Why does Aurora keep making offers when the house is IIB?

[drowning123]

Aurora keeps mailing me with offers for short sale, deed in lieu and loan modification. They claim "they're attempting to collect a debt." I know it's not a big deal, but it's just odd that Aurora Loan Services already filed a complaint to begin the foreclosure process, while Aurora Bank (to whom the loan was transferred after the complaint was filed) keeps communicating with me.

[tobee43]

grab the deed in lieu if you can get it and close the door!!!!!

[drowning123]

True, tobee, but I don't mind staying a little while and saving some money.

[tobee43]

True, tobee, but I don't mind staying a little while and saving some money.

absolutley!! and, as slow as things have been going in nj, hopefully it's the same in ny. our house isn't even anywhere, other than NO where in the process it's now 3 years what 8-9 months???? wow.

[drowning123]

Regarding your house, wow! Please keep us posted. I believe you're heading for a record.

[Pandora]

Aurora keeps mailing me with offers for short sale, deed in lieu and loan modification. They claim "they're attempting to collect a debt." I know it's not a big deal....

Actually it IS a big deal if you've been discharged from your CH. 7 and included them in it. That's a direct violation..and I'd light their backsides up...

[HomeNow2]

Hmmmm, I included our home with BankUnited in the BK, did NOT reaffirm, discharged 6/1/11. We are now hearing from them that we are 3 months behind and all sorts of stuff. Our goal is to stay as long as possible as well (In Illinois). So, are they in direct violation?

Also, how long after the BK could we consider another mortgage? Will our name still be on the title and the foreclosure will drag this out longer????

Thanks for the insight!

[tobee43]

Actually it IS a big deal if you've been discharged from your CH. 7 and included them in it. That's a direct violation..and I'd light their backsides up...

pandora, you're right about them attempting to "collect" a debt. but ya know, i would, if i could, in it's stead of a forclosure process, opt to get a deed in lieu and a contract of release and get my name off the deed.

funny thing was chase did in fact contact us, but said...CLEARLY , this is NOT an attempt to collect a debt as we know you surrendered the house and it was listed on the bk, however they wanted to know if i wanted to do a loan mod...right..like what is it about the word surrendered you don't get??? also we had been out of the house for at least 2 years when they finally approached us. unreal.

[Pandora]

tobee

I hear ya - but the problem is that many lenders are not willing to do a DIL any longer given the market is so saturated. Problem is that there is nothing to make the lender change the deed immediately in the laws. To me, if you give up your house in a BK proceeding and/or its gets foreclosed upon - there should be a mandatory set timeframe (like no more than 3 months) that the lender must change the deed by. THATS the problem people are facing today; while the debtor is held accountable and captive for 10 years due to filing BK / foreclosure - the lenders get off scot free with doing as they please until they feel like acting upon it.

The system is broken and needs to be changed somehow. Just like another post I read re: the trustee coming back after 7 years and wanting the $ from a lawsuit. C'mon.. 7 years after discharge?! Insane - regardless if disclosed or not, there should be a 1 year timeframe for discoveries to occur, after that - they're S.O.L.

[tobee43]

tobee

I hear ya - but the problem is that many lenders are not willing to do a DIL any longer given the market is so saturated. Problem is that there is nothing to make the lender change the deed immediately in the laws. To me, if you give up your house in a BK proceeding and/or its gets foreclosed upon - there should be a mandatory set timeframe (like no more than 3 months) that the lender must change the deed by. THATS the problem people are facing today; while the debtor is held accountable and captive for 10 years due to filing BK / foreclosure - the lenders get off scot free with doing as they please until they feel like acting upon it.

The system is broken and needs to be changed somehow. Just like another post I read re: the trustee coming back after 7 years and wanting the $ from a lawsuit. C'mon.. 7 years after discharge?! Insane - regardless if disclosed or not, there should be a 1 year timeframe for discoveries to occur, after that - they're S.O.L.

you're SO correct. in new jersey the statue of limitation for the bank to change over the deed is 20 YEARS!!!!!! we had one property that we were able to do a deed in lieu, however in the contract release they had to provide the date and follow with proof of the deed change prior to us accepting the "deal". unfortunately, that was on a secondary property, and we are still sitting around like most others awaiting our OLD primary property to either foreclose, sell, or whatever. actually, and honestly, we just don't care anymore. especially, in light of this current court decision...re: exactly what a debtor is responsible for AFTER a bk discharge on a foreclosed home:

Clay Daniel Burch, Chapter 7, Debtor.Clay Daniel Burch, Plaintiff,v.Bank of America, N.A., D (LOVE THIS!!)

http://www.bkforum.com/showthread.php?72403-New-Case-Law-RE-Burch-A-Good-Read-for-those-in-Chapter-7&p=534161#post534161

i didn't hear about a trustee being able to go after a no asset case after 7 years!!!!!! that is the scarest ever. it's like you never get out of their clutches, ever.

[Miknan]

I'm including my house in BK. Have 341 on Monday. I wish my bank would call me to remodify. There are very, very few places to rent right now.

[Stilltheone]

I also have aurora, mine was transferred to aurora bank recently. I am ALMOST 60 days past due, but always make a payment every 30 days. Are they going to foreclose on me since it was transferred to aurora bank?

[drowning123]

I also have aurora, mine was transferred to aurora bank recently. I am ALMOST 60 days past due, but always make a payment every 30 days. Are they going to foreclose on me since it was transferred to aurora bank?

No, they won't. Sorry for the extremely late reply. LOL.