Aurora Loans

Aurora Loans Lehman Brothers Refused to refinance an Interest only loan 2 years ago, Refused Short Sale, Refused Deed In Lieu of Foreclosure Internet

12th of Jul, 2011 by User681426

4 years ago I signed an Interest Only note for a condo as an investment. After 3 years the note had provisions to refinance. Applied for refinance. Denied. 6 months later applied again. Denied. Put the condo on the market. Real Estate collapsed. Note was for more than the value of the property. Submitted short sale request. They had approved several other units to follow that process. We had a higher offer than any of the other short sales units. Short Sale was denied Aurora Loss Mitigation said they would not look at any paper work until the loan was 90 days past due. Submitted paperwork over and over for 4 months due to their errors. Stop making payments based on their comments. Finally after 7 months I received notification the short sale was denied. The buyers where still interested. Title company suggested I appeal. Appeal denied. Aurora stated they wanted a higher price. None of the other condos had sold at the price they were requesting. Raised the price. Condo did not have any offers. Requested a deed in lieu of foreclosure. Aurora never responded. I just received a notice of foreclosure. I believe these people are crooks. They expected me to continue to pay on a loan where nothing ever went to principal. Now they are trying to ruin my credit. I have had several mortgage loans and never dealt with a company as unprofessional and dishonest as they are. Looks like Lehmans is trying to make up all their losses loan by loan.

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