Loans, Debt & Credit - View Single Post - GMAC Loan Needs a Mod

HobieCat · 10-28-2008, 07:27 PM

Hi ***, I received my workout package from GMAC today. I've been reading through a lot threads here and there were discussions about Surplus amount. Is that a surplus amount after you include the first mortgage that you are trying to work out or is that a surplus amount without the mortgage payment?

I also read one of your posts/replies about the H4H Program through GMAC. I read one of the qualifications: The homeowner did not intentionally default, does not have an ownership interest in other residential real estate -

Does this mean I would not be qualified for the Program since I owned a rental house?

10-28-2008, 07:27 PM	#6 (permalink)
HobieCat Senior Member Join Date: Oct 2008 Posts: 44 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Loan Needs a Mod - Not Late Yet Hi ***, I received my workout package from GMAC today. I've been reading through a lot threads here and there were discussions about Surplus amount. Is that a surplus amount after you include the first mortgage that you are trying to work out or is that a surplus amount without the mortgage payment? I also read one of your posts/replies about the H4H Program through GMAC. I read one of the qualifications: The homeowner did not intentionally default, does not have an ownership interest in other residential real estate - Does this mean I would not be qualified for the Program since I owned a rental house?