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Aurora Loan Services / They're the worst

1 United States Review updated:
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Almost 2 years ago we refinanced our home. Our loan was sold to aurora loan services. Because of the economy our income decreased while the value of our home went down 140, 000 since we refinanced, so as of this date I owe 100, 000 more than what the house is worth. Aurora loan services offered to help us deal with this problem and possibly re-write our loan and/or lower our interest rate. We submitted all the documents they requested and waited for their response. After waiting for over a month they sent a letter saying that we did not qualify for assistance because we did not meet the criteria set by their investors/insurers. I still don't know what that means...

Va
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  • Ca
      19th of Sep, 2008
    0 Votes

    We have also had all kinds of problems with Aurora Loan Services.

    I would recommend you file a complaint with their regulatory agency, the Office of Thrift Supervision. Their web site is www.ots.treas.gov

    It is probably really important to document problems now that their parent company, Lehman Brothers, has filed bankruptcy.

  • Da
      12th of Oct, 2008
    0 Votes

    The CEO of Aurora Loan Servicing is currently Tom Wind, former CEO of Chase Home Finance.
    Google his name and you will find it.

    Unfortunatley I have not had good experiences with Aurora.
    They are indeed deceptive when it comes to helping homeowners in distress.

    My advice when dealing with Aurora is to keep them on a short leash with an attorney close by.

  • Si
      14th of Oct, 2008
    0 Votes

    I closed on my home in 2005 with Lehman Brothers who then sold the loan to Aurora. This nightmare started with the realtor/ real estate broker they had the home i was buying as a single mom "inspected" turns out the inspector was friends with both the broker and the agent. They told me the house was fine. I bought this house for $250.000.00. It is not in a very good neighborhood at all but because of the price i dealt with it. However, it is the GHETTO! I began paying my mortgage and slowly the paint began to come of the walls. The bathroom fell apart, there were leaks in almost every room, the house was full of turmites, my electric bill has gone upto $700.00 a month, all the windows were messed up. I called the electric company to see if they could come evaluate and when they did they couldn't because there was no attic door. ???? How do you inspect a home that does not have an attic door? There was no insulation in the roof and come to find out the house had previously caught on fire they never replaced the beams it was crazy. This house was getting worse week by week. I called Aurora because it was getting harder and harder to make the payments. They said they would restructer my loan and give me a real low interest and that they would include the insurance and the taxes in my mortgage which was a lie. They did not include my insurance and not sure about the taxes. My mortgage payment went from 1, 400. t0 2, 800.00 a month and when this whole thing began with the prices of the homes going down they did not want to help or even listen to what was going on. The last person I talked to told me we are not going to lower the price of your house there is nothing you can do. They did not offer any assistance at all. It was like nothing was going on around them. I talk to someone who says that I do have mortgage fraud however they want to charge me 1000.00 a month to help me. I can't do that its rediculous. Aurora is not working with any of the new plans that the Goverment is coming up with and they don't care to.
    Have any suggestions on what I can do? I received a sale date and moved out already which was August 13th 2008 last week the first week in October I received a letter the the sale date had been changed to September 19th 2008????? What is that?? It already passed. I had to give my dogs up and they are probably going to be put to sleep, my son is quadreplegic and he had to leave his accessibility and other commodities for his handicapp this is just the tip of the iceberg.
    Silvia

  • Na
      13th of Nov, 2008
    +1 Votes

    It's so sad, with all of us trying to do the right thing, why can't we work through it all?
    I have the same case scenerio as the majority of you. What can we really do?

    It's just so frustrating.

  • Le
      21st of Jan, 2009
    +1 Votes

    Hey Patton, I received the same letter. I was good enough to get a loan, but not good enough to be modified. Can't wait for Aurora to fold and all their employees lose their jobs.

  • Cu
      17th of Feb, 2009
    0 Votes

    I agree with all of sentiments!! I purchased my home a year and half ago just before the mortgage melt down. Our mortgage was beginning to become late dur to a our inablity to sell our previous home. Aurora stated they would modify our loan and work with us. We also sent in various amounts of paperwork, only to have them foreclose and tell us that we "don't make enough money". That's funny didn't they approve us for the loan in the first place!! on top of that they sold part of our loan to another company and wnat us to pay $100K on a loan that they sold to them. ...ridiculous!! I want to sue them but not sure what to do.

  • Fr
      3rd of Mar, 2009
    0 Votes

    We have been trying to short sell our home that Aurora holds the mortgage on. Had an offer of $280 in Sept 08 they took so long to approve, the buyers were no longer interested. The next offer was $265, 000, and again, they took so long to approve it that the buyers were no longer interested. Now we have an offer of $248, 000, and again, it's excuse excuse excuse from Aurora. This is costing them money, but they just don't care. They have actually said to me that foreclosure is fine with them, and they won't lose any more money if they foreclose than if they accept a short sale. That's ridiculous, because they'll lose at least another $50K if they don't approve this short sale and let it foreclose. What idiots!

  • An
      29th of Jun, 2009
    0 Votes

    Same issue with us; as above. 2 short sales with waiting...waiting...waiting... Aurora requesting new documents every week. Documents sent mutiple times and lost. During short sale processes we lost income and stopped paying mortgage. Thought short sales would go through. Managed to pay off all other debt. After being unemployed for three months we have income and tried to modify. Aurora will not work with us. We are considering forebearance; will have to get help from family as we have taken a 60% drop in income. After forebearance we might be able to do a deed in lieu... Right now we're trying to save our already damaged credit. I have spoken to Aurora over 30 times in the last 4 months. I hear something different every time. Now we also face a HUGE bill from the attorney that was dealing with short sales since short sales didn't go through...$7000+ for 5 months of work???? Just when I think it couldn't possibly get worse...it does...I hope someone out there has come out with a happy ending in dealing with Aurora.

  • De
      24th of Jan, 2010
    0 Votes

    Everyone just file a complaint with the Office of Thrift Supervision

    http://www.ots.treas.gov
    that all we have to do to get something started

    EVERYONE START COMPLAINING AT THE WEB ADDRESS ABOVE ABOUT AURORA LOAN SERVICE. THESE LENDING PREDATORS NEED TO BE STOPPED.

    WE THE PEOPLE CAN DO THIS!!!

  • Ch
      22nd of Feb, 2010
    0 Votes

    I agree with the above. I will write a complaint to the above web address today. I have been through a loan mod with Aurora starting 11 months ago. Everytime they would request more information I would immediately send it. Two weeks ago they again requested the same information regarding tax records, pay stubs on an on...I made a follow up call to make sure they received all the information requested...Today I received a letter closing my file after 11 months for failure to provide the information. Another call 2.5 hours on the phone, where the person I was speaking to did in fact find the information reopened the file...again I wait and make more calls...What a waste of time and money not to mention all my personal information is somewhere in space somewhere...What a joke...

  • Dm
      16th of Apr, 2010
    0 Votes

    HELP PLEASE!!! WHAT IS TOM WINDS CONTACT INFO????????

    I have had a contract on my home since December and it is a Short Sale .Per Aurora it has met the criteria for a Short Sale. i have submitted all of my paper work however the file has been transferred to three different negotiators which takes 60-90 days to review the file. It seems that if they have a buyer why not expedite the frickin file so they can get it off of their books. i keep getting the same run around. Does anyone know how to get a hold of Tom Wind?? I feel as though I am always speaking with" TheS tepford Wives" when I call Aurora WHAT IS TOM WINDS CONTACT INFO?????? HELP PLEASE!!!

  • F1
      10th of Dec, 2010
    0 Votes

    I purchased my home four years ago at 440, 000 and was just reassessed at 235, 000. I was dragged through over a year trying to get a loan mod through Aurora, and they kept requesting documents that I had already sent several times. I finally received a denial letter two weeks ago, stating they did not get required documents in a timely manner. I have spent over 100 hours reading and researching and I have talked with two seperate lawyers, and both said basically the same thing. "Loan Modifications and Short Sales are terrible, Stay away!" Walk away! Walk away!

  • Ma
      24th of Jan, 2011
    0 Votes

    I had so many problems with aurora. I was trying to modify my home for about a year, they kept requesting documents and i kept sending them. They finally put me on trial plan, which i thought was great and things were looking good but 6 months into it i was told i was in review over the phone and 2 weeks after that my house went to sale without me knowing. They said because they didnt get documents in time so my modification was denied. I'm in litigation but its hard and expensive and its been a year. I't was a wrongful forclosure but everytime we go to court were just given another date to go back but until this is settled in court aurora cant sell my home.

  • Ch
      28th of Feb, 2011
    0 Votes

    They are the absolute worst...
    Everyone just file a complaint with the Office of Thrift Supervision

    http://www.ots.treas.gov
    that all we have to do to get something started

    EVERYONE START COMPLAINING AT THE WEB ADDRESS ABOVE ABOUT AURORA LOAN SERVICE. THESE LENDING PREDATORS NEED TO BE STOPPED.

    WE THE PEOPLE CAN DO THIS!!!

  • Ih
      2nd of Aug, 2011
    0 Votes

    I never realized so many people were experiencing the same frustration I am with Aurora! I was trying to get a short sale because I had a significant loss of income and could manage the payments. I had a good offer within a week. Aurora took so long the buyers backed out. The same thing happened again. Finally, I applied for a deed in lieu because they were going to foreclose. That was actually approved, but i had to agree to a 18, 000 settlement. i am making timely payments on that, but the house title hasn't transferred. I call numerous times and either get a machine, or someone who tells me not to worry. I get a letter today saying I owe 173, 000, another letter saying my escrow account is behind 9, 000 (never had an escrow account on this house), and a bill for insurance. I call up and again...run around. They told me the county recorder was the hold up. I called the recorder. They haven't filed anything yet! They are horrible. I filed a complaint with the BBB and a complaint with the Office of the Comptroller of the Currency. Hopefully it will help. If anyone knows of a class action suit, I'm in!

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