23 Jul Aurora Resets Mortgage On Surrendered Property
I am holding in my hand a June 2007 letter from Aurora Loan Services informing the chapter 13 trustee that based on an escrow analysis the mortgage payment is resetting to a different amount beginning August 2007. This change is due to a routine annual escrow analysis that was completed on this account, says the letter from the Bankruptcy Department of Aurora Loan Services. I regularly see letters like this, but not on cases where the trustee is not paying the mortgage, or where the debtors surrendered the real estate. In fact, in this case, the court confirmed a plan in December 2006 approving the surrender. Since that time, neither debtors nor trustee paid any money on this loan. Now, Aurora does an escrow analysis and determines a payment change is in order. Hmmm, did Aurora not notice that it has not received a payment in over 6 months? And just what has Aurora Loan Services serviced during this time? And how do they get paid if the money is not coming from our side? Situation normal, or so they say.
Andy Miofsky, Esq.
Latest posts by Andy Miofsky, Esq. (see all)
- Social Security Income: Invisible Money Bankruptcy Cannot Touch. - December 19, 2016
- What can and cannot be included on a credit report? - December 21, 2015
- Use Exemptions to Protect Your Property in Bankruptcy - January 20, 2014
- A profile of the typical person who files bankruptcy - January 13, 2014
- Amended Bankruptcy Rule 1007 changes Form 23 debtor education filing requirement. - January 7, 2014