Short Sale Report - Aurora
Short Sale Report
| Avg. Days NOD to NTS | Avg. Days NTS to Auction | Total Avg. Days in Foreclosure | Commissions | Comments |
| n/a | n/a | n/a | tbd | 7 |
NOD=Notice of Default NTS=Notice of Trustee Sale Auction=Trustee Sale
The communication has been relatively good. They appear to be reasonable with their approvals. It appears that you can expect the short sale process to take approximately 10 months to close.
Contact Info:
Phone: 866-517-7976 or 866-272-4749
Loan Servicing: 800-283-7918
Direct link to the required docs and checklist
https://www.myauroraloan.com/HRG/
If you have had an experience with them please add your comments or you can email us at info@foreclosureradar.com.
Comments
Since no one else has posted on Aurora I will try and jog my memory from about 2 years ago when I handled an Aurora short sale. Time to acknowledge was the standard 3-5 days and short sale approval came approximately 11 weeks after a seller accepted offer was submitted for approval. This approval time would probably have been shorter had they not lost parts of the package on at least two occasions. In addition, they don't just want the documents they lost, they want you to re-submit the entire package again. Though the negotiator was generally responsive, at one point I wasn't able to get an update for nearly three weeks, leaving messages m/w/f. When she finally decided to make contact, she didn't call my cell phone, which is the number provided, she called my office, spoke to my broker and told her that she had left a message for me a week prior and that I never returned her call - which is a scenario that never occurred and I'm still a bit confused as to why she did that, perhaps she got her agents mixed up, left a message for me with an agent from another transaction? Who knows. I got chewed out by my broker and well, that was the last transaction I completed with that brokerage. There were no hiccups otherwise and from offer submission to close was approximately 90 days. Commission was 5% and they contributed 3% toward buyers closing costs.
I am currently working a short sale with Aurora and they have been pretty good so far. Very helpful and knowledgeable over the phone. We submitted the package and offer to them and within 3-5 days they had sent a letter to the home owner requesting additional docs. Once they received those additional docs they said everything was good and gave us an estimated approval date of July 5th (about 75 days from initial contact). We'll see if that date holds up, I will update this post after we close.
Did you got their approval by the estimated date of July 5?
I closed a short sale with Aurora in 2009. I was the listing agent and there were 2 different loans and my borrower had defaulted already on a forbearance agreement. The 2nd lien was extremely difficult to negotiate with and was actually sold in the middle of escrow so I had to start over with SLS the new holder of the 2nd. I was determined not to lose the deal and we ended up with a 10% of UPB on the 2nd. Aurora paid part of it and the 2 Agents gave up 1% each to close it.
I closed a short sale with Aurora in 2009. I was the listing agent and there were 2 different loans and my borrower had defaulted already on a forbearance agreement. The 2nd lien was extremely difficult to negotiate with and was actually sold in the middle of escrow so I had to start over with SLS the new holder of the 2nd. I was determined not to lose the deal and we ended up with a 10% of UPB on the 2nd. Aurora paid part of it and the 2 Agents gave up 1% each to close it.
I just closed a short sale with Aurora Aug 9. I heard nothing but bad things about them. I stepped in at the end of the process and replaced the original buyer, and really, it was a seamless transaction. We did, however, use a short sale negotiatior who is probably the best in San Diego. Im sure that helped.
Do you mind telling me who is the short sale negotiator in San Diego? Thanks.
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