I entered into contract on July 2 on the purchase of my first home. I have been waiting since that date for approval from Aurora to close. The sellers attorney has had $10,000 of my money sitting in an escrow account for this house which I offered $290,000 on. I in November finally got the approval from Aurora for the short sale, which than had to go to the 2nd mortgage company for approval which was Homecomings which apparently purchased part of the 1st mortgage from Aurora, they too gave their approval for the short sale, but when we went back to Aurora to get a closing date, I was than told they closed their file, and would have to reopen it, today I was told to extend my mortgage approval once again for another 30 days while Aurora gets their paperwork together. Once again I will have to pay a fee to extend my mortgage approval to date I've paid out over $3,000 in mortgage extensions waiting for this house. I still don't have a actual closing date and don't see that I will have one any time soon. I would just go ahead and look for another home but the home prices in the area went up enough where I can't afford to purchase a home now. This is my one shot to homeownership and its being destroyed. I'm also going broke in the process. Something needs to be done to protect people both sellers and buys of short sale's. I seriously believe that Aurora would like this to forclosure.
Very upset with this whole process and don't know what to do next.
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