Here is the reason WHY Aurora loan service is so crappy, and non helpful and why you get some very bad customer support.
Aurora Loan Service Company is/was owned by Lehman Brothers Holdings Inc. who is currently going through largest bankruptcy in American history. – The Federal Government did NOT bail out Lehman Brothers.
Thus, your Mortgage is in flux, and the employees of Aurora will soon be without a job as well (so their moral is just as low as yours.) They are not participating with the Federal government, because they can’t alter loans or make ANY CHANGES to your current loan. Because they have lost the power to do that by the federal government. (Some of things that customer service does NOT want to tell you.)
In fact, Aurora lost the right to make or alter any loans as of Feb 17th 2008 - http://www.thetruthaboutmortgage.com/aurora-to-stop-wholesale-lending-cut-1300-j...⇄
The company posted the following message on its website regarding the news:
“Aurora Loan Services’ parent company, Lehman Brothers, announced today that it will substantially reduce its resources and capacity in the U.S. residential mortgage origination space in light of the dislocation in the mortgage markets. As a result, Lehman Brothers is suspending all Wholesale and Correspondent mortgage originations at Aurora.
Aurora will continue to originate loans through its direct lending channel, and will maintain its servicing business.
We truly appreciate your business and support over the years. We hope you will consider how Aurora may be able to help you meet your needs in the future.
With sincerest thanks.”
It is believed that the the last day to fund loans already in progress is February 17th, 2008.
So, how did all this happen? Google: “REPO 105”, this is how Lehman Brothers, basically cooked the books to hide BILLIONS of dollars in debt, and it did not come to light until June of 2008.
So, as of now, the ONLY way you can try to get out from under this mess, is to find a new Lender, and get refinanced out from underneath this colossal abortion of a company. Contact your congressman, and or simply wait out this current situation with the courts, if the federal government wont allow Lehman Brothers to fund any money to Aurora, then Aurora will go bankrupt, and the Federal Government will be forced to step in to pay for this.
If you can make your payments, please do, but please understand that NO MATTER what the situation is, Aurora cant alter your loan, and they are on the brink of collapse anyways.
Only in America does so many people live to keep a few sacred cows Rich and stupid.