Loans, Debt & Credit - View Single Post

jack057 · 09-27-2009, 08:06 PM

Well i went to the NACA tour here in LA and seemed to get a bit further than i did when i tried the loan mod process on my own, i was denied twice by GMAC before and now while at the NACA event I was given a foreclosure forberance agreement while GMAC sent the info over to Freddie Mac and see if they can do the terms Naca has on their budget plan.

I know this is not the loan mod itself but i was wondering is this the normal process??

I had my payment lowered 300 dollars to comply with the obama plan....
the 3 payment process starts November 1st. I noticed this will effect my credit, but hey thats something I'm willing to sacrifice to have an affordable mortgage...

09-27-2009, 08:06 PM	#1 (permalink)
jack057 Member Join Date: Aug 2009 Posts: 16 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	GMAC Loan mod Process Well i went to the NACA tour here in LA and seemed to get a bit further than i did when i tried the loan mod process on my own, i was denied twice by GMAC before and now while at the NACA event I was given a foreclosure forberance agreement while GMAC sent the info over to Freddie Mac and see if they can do the terms Naca has on their budget plan. I know this is not the loan mod itself but i was wondering is this the normal process?? I had my payment lowered 300 dollars to comply with the obama plan.... the 3 payment process starts November 1st. I noticed this will effect my credit, but hey thats something I'm willing to sacrifice to have an affordable mortgage...