About 3 years ago we discovered that our loan was a negative amortization. We started calling the lender then, to see if they refi us, they refused because we weren't late and we had unbelievable pre-pays. We knew then that we were in trouble and eventually we did fall one month behind. We then submitted their modification package 2 times and once the loan sold from Homecomings to Aurora, we submitted it 2 more times. They only offer these huge forebearance agreements that include all kinds of legal fees and misc crap and HUGE amounts to start the agreement. Anyways, they refuse to work with us and give us something we can manage, now claiming that we do not make enough money to pay our mortgage. Due to the market, our house is worth nothing compared to what we owe and we make a lot of money (triple digits). How can they say we can't afford it?
Well, today we are walking away. We found a rental and are moving out. I give up! If anyone decides to do a law suit, do NOT forget me, I'll be first in line with all my documentation (and maybe a baseball bat!). We are renters for the 1st time and cannot believe we have to take our 3 children from their home. Times are tough everywhere and Aurora is NOT doing what the law states they are supposed to, MODIFY. Aurora Loan Services cost us our home and our credit!
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