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brokemama · 03-04-2009, 11:19 AM

Thanks, Walking. It was precisely because of these stories that I bypassed Aurora and went to the CEO of Fannie Mae. That is what got me an offer within 2 days; one that I have rejected and countered. But I'm waiting to see if NACA can get their proposal accepted as that is the best one. FAnnie offered me 5% fixed 40 years, or 3.875 for 2 years and then 5.875 fixed, also for 40 years. My current rate is 5.875 and I have 26.5 years left. I said no go, I will not extend by one day and do you want the house back? They don't and he said he would give me 5% fixed for the remainder, but I'm still holding out for the NACA proposal. They will not do a principal writedown but I said we all have to share in the problem so the interest rate needs to be lower. Aurora stinks for sure, but thankfully they are not the final answer.

03-04-2009, 11:19 AM	#51 (permalink)
brokemama Senior Member Join Date: Nov 2008 Posts: 203 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: Aurora Modification SUCCESS!! Thanks, Walking. It was precisely because of these stories that I bypassed Aurora and went to the CEO of Fannie Mae. That is what got me an offer within 2 days; one that I have rejected and countered. But I'm waiting to see if NACA can get their proposal accepted as that is the best one. FAnnie offered me 5% fixed 40 years, or 3.875 for 2 years and then 5.875 fixed, also for 40 years. My current rate is 5.875 and I have 26.5 years left. I said no go, I will not extend by one day and do you want the house back? They don't and he said he would give me 5% fixed for the remainder, but I'm still holding out for the NACA proposal. They will not do a principal writedown but I said we all have to share in the problem so the interest rate needs to be lower. Aurora stinks for sure, but thankfully they are not the final answer.