Aurora Loan Services

Comment

Comment by Kent Dills on March 9, 2010 at 4:56pm

You can always offer to bring some cash to closing, but if you client doesn't have any money and you can prove it - that's a better option. Secondly, I'd much rather offer to have client sign a small prom. note over bringing cash as it's much easier on the low assets and low cash flow that is the case with most short sale clients. Of course, every situation has it's own particulars.

Comment by Jean Beymer on March 9, 2010 at 4:47pm

We have done that...but was wondering if any one has had any luck with any other approach...like...throwing a little money at them "couple hundred dollars"? or...

Comment by Kent Dills on March 9, 2010 at 4:35pm

Jean, I know this is going to sound like - duh - obvious; but, tell them the seller's don't have $10K and refer them to the Financial Statement you submitted. Then see what they say!

Comment by Jean Beymer on March 9, 2010 at 4:31pm

I have had two offers presented to Aurora. Ist offer was accepted but buyer walked. Second offer netted Aurora the same as the first offer. Have a oil tank leak that needs DEQ clean up cost $3500. Buyer lower price accordingly.

We have received a letter from Aurora asking the seller to pay $10K. Seller doesn't have any money.

Any thoughts on best way to proceed with Aurora?

Jean

Comment by Lee-Anne Strickoff on March 8, 2010 at 10:55pm

Just had to go back to square one after they lost a pay stub. Claimed the template has been deleted. It took 30 days instead of the quoted 60 for them to deny based on this. Anyone have ideas on how to stop the 'paper loss' so this doesn't happen again?

Comment by Matha Lewis on March 8, 2010 at 10:51pm

Mori, thank you! Another question on the days/weeks to close. Normally how many weeks Aurora will give to close?

Comment by PaolaMarin on March 4, 2010 at 12:58pm

Fannie Mae over timeframe short sales: 800-732-6643. They might be able to do something for you. Ask for a level 2 representative.

Comment by Mori Langshaw Sr on March 4, 2010 at 12:46pm

Matha, there requirements are 60-90 days from the date it was assigned. 9 times out of 10 it will go a LITTLE faster than that.

Lizette, there is a thread with a Fannie Mae email. Sorry I cant remember where it is on this site but they had much success in stopping foreclosures. What is Aurora telling you? They should be able to postpone the foreclosure as well.

Comment by Lizette Cano on March 4, 2010 at 12:42pm

Help,I have been in process with a shortsale with Aurora since Nov. They keep loosing my paperwork, now were down to the last minute and there countering me less than 48 hrs before a sale date. apparently they need to get fannie maes approval to extend the shortsale and they req. a minimum of 48 hours to do this , im out of time , does anyone have a contact at Fannie mae were I can call direclty ?

Comment by Matha Lewis on March 3, 2010 at 1:23pm

I heard Aurora will approve short sales around 4 - 5 weeks. My short sale offer has been with them over 6 weeks now. Can you share your experience?

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