Aurora "Good Faith"

[trying2savehome]

Need some advise

I'm behind 5 months on a 680.000 Intrest at 6.25 fixed 30yr only, house is worth around 480.000 I have been working with a third party and last week Aurora said since I already received a NOD I would need to make 3 "good faith Payments" of my original monthly loan amount 3350.00 starting Jan 10 before they would concider doing a loan mod, does anyone know if this is just a scam to get some more money from me before they say your loan mod is denied.

[Moe Bedard]

Hi trying2savehome,


Welcome to the forum and thank you for joining............
The modifications given are up to the investors on the loans.......only you can make a decision that is best for you and your personal situation as to whether to go forward with the forbearance even though there is not a guarantee that it will result in a modfication.

Have you called Aurora on your own to check if that is the only option on your loan, since a forbearance agreement doesn't need approval from the investor on your loan, it is an easy option for a third party to obtain.... and one that you would be able to get on your own as well............

Aurora Loan Services
1-866-521-3828

[anthem1]

I have Aurora also and it does not surpise me that they told you that. I agree with *** that you need to double check but Aurora never seems to have the same answer twice. Make sure you document name, date, time every time you call. Best of luck. I am curious to see what they say because I have been hassled by them that we weren't deliquent enough to do anything and now the house goes to auction in two weeks they keep sending stuff saying there are options. I really hope things go your way.

[trying2savehome]

I have decided not to pay the forbearnce if I could efford to make 3 payments at 3600.00 I would not need a mod. can anyone think of any other options? I think I'm on my last leg here, I hate walking away but it looks like Aurora is not giving me a choice.

[RetroBoats]

I have Aurora also and it does not surpise me that they told you that. I agree with *** that you need to double check but Aurora never seems to have the same answer twice. Make sure you document name, date, time every time you call. Best of luck. I am curious to see what they say because I have been hassled by them that we weren't deliquent enough to do anything and now the house goes to auction in two weeks they keep sending stuff saying there are options. I really hope things go your way. - Anthem1

From everything I have seen about Aurora these last few months they don't do anyhing except a bunch of double talk....Aurora is systematically doing this to customers they service. So, the hopes of them working with/helping you are empty.

The folks that are getting run-around from Aurora should speak up and band together.......

[brokemama]

I'm another ALS customer (unfortunately), and my app. for a mod is in their system with an expected 60 day notification. I keep calling and getting the same answer. Maybe we SHOULD band together. I want to be proactive and not wait for a denial. Any suggestions? Bombardment of email to top execs? Let's get the ball rolling. I do hope the moderators here will create an ALS folder as it there are probably a lot of us out there.

[RetroBoats]

I think outside pressure have to force Aurora to stop playing games. Individual homeowners from what I can tell don't get very far working directly with Aurora.

[Moe Bedard]

While ALS is a stumbling block in the servicing dept., at the end of the day, there is an investor backing every single loan and very few of them are backed by ALS/Lehman. Each one of those investors loaned homeowners money and they want to ensure they get that money back so they put together pooling and servicing agreement with rules and regulations regarding what ALS and other servicers can and can't do, and a servicer is bound to the investor, by these contracts. The modification decisions that are made and the wait to get those decisions lies in the hands of these investors. Some servicers such as Chase are working with their investors to be able to get a set of guidelines in place up front so that they do not have to go to the investor for this approval. If other servicers would follow suit, the wait times and help would be more prevalent coming directly from the servicers level...........more changes are needed and hopefully will be put in place soon.