- The Fransen & Molinaro Law Firm (888) 756-2652 California Lawyers
| |||||||
| Register | FAQ | Members List | Calendar | Search | Today's Posts | Mark Forums Read |
| Stop Foreclosure and Tell Us Your Story Trying to stop foreclosure alone can be a painful and a depressing process. This section is where you can unite with other homeowners and let out your questions, frustrations and post your whole story. The more we know, the more we can help you stop foreclosure. No one will be judged or criticized for posting their story. |
This is a discussion on My GMAC mortgage sold to Midland within the Stop Foreclosure and Tell Us Your Story forums, part of the Real Homeowner Stories of Real People Trying to Stop Foreclosure and Get a Loan Modification category; I sent in a request for help to GMAC about 50 days ago. After many phone calls and them telling ...
 |
| | LinkBack | Thread Tools | Display Modes |
11-23-2008, 05:12 PM
| |||
| |||
| My GMAC mortgage sold to Midland I sent in a request for help to GMAC about 50 days ago. After many phone calls and them telling me I was denied on the last call they said I would get a letter in the mail on why I was denied. It has been about 2 weeks since then and no letter of explanation. Yesterday I received a notice from GMAC that my mortgage has been sold to Midland effective Dec 2nd. My first mortgage is through GMAC and my second is through Homecomings. I have not received any notice on change in my second mortgage but now how do I proceed? I was going to send in a QWR on Monday to see where it might get me but now I'm not sure how to proceed. Do I now have to start this process all over with the new company Midland? Any advise is much appreciated. Just a little background is my first mortgage with GMAC (Soon to be Midland) balance is $90,000 at 6.75% and my second mortgage with Homecomings balance is $34,000 at 12.75%. I have lost about 1/3 of my income and have been using credit cards to get by and have come to a point where this can't continue as my credit cards are almost maxed out. I just had one lower my limit on me last week to make matters worse. I guess my hope is to at least get the rate on the second mortgage down but the best outcome would be if they would reduce the principal due which I know is about impossible. I think we could make ends meet if they reduce the rate and I work with my credit card companies to do the same. Thanks for your help.      |
|
11-23-2008, 05:34 PM
| |||
| |||
| re: My GMAC mortgage sold to Midland Does this mean that all of GMAC's and Homecoming's mortgages are going to be Midland? I have a workout being processed right now, is there anyway to know how that will affect me if it is not complete yet? |
|
11-23-2008, 07:04 PM
| ||||
| ||||
| Re: My GMAC mortgage sold to Midland Hi Jharrison199, Welcome to the forum and thank you for joining............ If your loan is being transferred you would need to wait until the loan information gets to Midland........and unfortunately since the modification wasn't approved through GMAC you would need to ask Midland what options the investor on the loan would have. You can also ask Homecomings what options the investor on your second lien has as well. Homecomings 1-800-206-2901 cadent49, Not all GMAC loans are being transferred...................GMAC is still servicing and originating loans
__________________  LoanSafe.org Support Team 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. You should contact your attorney to obtain advice with respect to any particular issue or problem. |
|
« Previous Thread
|
Next Thread »
| Thread Tools | |
| Display Modes | |
Linear Mode
| |
All times are GMT -7. The time now is 03:19 PM.
