Sunday, January 10, 2010

"Winning" the trial, losing your home

Click on title above to read how the Big Bank$ters are stalling on implementing the loan modification process and why;


  1. Happy New Year -- But Not to You, Aurora Loan Services

    Happy New Year. Wish me a happy anniversary, too. I'm celebrating the first anniversary of my effort to modify my mortgage through Aurora Loan Services.

    You are going to see a lot of this post in the near future, because I'm going to cross-post it everywhere until I find someone who knows someone in Aurora Loan Services or its regulator. I've never wanted to bring a company down before, but I do now.

    I wasn't quite angry enough until last week, when I read an article in the Times that made me realize I was not an isolated case, but an example of a widespread and apparently deliberate policy on the part of this particular servicer to deny homeowners programs the government has sought to extend, even though failing to extend these programs helps no one but Aurora itself.

  2. One way to attempt to overcome this difficulty is to combine a request for a HAMP mortgage modification with a chapter 13 bankruptcy filing.

  3. WE THE PEOPLE (Have Had Enough)

    Wall Street may effectively own Washington DC and the politicians but they do not own us.



    WE THE PEOPLE have the freedom to associate - or not.

    WE THE PEOPLE have the right to demand legal tender in payment of debts owed us.

    WE THE PEOPLE have the right to demand that these institutions eat their own cooking on each and every one of the loans they securitized and peddled during these years without fair and full disclosure to the buyers that these loans were rife with fraud.

    WE THE PEOPLE have the right - and the ability - to take personal, lawful action with specific, lawful political and business-oriented goals, including permanent structural changes that will end "too big to fail" and "rip off the consumer on demand" policies, including the full reinstatement of Glass-Steagall which will END financial speculation and dealing in all of its forms by firms that have access to Federal Reserve credit and/or any sort of public backstop.

    Make this message - this post - viral. Send it to your associates. Send it to the media. Send it to politicians. Get involved and do it now.

  4. JPMorgan on Modifications

    Most completed modifications are bank programs, and not HAMP. It is worth remembering that HAMP is just a subset of all the programs

    Dimon apparently isn't aware of any momentum for a macro principal reduction program

    Gov't mortgage plan aids 7 percent of borrowers
    Obama mortgage plan provides assistance to 7 percent of borrowers who signed up last year

  5. Aurora is not by any means the only financial institution "stalling" or blocking HO Loan Modifications. Seems every institution is doing it, particularly if there is equity in the home they much rather forclose on those in hopes of what else (reaping the profit)

    Here is a link to my private war w/ $hiti-Financial Mortgage in attempts to save our own (one and only) home;