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Old 09-15-2008, 05:10 AM
 
Location: Broward County
2,518 posts, read 9,690,358 times
Reputation: 1333

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I am talking specifically about the hundreds of thousands of people that have mortgages with Aurora Loans that are going through a foreclosure. Will this delay their eviction even more or will the entire process of foreclosure remain the same ? I have a friend that stopped paying in January of this year his Aurora loan and he just recieved his Lis Pendens 1 month ago and nothing since then.
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Old 09-15-2008, 05:44 AM
 
Location: Venice Florida
1,381 posts, read 5,115,148 times
Reputation: 850
Tell your friend to do us all a favor and start paying their mortgage.
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Old 09-15-2008, 07:08 AM
 
16,700 posts, read 18,909,509 times
Reputation: 6791
I figure the government will take control and sell it all to people who will then take your friend's property and evict them... so I guess your friend has a few more months before he/she is kicked out.. either by another company or the U.S. government..
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Old 09-15-2008, 07:57 AM
 
610 posts, read 2,410,139 times
Reputation: 123
I have a client who defaulted on an Aurora Loan. She lived in the home for 10 months (no payments), house went to auction in early August and she is still in the house. Lender attorney told her she could stay (and maintain the house) through Oct. 31st. I had three offers on the house prior to the auction and the bank was SOOOOO slow that none of them were reviewed in time. House went back to the bank and she is still living rent free. The bank told her she MAY be able to stay longer because of all that is going on and they are having a slow time getting homes re-listed as REO. They'd rather have someone living in them than having them sit vacant. Amazing.
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Old 09-15-2008, 09:21 AM
 
862 posts, read 771,979 times
Reputation: 149
The american financial has collapsed and died from bubbleitis.
The only problem left is how to tell the next of kin.
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Old 09-15-2008, 11:45 AM
 
25,334 posts, read 37,463,648 times
Reputation: 13249
Quote:
Originally Posted by irish setter girl View Post
I have a client who defaulted on an Aurora Loan. She lived in the home for 10 months (no payments), house went to auction in early August and she is still in the house. Lender attorney told her she could stay (and maintain the house) through Oct. 31st. I had three offers on the house prior to the auction and the bank was SOOOOO slow that none of them were reviewed in time. House went back to the bank and she is still living rent free. The bank told her she MAY be able to stay longer because of all that is going on and they are having a slow time getting homes re-listed as REO. They'd rather have someone living in them than having them sit vacant. Amazing.
This is unbelievable and how can they justify this to people who are paying their mortgages, what kind of examples are they setting!!!
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Old 09-15-2008, 01:27 PM
 
1,811 posts, read 5,140,245 times
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They don't need to justify it.

People who are paying their mortgages on time, have good credit. People who don't pay, don't have good credit, whether they got kicked yet or not. Further, it does no one in the neighborhood any good to have a house in foreclosure vacant. If the occupant is maintaining the house, as was stated, it is better for the neighborhood.

I'm not losing any sleep at night because I pay my mortgage and someone else isn't but can still live in their house.
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Old 09-15-2008, 05:01 PM
 
Location: Illinois
718 posts, read 1,749,464 times
Reputation: 970
Well said....let's walk a mile in someone else's shoes for a change.
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Old 09-15-2008, 05:20 PM
 
25,334 posts, read 37,463,648 times
Reputation: 13249
I don't sleep a night less but it isn't right!!!

Other people work hard to pay and others just bought luxurious items and wasted money and still can live for free! What an example for the future for others.

Maybe they should kick them all out and give the houses to people who just lost their house due to Ike and have no place to live and did pay their mortgage!
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Old 09-15-2008, 05:55 PM
 
1,811 posts, read 5,140,245 times
Reputation: 894
And the people who work hard to pay should be proud of themselves and happy with their good credit and the life they made for themselves. I take pride in the life I have created for ME, not the demise of others. People living for free doesn't change that.

There are a lot of injustices in the world..........I can think of a lot more serious things to get upset about than someone living for free for a while longer.
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