Loan modification nightmare!!

I have one for you..I contacted GMAC to see if I qualified for a loan modification. I had tried to sell my home prior to buying a new one, but that didn't happen. So to help ease some of the pain of paying 2 mortgages, I had hoped to get my payments reduced to interest only to give me time to sell the house on my own. Mind you, I had not been delinquent on my loan even once in 4 years. 

 

On 8/23 I filled out the info on-line and sent the preliminary paperwork. The only point of contact was on 8/26 when my realtor received an email from Kazork.com regarding a short sale. 

 

I immediately contacted GMAC and told them I didn't want to do a short sale, I was only interested in a remodification. "Andrea" told me I didn't qualify for that. So, I told her - forget the short sale. I no longer wanted to proceed with anything. 

 

End of story? Of course not, this is GMAC we are talking about! My next statement showed GMAC charged my account $105. Unfortunately, when I called them to find out what the fee was they said that I would have to receive a "letter of explanation", because "Paul" didn't know what it was for.  

 

When the letter was received - about a week and half later, it said the charge was for a drive-by "Broker's Price Opinion". Let me tell you this, I live in the boonies - you can't tell me that they were able to schedule a drive-by in the short amount of time prior to my cancellation of this whole process.  

 

Again, end of story? Heck no! I had received a letter on GMAC letterhead again refering to the short sale. This time it had a name and phone number on it so I called them. It wasn't GMAC, it was a guy over at Kazork.com who told me that my house was being sold on their website for several weeks and they finally removed the listing on 8/31. WHAT IF THEY HAD SOLD MY HOUSE! 

 

Two things to remember here, 1) I was never delinquent and 2) no one ever contacted me from GMAC during this whole process. If I hadn't been calling them to find out what the heck they were doing, there is no telling where I would be now. 

 

To finish the story - I have calls into any supervisor who can credit me back the $105 plus the cost of all the aspirin I have had to take in doing business with these people).

Submitted ppw 4times already. 1st, Too little money (Denied!). 2nd Sat there, no one ever founf it in the black hole. 3rd New rep assigned, make too much money. 4th Im in the process and still the run around continues (been almost a year, takes about 3months each time before they return denied). Too little , too much... GMAC is not here to help. I contacted an outside party for help, they think (this is speculation), that bcz im not upside down in my equity, GMAC makes more money if they forcl since im in "pretty good shape", and why help me since its Hardship was loss of income -to which bank expects us to catch up in months or die trying. Either way, bank will make money.

I tried to get a loan modification after I lost my job. Used all my savings to keep up on my house payment. Modification denied. I got a call demanding my Sept payment which was due on the first.....the loan officer Lao #31590 is sitting in the Phillapines telling me if I want to keep my house, I need to make a payment today. Does anyone wonder why the folks in the USA are without work?

I'm 3 months behind and gmac won't modify my mortgage they call pre-foreclosure I pay regular payment each month but don't have the money to catch it up. I was in between jobs and got behind. I'm back working now but just want too roll past due back in refinance/modify whatever at lower rate I'm at 8.2 now. Help!

What a lot of homeowners don't realize is that their lender is not in the business to help them. (i.e. by granting a loan modification they lose money - hence, they will do everything they can to deny a homeowner, even if they qualify.) This is why many homeowners are unable to obtain the modifications on their own and end up needing to get outside help. At NMHC, we have helped hundreds of homeowners get their mortgage modifications; some as low as 2 and 3%. To see if you qualify, please feel free to contact us at 1-800-445-6365.

We may be able to help. We currently have lawsuits going against the 6 largest lenders in the US. BofA, Chase, Wells Fargo, One West, GMAC & Citi. We have filed mass joiner lawsuits against them all. And just like with big tobacco the government is going to give the banks a free pass, and make them To Big To Sue! So if you want to keep your home you'd better move quickly, because in most instances this is your only option! For questions and additional information call Cory 866-781-0725

Just lost my home of 23 years on January 20, 2011 to GMAC. They put us through *** and stole our home. Something needs to be done about this fraudulant company.

We are piloting a new website, Your Bank Did What.com, a community portal focusing on all aspects of the current mortgage banking crisis. We are currently looking for mortgage bank experiences that are compelling and informative to our goals. We would like to include it on our site and FREE legal advice maybe offered. Also, if you know of others who might be interested in submitting their stories, please forward this email to them.  

 

We invite you to send your story to: 

 

 

Moderator/Web Content* 

(*I too have been trying to get a loan mod for 3 years) 

Your Bank Did What.com 

Los Angeles, CA 90045

GMAC are crooks, I have been dealingwith them for 4 months and they keep asking for the same paper work over and over and over again, well they can have the dam house and stick it where the toiletpaper goes, immoving on and screw them with their scamming tactics, omeone needs to do something about them. By the way my home will have to be one of them all over the world empty because GMAC screwed me.Where is congress when u need them?

i have had no luck with gmac . i tried for the loan modifacation and they said we were denied over the phone with out any paper work is this legal?