Loan Modification Forum - LoanSafe.org - View Single Post - Another GMAC mortgage....stop paying, or short sell??

Moe Bedard · 11-14-2008, 11:37 AM

The best thing that you can do because the criteria is different with each investor, is to go over the financials with someone at GMAC and ask these questions. You would need to find out if they use gross or net income, and what expenses they look at...........some only allow a certain amount of credit card debt..........so this you would need to check........

11-14-2008, 11:37 AM	#8 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,685	Re: Another GMAC mortgage....stop paying, or short sell?? The best thing that you can do because the criteria is different with each investor, is to go over the financials with someone at GMAC and ask these questions. You would need to find out if they use gross or net income, and what expenses they look at...........some only allow a certain amount of credit card debt..........so this you would need to check........ __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.