What To Do Now!!

[KeysMom]

Hello, First time posting. Not sure where I should post. Here is our situation. In Feb.08 I contacted our Bank ( 80/20 GMAC / Homecomings 1rst. 2nd. sold to WAMu after closing on the loan) in hopes of modifying our loan. Well, since we had never been late you know the story we were denied. We continued to deplete our savings until we made our final payment Aug.08.After educating myself on this great forum I immediately contacted public relations dept. of Gmac and within days received a call back from an executive level loan servicer (Tracy Zobel). We had her direct line to reach her at any time. I thought this was great I prepared all paper work she asked for. She said everything looked great and just to wait to hear from her. Well in Dec.08 I received a phone call from another loan executive (Rachel Welch) that she would be handling our modification. Same thing I was given a direct number to reach her. She would briefly update us and tell us there was so many changes with programs just be patient and wait. After months of waiting we received the call that the investor had approved the modification and she just needed some updated information. That was in May 09. We never heard from her again I called weekly and left messages. Well Sept.09 we were served with foreclosure papers. I immediately contacted both Tracy & Rachel and of course No return phone call. You know we never asked for principal reduction we only asked that they work with us on the interest rate we realize we owe what we owe. We live in the Florida Keys have our own company and have been greatly affected by this economic crisis as well that is why we contacted them in Feb. 08 when we saw the first signs of trouble. Well we met with a local law firm who came highly recommended from a client and thought we were in good hands. That is turning out to be a whole other issue. They have now advised us we have to contact the bank on our own and continue with the modification as they will not handle this for us (when we signed on with them they stated that was one of the issues they would address if that was the route we chose ** it is in our signed contract) anyway yesterday morning I contacted loss mitigation they showed everything in our file that Tracy & Rachel had done and that the modification was approved (makes no sense) they emailed Rachel and said to call back at the end of the day(they showed no record of the foreclosure being filed).I called back at the end of the day and there was no response from Rachel so the loss mitigation again put me on hold and was able to reach Rachel direct I am now being told that all paper work is null and void due to all the new programs available and will now have to resubmit everything. He again puts me on hold only to come back on the line and ask how much we can pay today to postpone the foreclosure?? I answer nothing!! He again puts me on hold and then says he needs some current income numbers after giving him our current income he again puts me on hold but now comes back to tell me our loan is being sold and that we cannot modify with them we will have to call back in the middle of Oct. to find out who the new note holder is?? I then proceed to act like I know who the current investor( is and how do I contact them he then confirms it is Franklin bank and I cannot contact them as this will not change the loan being sold. My question is how can GMAC/REscap be foreclosing on us when he stated they are only the servicer for Franklin bank?? And how can they sell a note in foreclosure? I am sorry if you thought this would never end and I greatly appreciate any comments or suggestions.