GMAC 1st Citi 2nd, Please help!!!

[ml783]

Hello to everyone, I've been reading up since yesterday and through the night and decided to see if anyone can possibly point me in the right direction.
We live in IL, we bought our condo in 2006 and it's an 80/20 financing. The 2 signers on the loan and me and my brother, but he never lived here, my parents and I always paid and lived in the home. Long story short, parents lost their jobs and now we cannot make payments just on my income alone. I spoke with Citi after missing 2 payments and they prequalified me over the phone for a modification for 2% life of the loan, but then someone called back and said that it's not life of the loan, but only 5 years. I have yet to deal with them, still waiting for paperwork.
1st mortgage is with GMAC, 6.5% fixed we pay $1182 with excrowed taxes. Second mortgage payment is at 10.19% and we pay $306.72 on top of that there is a $364 assesment. With my gross being $2666.66 I cannot afford to pay this myself, but if modified just on my income alone, I think they should approve me. They denied me once, but that was because I listed ALL of the expenses, some I don't even pay for. So now, I am trying to re-organize everything and see which scenario will yeild the right results. I found a post with all GMAC contacts and will hang on to that to try dealing with the right department. Please let me know if I am setting my self up for failure or not. I also noticed that a lot of people are talking about thier success, but no one mentions who exactly they called, email, sent letters to and what kind of figures they listed on their worksheets. I think that it would be very helpful if people shared that info so the rest of us know what we are possibly doing wrong. Thank you all in advance for your help, I hope I can be one of those success stories posted here!!!

[ml783]

UPDATE,

I just wanted to say, I just called my second lien holder, Citi and confirmed with them over the phone that I am approved for HAMP modification which reduced my rate to 2% for the life of the loan and makes my payments $138.23 I'm excited, but somehow find it hard to believe since GMAC is giving me the run around.

[crh21]

how long did it take you to get approved for hamp? Any suggestions for me as to how to also get approved?

[ml783]

I wish I knew what to say. For my second loan, I didn't even expect to get approved. I'm still fighting my big mortgage. Just look at your expenses and your income and try to cut down until your total DTI shows 55% or less after the payment is modified.
Your total modified payment should be 31% of your income. Write everything down and see what you come up with. My first post has an excel sheet attached with my example, feel free to use it.