aurora loan services: Report: Short Sales and Your Credit Score - 01/26/10 06:45 PM
Curious what will happen to your credit score after a short sale?
The answer is… it depends. How many mortgage payments did you miss? How much debt do you have? What is your outstanding balance to available credit ratio? What is your overall payment history? Your “point” impact will be calculated by FICO based on these and several other criteria. Here is an actual example of how a short sale affected my Destin short sale seller’s credit score.
Property: Destin short sale condo – investment property (not owner occupied)
Lender: Aurora Loan Services
Number … (17 comments)
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aurora loan services: Aurora Loan Services Approves Destin FL Short Sale in 26 Days! - 04/16/09 05:40 PM
Compared to my last 5 month drama with Aurora Loan Services, this was a dream Short Sale approval!
Subject: 2047 SF Home in Paradise Retreat, Destin Florida
Mortgage: Aurora Loan Services - $400,000
Fair Market Value: $217,000
Amount Forgiven: $183,000
Timeline: 26 Days from Fax to Approval
Key to Success: Strong contract, reasonable closing costs, committed buyers, complete and thorough package
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
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Destin and Fort Walton Beach Short Sales & Pre Foreclosure Help.
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Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 … (29 comments)
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aurora loan services: 3 Short Sale Approvals - The Key to Each - 09/21/08 12:12 PM
I've received 3 Short Sales approvals on the Emerald Coast of Florida in past seven days. Here is the summary and the "key" to each approval, presented as "Problem" and "Solution".
Case #1
Destin FL condo
First Mortgage: Countrywide
Second Mortgage: DCS (MI company who bought Countrywide's second)
Problem: Countrywide thinks value is $285,000, offer is $265,000
Solution: Listing agent provides market narrative and market analysis proving the offer is good and "lucky"
Case #2
Niceville FL house
Mortgage: Aurora Loan Services - with Mortgage Insurance
Problem: MI company BPO agent uses incorrect square footage, overvaluing house
Solution: Listing agent catches error … (6 comments)
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aurora loan services: Aurora Loan Services: Short Sale Warning - 02/22/08 04:40 PM
I have had a Short Sale offer in process with Aurora Loan Services since December.
Facts:
The house, in Niceville Florida, was listed for $183,000.
Offer was for $175,900. VA financing with seller total contribution of $3000 including doc stamps on the deed, a customary seller expense in Florida. Thus, the seller contribution to buyer's closing was only about $1700.
BPO price $185,000.
Aurora counters $185,000. Buyers stay firm at $175,900.
30 days later- today- Aurora says sale is "approved".
Receive approval letter. Aurora will pay $363 of the total closing costs, excluding a reduced broker fee.
I call Aurora. "VA will not ALLOW VA … (38 comments)
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