Unemployment, loan mod ? Aurora

[katcity]

I need some advice or direction/opinions. I have been out of work for approx. 6 months collecting unemployment, our credit cards are now maxed and savings depleted. going forward we will not be able to afford credit card payments but as of now are credit is fair, about 700. We love our house and dont want to lose it. My wife is the only one working now. we have an arm the will adjust in 2 years. Is a loan mod right for me, would I even qualify since I am not currently working? Where do I start? Do I quit sending mortgage payments in? Anyone? thank you
Our mortgage is with Aurora.

This site is great - from reading the posts and responses it has given me a sense of comfort and a better perspective. And the will to endure whatever we will be going through til we get on our feet.

[Evan Bedard]

Hi katcity welcome and thank you for joining the community.

How long is your unemployment good for?

[katcity]

til November, however I may get an extension for an additional 60 days

[katcity]

we now owe more than our house is worth, about 70k more since the downturn. And we have not been late on any of our bills... til the next cycle anyways because we cant afford it. Thanks for the insight.

[katcity]

Suggestions anyone?? do I need to rephrase my question?

Danke

[Hopefull2009]

Aurora's mod information states that they'll consider unemployment only if it is expected to last 3 years or more (it's included in "unearned income" category). They may offer some sort of forebearance plan or alternative until your income situation is more stable and then modify. Have you spoken to them yet?

[katcity]

Yes.. before I found this website I had called and told them I lost my job if there was any kind of loan modification program they had. And they said no. That the investor is not participating in the Obama thing. I said ok and that was it.

[I'mSickOfThis]

Originally Posted by Hopefull2009

Aurora's mod information states that they'll consider unemployment only if it is expected to last 3 years or more (it's included in "unearned income" category). They may offer some sort of forebearance plan or alternative until your income situation is more stable and then modify. Have you spoken to them yet?

Hi,
Where did you find information on Aurora? Do you know whether you have to be delinquent before they'll consider a mod? We're current.
Thanks in advance.

[Hopefull2009]

Originally Posted by I'mSickOfThis

Hi,
Where did you find information on Aurora? Do you know whether you have to be delinquent before they'll consider a mod? We're current.
Thanks in advance.

The information is contained on the workout package information on the website. You can print everything right from there. I'm on my 3rd attempt at mod with Aurora, this time the making home afforbable modification program.