On 3/22/07 I refinanced with B&J Financial at 2.605% with a 5yr. Fixed. I refinanced because Homecommings took over when World Savings went under. My loan with World was at 6.150 Homecommings raised it to 7.750%. On 4/4/07, BSM Financial baught the loan and the rate went to 5.430%. On 4/14/07 Aurora bought the loan from BSM and the rate went back to 7.750% and omited the five year lock. The minimum payment of $2,165.26 does not include pricipal and interest. My original loan at World included pricipal and interest on all payments. When I refinanced with B&J all payments included pricipal and interest and never rose above $2,135.21 for the life of the loan. I do not make enough money to qualify for a $558,719.92 loan at 7.750%. The payment with principal and interest wold be $3,900 per month. My credit report does not show the transaction that I made with B&J or the transaction that I did with BSM. It only shows the loan going from Homecommings to Aurora. I have "Truth and Lending Disclosure Statement"s from B&J and fom BSM. The only one with my signature is the one from B&J at 2.605%. Aurora says that I am in default. They want me to arrange a short sale. I refuse.
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