Aurora Loan Services Ripoff For P M I Deceptive, ripoff, rude, inconsiderate, liars Littleton, Colorado

We originally financed with a different company, but our mortgage was sold to Aurora Loans. We didn't have any issues, until we attempted to get our PMI removed from our loan. They sent us a letter dated Sept 7, 2007 outlining the steps required to remove the PMI. I immediately ordered the appraisal through E-Appraise IT as was required, payed them $375.00 (although the letter from Aurora stated it would only cost me $85.00). They came out and did the appraisal within 2 days. The PMI was to be removed if my "property value" was 80% loan to value ratio". I cleared that hurdle without an issue. They received my appraisal on the 14th of Sept 2007. Then I received a letter dated Sept 20, 2007, which stated that I did not qualify to the PMI removed from my loan. I argued with them, as I re-read the contracts I signed when first getting my mortgage. I could find not find anywhere where it said that I must be at 72% ratio. Then they told me that because my loan was "2 years old with them", that was their policy, but no where in the letter (which states "the information quoted in this letter is valid 30 days from the date of this letter), did it state that if my loan is with them for 2 years, I could not cancell my PMI unless I reached a 72% ratio. My ratio is 73.5%, so they want me to give them an additional $3900.00 to buy off my PMI. I have never been late, have excellant credit, and have paid extra towards my principle.

My contract clearly states that once I reach an 80% ratio that my PMI would automatically cease. I could understand why it hadn't stopped, which was my initial reason for contacting them. They sent me a letter, which was supposed to be valid for "30 days" which they didn't honor, and then changed their stories 4 times on why I could not cancel my PMI.

They were rude, when I called them. Lied to me over and over and changed the rules as it went on. I feared that once I paid them the $3900 they would then change it and say that because I was 2 years and 5 days with their company, I owed more.
I fear they receive a kick back from the PMI, as they are very desperate to keep it on my loan, which makes absolutely no sense to me. We have excellant credit, have never been late, and have paid more than required.
We have chosen to refinance with another company, and just get rid of Aurora. We figured we would rather pay someone else the higher interest rate, we are going to pay, rather than having to deal with this company any further, and letting them line their pocket at our expense.

Sherry
Calhan, Colorado
U.S.A.