Aurora gave me a "Traditional" Modification

[tobee43]

Holy smokes! About 2 months ago I called Aurora to see if I could work something out, since I got to realize that it's hard as heck to rent in my neighborhood. I filled out the necessary paperwork and faxed it in. Lo and behold, today they came back with a 3-month trial, a "traditional" modification, as opposed to a HAMP. The good thing is NOW they finally wrapped up my insurance and taxes in this payment. I used to pay $1927, excluding taxes and insurance. My tax and insurance were probably an extra $400, so that was a total of $2327. Now they offered me $1,570, including taxes and insurance. Go figure! They also realized that no one is buying in my 'hood. My neighbor's house has been on the market for at least a year and a half, and nothing. She's reduced it from $191,000 to $158,000, and still nothing. I don't even have to start paying until August 1. I can't rent anywhere in my 'hood for $1,570. I'm takin' the offer.

WOWWWWWWW!!! sorry i'm so behind with my reponses..

congrats girl friend!!!!!!!!!!! i can't believe you got a loan mod...a REAL one!!!!! also hope everything is going good for you

[IamIrene]

Just out of curiosity...did that modification stick after you were (presumably) sold off to Nationstar or Selene Finance?

I sincerely hope so. I've gotten reports that a lot of those modifications fell through after the new company took over the servicing rights.

[drowning123]

Hi Tobee!

[drowning123]

Irene, it stuck. Also, I am a BK customer, and I do have online access to my account. I don't know how that happened. I didn't ask. My payments do get applied. I don't mind an escrow account. Nationstar just paid my homeowners' insurance from my escrow. I'm sure they'll pay my taxes, too. I did get a 2-month grace period for my first payment. I like making just one mortgage payment for everything and not worry about different checks here and there throughout the year. Now, the real proof is in making the modification permanent, but so far, so good.

[drowning123]

Update: I got a call from Nationstar today. They wanted to thank me for keeping up my payments and they'll be mailing me the permanent papers after my third payment is received. I have an assigned representative who is handling my account. He gave me his first name only, of course, and his extension. He didn't even badger me for my next payment. I'll keep you posted.

[tobee43]

Hi Tobee!

hey drowning it's great to C u! that's really great news about your mortgage!

[drowning123]

Update: Got the final modification papers and signed and sent them back yesterday. I'm starting out with 2.50% for 5 years, then 3.25% thereafter until the house is paid off or until I drop dead, whichever comes first. I think the latter will happen first. LOL. Yay!!!