I had a $250 surplus of income to expenses. I worked like mad about 60 hours per week every week to make the payments and then applied for the 6% loan mod. I'm blue collar and the shoulder and back pain do not allow me to work 60 hours/week year round, but a 40 hour week is okay and the 6% loan mod would knock about $375/month off my loan and would save my home. So I did repayment plan and then reapplied for the 6% loan mod and was stunned when the underwriter denied me because my $250 surplus had strangely grown to a $1,400 surplus. This made no sense at all but borrowers are never allowed to talk to underwriters or question anything they do; so I got rejected with no recourse. Aurora said they don't take part in Hope for Homeowners new program and my last hope is what's called a Fannie Mae Home Saver. With this; you pay the same payment as before; and then the borrower also gets a separate new loan at 5% for money owed. They call this a "Home Saver Program". It should be called "Walk Away Deal Clincher". With me I now owe 5 payments because I missed 1 initially and there was a 2 month delay as I waited for repayment plan and now another 2 month delay as I waited for loan mod decision and now wait again for Home Saver Program. Each time waiting I'm told not to pay them which is odd as it puts me further behind. I offer money but they say not to pay. Don't they want money? The government help line told me today to try a short sale and to get a bankruptcy attorney so I'll call attorney tomorrow. I like the house and will keep it if I'm modified to 6% range, but I'm baffled why they prefer to foreclose instead of modifying. If modifyed in April I would have made 11 payments this year instead of just 7 and I'd be psyched to keep the house. So none of this makes sense to me and I've read a ton here and still don't get it. Although lately Moe has began explaining the loan servicers are the main problem and maybe only judges can force loan mods and/or principle reductions(the best solution). I'm very curious to see how you make out with Aurora and wish you luck and hope you post how you do. I hope you do better than me and others on web.

12-09-2008, 11:40 PM	#1 (permalink)
Walking Away Senior Member Join Date: Nov 2008 Posts: 324 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Aurora Modification SUCCESS!! Aurora home retention department is knowledgeable and friendly and I've had good conversations with most of them, but they are among the most heavily reported companies on a popular complaint site for not modifying borrowers despite their promises and for other unethical practices(I'm new here and not sure if it is okay to mention the specific site on this board). The home retention department is irrelevant if the underwriters are told by the CEO to not modify borrowers. I can only speak for myself and mention I've read a ton of internet complaints on them. So far they have completely hosed me and now I know I'm not alone after searching the web and a few people on this site. 1 person on this site said he got modified and would post when he got his paper work, but he never posted again to say he got his loan mod papers. I'm surprised this site has so few bad comments about Aurora despite other sites who have heavy complaints. They're large Alt-A company like Indy Mac; so maybe the complaints will pick up as Alt-A crashes down. For me my only hope of keeping my home is a loan mod that would reduce my payment. Aurora put me instead on a repayment plan with no rate reduction because they said I had to first do repayment plan and make 3 good faith payments that were $100 more than my regular payment. They said I qualified for repayment plan because I had a $250 surplus of income to expenses. I worked like mad about 60 hours per week every week to make the payments and then applied for the 6% loan mod. I'm blue collar and the shoulder and back pain do not allow me to work 60 hours/week year round, but a 40 hour week is okay and the 6% loan mod would knock about $375/month off my loan and would save my home. So I did repayment plan and then reapplied for the 6% loan mod and was stunned when the underwriter denied me because my $250 surplus had strangely grown to a $1,400 surplus. This made no sense at all but borrowers are never allowed to talk to underwriters or question anything they do; so I got rejected with no recourse. Aurora said they don't take part in Hope for Homeowners new program and my last hope is what's called a Fannie Mae Home Saver. With this; you pay the same payment as before; and then the borrower also gets a separate new loan at 5% for money owed. They call this a "Home Saver Program". It should be called "Walk Away Deal Clincher". With me I now owe 5 payments because I missed 1 initially and there was a 2 month delay as I waited for repayment plan and now another 2 month delay as I waited for loan mod decision and now wait again for Home Saver Program. Each time waiting I'm told not to pay them which is odd as it puts me further behind. I offer money but they say not to pay. Don't they want money? The government help line told me today to try a short sale and to get a bankruptcy attorney so I'll call attorney tomorrow. I like the house and will keep it if I'm modified to 6% range, but I'm baffled why they prefer to foreclose instead of modifying. If modifyed in April I would have made 11 payments this year instead of just 7 and I'd be psyched to keep the house. So none of this makes sense to me and I've read a ton here and still don't get it. Although lately Moe has began explaining the loan servicers are the main problem and maybe only judges can force loan mods and/or principle reductions(the best solution). I'm very curious to see how you make out with Aurora and wish you luck and hope you post how you do. I hope you do better than me and others on web.