Hereís a link to a letter to the President that I wrote as an at-risk homeowner whose HAMP application is being processed by GMAC. It offers a pretty comprehensive account of GMACís rigged application process.
Hereís an excerpt:
Mr. President, you have heard, I am sure, that HAMP information being supplied to hundreds of thousands of HAMP applicants by participating HAMP lenders is seldom accurate. Over the past 14 months, I have found that GMACís inaccuracy on this score is no accident, but deliberate and carefully implemented. It fuels a rigged HAMP application process that GMAC has created in order to draw qualified HAMP applicants into the application process before denying them modifications. To implement this process, GMAC has trained its customer service agents to constantly profess adherence to HAMP guidelines even as agents give HAMP applicants a series of guidelines that are of GMACís own devising. After engaging homeowners in its HAMP application process, GMAC then introduces sets of conflicting guidelines that lead in the end to summary rejections a homeownerís repeated requests for a HAMP modification.
I'd like to hear from fellow HAMP applicants, whether or not your HAMP experience has been similar to mine. I want to know just how accurate or inaccurate my letter to the President is.
I also maintain a HAMP diary at Daily Kos.
Thanks for taking a look and good luck everyone,
Steve Sewall (Civic Sam)