I'm going to begin by saying I know that a lot of folks are going through this right now so by my speaking out I'm no different, but thought this would be a good place to vent. Here is my current situation as of this October th 2010 about 1 year since we filed for a short sale. That's right, 1 year ago we started the short sale process, and to this very day nothing, and I mean nothing has been done to make it easy for us. We provided the short sale packet 3 times and each and every time they kept losing the file. Saying that they were so overwhelmed by all this, that they will need the information again. I mentioned that I don't feel comfortable with my social security # and all my personal information just floating around somewhere or locked up in some file cabinet. As time went on I would continue to find out where they were at in the process and they mentioned all documentation that they needed for the short sale was in hand and they now needed to get it to an underwriter. They mentioned that could take 60 to 90 days from filing. Well, because they lost the file on 3 occasions the paperwork got submitted in May so they had a date of review of July th. As July th came and went and still not submitted to an underwriter our buyer walked as they couldn't wait any longer and mind you they can only be cash buyers as the house resides in a rental community as the owner owns more then 10% of the property as he couldn't sell off all the units so now he rents them so nobody could get a loan to purchase the property. As that buyer walked and I warned Aurora on numerous occasions that the buyer was getting fed up. I had second and rd offers, but they all walked as the process was taking forever and other opportunities came up. So now we have a second offer and the property value has dropped since the first offer was made. That would be Aurora's loss by the way for not listening to me when I told them what the houses were going for at auction and this offer was at least $90,000. Well what do you know I called them to hear that the offer has been approved. Really? Did nobody hear me when I said the buyer walked. So when we called them to mention this they mentioned we needed to send in a whole new short sale packet so we did. Now another month goes by and there is a pre recording to say the short sale was denied because the buyer walked. So I called and mentioned we knew that months ago, but now we're onto another offer. They read the notes and mentioned we've got great news. The packet has been submitted to the same underwriter. Another few weeks go buy and I speak to a supervisor and she states that the second packet was never received. My God! Here we go again. These guys are running a circus act and nobody has a clue what's going on. They are so in over their heads. Whatever happened to the 700 billion dollars that they all got to get us out of this mess? I know... They invested into treasury accounts and are planning on banking on that as we all suffer this housing crisis. As they will flood our markets with foreclosures and that will be the new norm in buying a house. It has to stop and these guys better get their act together. The second offer I had on my house is still going through approval process, but guess what? Aurora took so long that at the end of this month my house goes up for public auction and the buyer I had is subject to walk as well. Again, I know I'm not the only one going through this, but as I read everyones reports these guys do have their heads up their a#@!
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