Profile picture for meghamann

Mortgage Modification with GMAC

I have been trying to modify my mortgage since January. The first time they said I sent it back not notarzied which was a lie, the second time they said they sent it and I never received it, and now the 3rd one I received and they are asking for $3300 up front. I tried speaking to my lender and explaining to them I can only come up with $1200 but they told me the investor will accept nothing less. Is there anything I can do to keep my house please? I have children and would have no where to go.
  • September 03 2009 - Milwaukee
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Answers (5)

Check out the information on the following sites.  I hope this helps.  If you feel you are being treated unfairly you can file a complaint with the Bank Commissioner for the State of Wisconsin. 

http://makinghomeaffordable.gov/

http://www.hud.gov/offices/hsg/sfh/nsc/faqlm.cfm
  • September 03 2009
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Most times your lender will require a reinstatement or good faith contribution payment. I know Indymac requires 50% of delinquent payments to be paid before they will consider a modification. This is usually the route the banks are taking when you attempt to change the terms of a legal document without an attorney. They have the upper hand when you go it alone.

Look at my profile; I have some useful links that will assist you in your modification- Best of Luck
  • September 03 2009
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It sounds like they are lieing to you all over the place.  What is the $3,300 for?  If they tell you that is the cost of the loan modification, go somewhere else to get it done.  It sounds like they are going to take advantage of you anyway and not give you the best loan modfication out there.  There are plenty of loan modification Attorney's that will do it for you, so i say make a call to find out as we talk to people all the time that are taken advantage of during their loan modification process when they try to do it themselves.  It sure sounds fishy.
  • September 04 2009
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Profile picture for Ken Crotts and Co
We negotiate with lenders on a daily basis and run into this type of problem on a daily basis. To resolve the issue try the following;
1. Keep requesting the notarized document. We often get results by "not hearing" the answer we don't want and continue to be persistant in our requests.
2. If you are dealing with a gate keeper who just reading from the screen they tend to change by the call or by shifts. Call at different times when that person is not working or if they change by call hangup and call back until you get someone who is cooperative.
3. Since there are several levels in the process ask to talk to a supervisor or to have the file elevated to the next level.

Banks give out the wrong information all of the time. Whether the person you are talking to doesn't know, the process is designed that way, or they are flat out lying is irrelevant. Stay focused on your goal, keep calm, never quit. Only the most persistant homeowners succeed, so stay at it.

Good luck! For tips on talking with your lender I have a free report with tips from top negotators at www.KingCountyHomeSolutions.com. That may help.
  • September 04 2009
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I always tell everyone to contact your Attorney General if you have any issues and your congress people.  As this issue is not just singled out to you and your bank, it is across the board with all banks and the only way Americans will be heard is thru their congress people and Attorney General, that is the way to make change!
  • September 04 2009
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