4 Months Late w/ GMAC and this is what we get

[Pants]

A loan mod proposal, which they would not give us while we were current.

We haven't talked to them in 4 months and out of the blue the Fed ex package arrives.

*Waive all delinquent interest
*Waive all outstanding fees
*Permanently reduce your interest rate
*7.9% to 5% (20)

Unbelievable that they wouldn't do this until we were 4 months late.

If you don't understand already, you have to stop paying your mortgage if you want a modification, period.

[Evan Bedard]

Congratulations on the modification Pants!

Its true it is nearly impossible to get any type of assistance while you are current..

[ScrewedinVA]

That is awesome news! What state are you in?

A loan mod proposal, which they would not give us while we were current.

We haven't talked to them in 4 months and out of the blue the Fed ex package arrives.

*Waive all delinquent interest
*Waive all outstanding fees
*Permanently reduce your interest rate
*7.9% to 5% (20)

Unbelievable that they wouldn't do this until we were 4 months late.

If you don't understand already, you have to stop paying your mortgage if you want a modification, period.

[tmkim]

So did you not apply at all? Then out of no where after 4 months behind they sent you that offer? A little confused here but congrats, man!

[Pants]

That is awesome news! What state are you in?

Tx

So did you not apply at all? Then out of no where after 4 months behind they sent you that offer? A little confused here but congrats, man!

When we were current we applied like 6+ times , sorry no program for you every time.

4 months of no payments and we get a mod offer unsolicited. It's not good enough though.

Do you guys get it now?

Stop paying your mortgage now.

[djdebz]

I have been trying to get a loan mod with GMAC since 9/2008. I received yet another denial through my attorney last month; we have been sending in less on our mortgage payment for the last 4 months and guess what----now they want to try to work this out. I have no idea what the terms will be. I have faxed, emailed, faxed and faxed again the loss mit package I don't know how many times, but am doing it again. I really hope it works this time. I also sent a letter to David Applegate yesterday, and I hope that helps. This has been a very long journey.

[ScrewedinVA]

One last question - was your loan held by fannie/freddie or did a private investor/entity hold the loan?

Thanks!

Tx



When we were current we applied like 6+ times , sorry no program for you every time.

4 months of no payments and we get a mod offer unsolicited. It's not good enough though.

Do you guys get it now?

Stop paying your mortgage now.

[Pants]

You have to stop paying your mortgage to get a modification.

I have been trying to get a loan mod with GMAC since 9/2008. I received yet another denial through my attorney last month; we have been sending in less on our mortgage payment for the last 4 months and guess what----now they want to try to work this out. I have no idea what the terms will be. I have faxed, emailed, faxed and faxed again the loss mit package I don't know how many times, but am doing it again. I really hope it works this time. I also sent a letter to David Applegate yesterday, and I hope that helps. This has been a very long journey.

[Evan Bedard]

I have been trying to get a loan mod with GMAC since 9/2008. I received yet another denial through my attorney last month; we have been sending in less on our mortgage payment for the last 4 months and guess what----now they want to try to work this out. I have no idea what the terms will be. I have faxed, emailed, faxed and faxed again the loss mit package I don't know how many times, but am doing it again. I really hope it works this time. I also sent a letter to David Applegate yesterday, and I hope that helps. This has been a very long journey.

Now that you are not current on your mortgage hopefully now they will be more willing to work with you.

Good luck and please keep us posted on your progress!