GMAC Mortgage SUCCESS!! - Page 2 - Loan Modification Forum

RudyJay · 06-20-2008, 04:55 PM

DB
My docs did make it here today by fedex but it I was on the phone earlier with the notary.. we rescheduled signing for tomorrow but the docs are here today. It occurred to me.. that I did call the loss mit # about the 13th to ask about when the docs were to come.. well the loss mit rep did give a heads up about when to expect the docs.. maybe you could call Tues or Wed to find out if they were sent.. and explain why.. rj

DaveandBrandy · 06-24-2008, 11:58 AM

I spoke with the loss mit dept yesterday, I was really concerned because my rep's extension was not working. Well, I guess that their offices are in Iowa and they have suffered a lot of damage due to the flooding. My paperwork is now going to come out of another office and they are hoping to have it to me by the end of the week. One good thing is that they found money in my account and now I don't have to pay anything on July 1st, just the new payment on August 1st. (

I wonder if I have any other hidden money) j/k

I was wondering, if I should see if I could get my rate lowered on our second. It is also through GMAC and is fixed at 7.625 for 15 years. I figured that it doesn't hurt to ask, right? If I do this shoudl I wait until I receive my paperwork for the first modification? I don't want to mess anything up!

Tom H · 06-24-2008, 03:52 PM

I was shakin in my boots also, but I finally talked to my negotiator today as well and still have a verbal everything's a go - but paperwork is on the way. Were it me, I'd get this one wrapped up and in the bag (so to speak) and then start immediately with the other. A bird in the hand is worth two in the bush.

Just my take.

Best of luck!

Tom

RudyJay · 06-24-2008, 04:20 PM

DaveandBrandy

Quote:
I hope that your appointment goes well! So, it took about 10 days for the whole process. I am leaving for work on the the 27th and will be out of town for a week, so hopefully we work past that!

Will you get your docs before you have to go to work? rj

DaveandBrandy · 06-25-2008, 09:40 AM

RJ,

The rep that I spoke with said that hopefully they will be there by the end of the week. Well, hopefully probably won't happen. They did say that there is not a time frame that they have to be returned in.

I work for the major motorsports industry and now that the season is getting closer to the end it is busier!

surreal4me2 · 06-25-2008, 10:30 AM

Congratulation! I was wondering how you were doing....with the recent news of how poorly the housing market is performing, I believe you could probably get your second reduced by as much as 2 points, especially since GMAC holds the note.

Anywho! Congratulations and much success in the future!

Peace and Blessings

Another American Who Fought For Her Home and Won!

RudyJay · 06-25-2008, 10:38 AM

Well ..at least your downpayment is "found" and can be used. If GMAC uses the same service for the notary.. the # is 1-800-969-7779 (Nations Direct). Seems they are the coordinators for notary services for some of the industry... The phone # was given to me by loss mit .. Homecomings-loss mit..but the GMAC address/Homecomings are the same. Anyway I used the above phone# so they would use my cell. But if there is no "must do date" it is good to go... Good Luck you guys..rj

RudyJay · 06-25-2008, 10:40 AM

Surreal

You have no idea how your info helped me... My 2nd (Homecomings) lowered 2.75%..Thanx rj

surreal4me2 · 06-25-2008, 11:32 AM

Great!

Okay, please share with me what your rates are...the first is at ___% and the second is at 2.75% Wow! Fantastic! God Bless you and your entire family...you see prayer, belief in self and Standing with the help of LoanSafe.org and all of its faithful Believers has seen you through the fear.

Peace and Blessings

Surreal4me2

RudyJay · 06-25-2008, 03:39 PM

Surreal

Sorry.my previous post was incorrect i forgot some words.. . my 2nd is with Homecomings.. went from 8.75% to 6%.. My first was with Chase..rj

DaveandBrandy · 07-15-2008, 09:53 AM

We received our paperwork via Fed Ex, have the notary coming over tonight, so now we are a SUCCESS!!
Thank you for all of the info, this website was a BLESSING!

Brandy

Moe Bedard · 07-15-2008, 10:30 AM

Brandy,

Congratulations!!!

You did it!!!

Way to Go!!

RudyJay · 07-15-2008, 10:35 AM

WOW BRANDY WAY TO GET THE JOB DONE....WHOOHOOO rj

surreal4me2 · 07-15-2008, 12:09 PM

HEY EVERYONE!

GMAC is working things out for all that have their loans serviced by them and/or Homecomings and the like and, with the recent FreddieMac and FannieMae news, coupled with the failure of Bear Stearns and now Indy Mac Bank being taken over by the FDIC, guys I am telling all of you out there to keep Fighting, Standing and Believing that they do not want your Home...They want a performing loan for their Investors...they want to maintain Good Investor Relations, Liquidity and some measure of profitability. They too realize that they must weather this economic storm and the only way for all of us to survive this Hurricane is to Trust and Believe in God's Power by not fearing the unknown and by stepping out on faith.

PLEASE KEEP STANDING by FAXING and CALLING and then STANDING some more until you save your home!.

You Must Keep Fighting.

WE CAN ALL WIN HERE -- JUST KEEP THE FAITH

Sureal4Me2

Another American Who Fought For Her Home and Won!!!

Moe, ***, Andrew and to all that encouraged me...keep up the good work...we all love and appreciate everything you have done for through this site.

cadent49 · 10-28-2008, 10:06 PM

To those who worked out their modifications, what happened to your credit? Did they remove the negative items / lates?

evs3939 · 10-29-2008, 01:40 PM

I applied and got approved for modification while my credit was and still is good with 740 credit score. I am trying to maintain that credit score. Thank God I was successful in modifying my loan or I would have had missed payments as soon as my neg am would recast and my payments would have been 3X more than my original monthly payments.

surreal4me2 · 11-10-2008, 05:43 PM

Hey, for all of you GMAC Successes, here's the new skinny on the our stories. GMAC is really trying to modify and rewrite as many loans as possible and as quickly as possible. In the financial news, today, it was revealed that ResCap (GMAC) is in such dire straits, that they may not make it through the end of the year as an entity. If anyone is trying to get a modification through, please do it now! If you have an existing modification and did not get your principal written down, go back and ask them to do so FAST. All they can do is say NO and well we all know my motto on the word "NO"...NO means YES. All we have to do is agree on the amount of NO we are willing to accept. My post is urgent because I feel the spirit of GOD moving through this village. I WILL BE WRITING MY please consider writing my principal letter down tonight and I will keep everyone posted on my progress. I Believe and I have been so empowered by all of you here at LoanSafe.org and therefore I Go with God back to GMAC for another Blessing. Everyone please pray for me and Stand with me as I am Standing with you.

Peace and Blessings

Another American Who Fought for Her Home and Won! Praise Be to God!

Tom H · 11-10-2008, 06:04 PM

I admire that attitude, but what if GMAC is only servicing the loan - then I don't see the relation. Is there one? I'm very happy with my mod but really it would be nice to get rid of the PMI I'm paying for protection (for the lender) on lost equity that (well, we all know) doesn't exist. It is kinda frustrating to know that even after the 5-yr interest rate reduction and paying mostly principal on the loan, at the end of five years I'm still upside down by a 100k in today's dollars. There's always the possibility of the market getting better and inflation going through the roof, BUT - I think I'm there with ya.

Can't hurt to ask; right?

Tom

surreal4me2 · 11-10-2008, 06:13 PM

My belief is that if they were able to modify the loan terms, then they are able to rewrite at least a portion of my (your) principal too. Here we go again, believe me you have to give God the Glory and Honor in all things that you do. There is no guarantee that they will be able to do a rewrite, especially since I have a modification in place, but who is to say that they can't either. MY BELIEF IS VERY STRONG and I am going to move on it, NOW....I will keep you posted on my progress so, please continue to life me up in prayer and Stand with me as I will continue to Stand with YOU!!

Peace and Blessings

surreal4me2 · 11-11-2008, 01:44 PM

HELLO EVERYONE,

By now you all have heard the news that CITIGROUP is restructuring mortgages so that homeowners can afford to stay in the homes, long term. They are going to be writing down mortgage principals in massive amounts based on a homeowners actual income (of course you will have to provide proof of your income) and they have also placed a moratorium on foreclosure. Their attempt to stem the blood loss will benefit all of us. To that end, today marks day one of my request for GMAC to consider writing down a portion of my principal in addition to the modification they granted me in May of this year. I will keep everyone posted, please keep me lifted up in Pray and to God Be the Glory! Amen!

Surreal4me2

SoCal 67 · 11-11-2008, 03:25 PM

Lucky you. Been 1 month since I contacted GMAC with my layoff hardship requesting a loan mod and still working with them.

surreal4me2 · 11-11-2008, 03:38 PM

Please don't give up....you must fax, call and fax and stand everyday until you get through this process. HANG IN THERE when you feel the spirit of depression coming over you, tell it to SHUT UP and get behind thee. Believe me, it will flee and the you can write, call and fax and right and call and fax some more.

Peace and Blessings

Surreal4me2

surreal4me2 · 12-03-2008, 03:54 PM

Update

I am now the Blessed and Grateful recipient of a RE-MODIFICATION! GMAC, forgave a small portion of my debt, reworked my original modification to a fixed rate of 3.75%.

Good People, as I have said before NO really means YES. All we have to do is trust, believe and have faith in GOD. NO is a temporary word and until an actual solution can be agreed upon. I am living proof of that fact.

Here's the breakdown...original loan was at 9.225% and adjusting upwards 2% every six months.....made contact in because of the information provided by the Good Folks at LoanSafe.org I was able to make effective contact in May 2008, because of the information sharing encouraged by LoanSafe.org, my loan was modified to a fixed rate of 5% for 40 years.....After praying and monitoring the news with regard to what other servicers were doing for homeowners, I decided to approach GMAC again, only this time I asked them to strongly consider writing my principal mortgage amount down to current market value....I was contacted by a representative who basically told me that I should expect to receive a 99.9999% chance of a “NO” to my request. Shortly, thereafter, actually, within hours, I was contacted again by a loss mitigation representative who advised me to expect to be contacted by an appraiser, and the rest is now history....Appraisal was conducted and confirmed the drastic Decline-In-Value within a 48hr period....next, I received another phone call from the Rep and then a Loss Mitigation Rep asking for a complete financial application. I complied immediately, but then was met with complete silence for 5 days; not a word or acknowledgment from anyone....I decided to travel back up the GMAC food chain to the corporate offices to express my disappointment and, within hours of doing so, I received an apologetic call from both the HOPE and Loss Mitigation representatives....By phone, I was offered an interest rate of 3.75% for the life of the loan pending approval, commencing January 2009....Received Approval on 11/28; received the actual documents 12/2; signed and returned the documents via Federal Express, today.....

So when I tell you all that NO means YES, believe me it is possible.

Praise Be to God

Surreal4me2

Another American Who Fought for Her Home and Won!

RudyJay · 12-03-2008, 04:10 PM

Good Job Surreal.... Way to make it happen.....Happy Holidays to you and your family

surreal4me2 · 12-03-2008, 04:19 PM

RudyJay,

And may the same peace be with you and your entire family, too!

Surreal4me2

06-20-2008, 04:55 PM	#26 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage DB My docs did make it here today by fedex but it I was on the phone earlier with the notary.. we rescheduled signing for tomorrow but the docs are here today. It occurred to me.. that I did call the loss mit # about the 13th to ask about when the docs were to come.. well the loss mit rep did give a heads up about when to expect the docs.. maybe you could call Tues or Wed to find out if they were sent.. and explain why.. rj

06-24-2008, 11:58 AM	#27 (permalink)
DaveandBrandy Senior Member Join Date: May 2008 Posts: 31 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage I spoke with the loss mit dept yesterday, I was really concerned because my rep's extension was not working. Well, I guess that their offices are in Iowa and they have suffered a lot of damage due to the flooding. My paperwork is now going to come out of another office and they are hoping to have it to me by the end of the week. One good thing is that they found money in my account and now I don't have to pay anything on July 1st, just the new payment on August 1st. (I wonder if I have any other hidden money) j/k I was wondering, if I should see if I could get my rate lowered on our second. It is also through GMAC and is fixed at 7.625 for 15 years. I figured that it doesn't hurt to ask, right? If I do this shoudl I wait until I receive my paperwork for the first modification? I don't want to mess anything up!

06-24-2008, 03:52 PM	#28 (permalink)
Tom H Senior Member Join Date: Nov 2007 Location: SoCal Posts: 182 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage I was shakin in my boots also, but I finally talked to my negotiator today as well and still have a verbal everything's a go - but paperwork is on the way. Were it me, I'd get this one wrapped up and in the bag (so to speak) and then start immediately with the other. A bird in the hand is worth two in the bush. Just my take. Best of luck! Tom

06-24-2008, 04:20 PM	#29 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage DaveandBrandy Quote: I hope that your appointment goes well! So, it took about 10 days for the whole process. I am leaving for work on the the 27th and will be out of town for a week, so hopefully we work past that! Will you get your docs before you have to go to work? rj

06-25-2008, 09:40 AM	#30 (permalink)
DaveandBrandy Senior Member Join Date: May 2008 Posts: 31 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage RJ, The rep that I spoke with said that hopefully they will be there by the end of the week. Well, hopefully probably won't happen. They did say that there is not a time frame that they have to be returned in. I work for the major motorsports industry and now that the season is getting closer to the end it is busier!

06-25-2008, 10:30 AM	#31 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage Congratulation! I was wondering how you were doing....with the recent news of how poorly the housing market is performing, I believe you could probably get your second reduced by as much as 2 points, especially since GMAC holds the note. Anywho! Congratulations and much success in the future! Peace and Blessings Another American Who Fought For Her Home and Won!

06-25-2008, 10:38 AM	#32 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage Well ..at least your downpayment is "found" and can be used. If GMAC uses the same service for the notary.. the # is 1-800-969-7779 (Nations Direct). Seems they are the coordinators for notary services for some of the industry... The phone # was given to me by loss mit .. Homecomings-loss mit..but the GMAC address/Homecomings are the same. Anyway I used the above phone# so they would use my cell. But if there is no "must do date" it is good to go... Good Luck you guys..rj

06-25-2008, 10:40 AM	#33 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage Surreal You have no idea how your info helped me... My 2nd (Homecomings) lowered 2.75%..Thanx rj

06-25-2008, 11:32 AM	#34 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage Great! Okay, please share with me what your rates are...the first is at ___% and the second is at 2.75% Wow! Fantastic! God Bless you and your entire family...you see prayer, belief in self and Standing with the help of LoanSafe.org and all of its faithful Believers has seen you through the fear. Peace and Blessings Surreal4me2

06-25-2008, 03:39 PM	#35 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage Surreal Sorry.my previous post was incorrect i forgot some words.. . my 2nd is with Homecomings.. went from 8.75% to 6%.. My first was with Chase..rj

07-15-2008, 09:53 AM	#36 (permalink)
DaveandBrandy Senior Member Join Date: May 2008 Posts: 31 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! We received our paperwork via Fed Ex, have the notary coming over tonight, so now we are a SUCCESS!! Thank you for all of the info, this website was a BLESSING! Brandy

07-15-2008, 10:30 AM	#37 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Brandy, Congratulations!!! You did it!!! Way to Go!! __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer 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. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

07-15-2008, 10:35 AM	#38 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! WOW BRANDY WAY TO GET THE JOB DONE....WHOOHOOO rj

07-15-2008, 12:09 PM	#39 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! HEY EVERYONE! GMAC is working things out for all that have their loans serviced by them and/or Homecomings and the like and, with the recent FreddieMac and FannieMae news, coupled with the failure of Bear Stearns and now Indy Mac Bank being taken over by the FDIC, guys I am telling all of you out there to keep Fighting, Standing and Believing that they do not want your Home...They want a performing loan for their Investors...they want to maintain Good Investor Relations, Liquidity and some measure of profitability. They too realize that they must weather this economic storm and the only way for all of us to survive this Hurricane is to Trust and Believe in God's Power by not fearing the unknown and by stepping out on faith. PLEASE KEEP STANDING by FAXING and CALLING and then STANDING some more until you save your home!. You Must Keep Fighting. WE CAN ALL WIN HERE -- JUST KEEP THE FAITH Sureal4Me2 Another American Who Fought For Her Home and Won!!! Moe, **, Andrew and to all that encouraged me...keep up the good work...we all love and appreciate everything you have done for through this site. Last edited by surreal4me2; 07-15-2008 at 12:13 PM..*

10-28-2008, 10:06 PM	#40 (permalink)
cadent49 Member Join Date: Oct 2008 Posts: 27 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! To those who worked out their modifications, what happened to your credit? Did they remove the negative items / lates?

10-29-2008, 01:40 PM	#41 (permalink)
evs3939 Member Join Date: Feb 2008 Posts: 16 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! I applied and got approved for modification while my credit was and still is good with 740 credit score. I am trying to maintain that credit score. Thank God I was successful in modifying my loan or I would have had missed payments as soon as my neg am would recast and my payments would have been 3X more than my original monthly payments.

11-10-2008, 05:43 PM	#42 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Hey, for all of you GMAC Successes, here's the new skinny on the our stories. GMAC is really trying to modify and rewrite as many loans as possible and as quickly as possible. In the financial news, today, it was revealed that ResCap (GMAC) is in such dire straits, that they may not make it through the end of the year as an entity. If anyone is trying to get a modification through, please do it now! If you have an existing modification and did not get your principal written down, go back and ask them to do so FAST. All they can do is say NO and well we all know my motto on the word "NO"...NO means YES. All we have to do is agree on the amount of NO we are willing to accept. My post is urgent because I feel the spirit of GOD moving through this village. I WILL BE WRITING MY please consider writing my principal letter down tonight and I will keep everyone posted on my progress. I Believe and I have been so empowered by all of you here at LoanSafe.org and therefore I Go with God back to GMAC for another Blessing. Everyone please pray for me and Stand with me as I am Standing with you. Peace and Blessings Another American Who Fought for Her Home and Won! Praise Be to God!

11-10-2008, 06:04 PM	#43 (permalink)
Tom H Senior Member Join Date: Nov 2007 Location: SoCal Posts: 182 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! I admire that attitude, but what if GMAC is only servicing the loan - then I don't see the relation. Is there one? I'm very happy with my mod but really it would be nice to get rid of the PMI I'm paying for protection (for the lender) on lost equity that (well, we all know) doesn't exist. It is kinda frustrating to know that even after the 5-yr interest rate reduction and paying mostly principal on the loan, at the end of five years I'm still upside down by a 100k in today's dollars. There's always the possibility of the market getting better and inflation going through the roof, BUT - I think I'm there with ya. Can't hurt to ask; right? Tom

11-10-2008, 06:13 PM	#44 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! My belief is that if they were able to modify the loan terms, then they are able to rewrite at least a portion of my (your) principal too. Here we go again, believe me you have to give God the Glory and Honor in all things that you do. There is no guarantee that they will be able to do a rewrite, especially since I have a modification in place, but who is to say that they can't either. MY BELIEF IS VERY STRONG and I am going to move on it, NOW....I will keep you posted on my progress so, please continue to life me up in prayer and Stand with me as I will continue to Stand with YOU!! Peace and Blessings

11-11-2008, 01:44 PM	#45 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! HELLO EVERYONE, By now you all have heard the news that CITIGROUP is restructuring mortgages so that homeowners can afford to stay in the homes, long term. They are going to be writing down mortgage principals in massive amounts based on a homeowners actual income (of course you will have to provide proof of your income) and they have also placed a moratorium on foreclosure. Their attempt to stem the blood loss will benefit all of us. To that end, today marks day one of my request for GMAC to consider writing down a portion of my principal in addition to the modification they granted me in May of this year. I will keep everyone posted, please keep me lifted up in Pray and to God Be the Glory! Amen! Surreal4me2

11-11-2008, 03:25 PM	#46 (permalink)
SoCal 67 Senior Member Join Date: Sep 2008 Posts: 54 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Lucky you. Been 1 month since I contacted GMAC with my layoff hardship requesting a loan mod and still working with them.

11-11-2008, 03:38 PM	#47 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Please don't give up....you must fax, call and fax and stand everyday until you get through this process. HANG IN THERE when you feel the spirit of depression coming over you, tell it to SHUT UP and get behind thee. Believe me, it will flee and the you can write, call and fax and right and call and fax some more. Peace and Blessings Surreal4me2

12-03-2008, 03:54 PM	#48 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Update I am now the Blessed and Grateful recipient of a RE-MODIFICATION! GMAC, forgave a small portion of my debt, reworked my original modification to a fixed rate of 3.75%. Good People, as I have said before NO really means YES. All we have to do is trust, believe and have faith in GOD. NO is a temporary word and until an actual solution can be agreed upon. I am living proof of that fact. Here's the breakdown...original loan was at 9.225% and adjusting upwards 2% every six months.....made contact in because of the information provided by the Good Folks at LoanSafe.org I was able to make effective contact in May 2008, because of the information sharing encouraged by LoanSafe.org, my loan was modified to a fixed rate of 5% for 40 years.....After praying and monitoring the news with regard to what other servicers were doing for homeowners, I decided to approach GMAC again, only this time I asked them to strongly consider writing my principal mortgage amount down to current market value....I was contacted by a representative who basically told me that I should expect to receive a 99.9999% chance of a “NO” to my request. Shortly, thereafter, actually, within hours, I was contacted again by a loss mitigation representative who advised me to expect to be contacted by an appraiser, and the rest is now history....Appraisal was conducted and confirmed the drastic Decline-In-Value within a 48hr period....next, I received another phone call from the Rep and then a Loss Mitigation Rep asking for a complete financial application. I complied immediately, but then was met with complete silence for 5 days; not a word or acknowledgment from anyone....I decided to travel back up the GMAC food chain to the corporate offices to express my disappointment and, within hours of doing so, I received an apologetic call from both the HOPE and Loss Mitigation representatives....By phone, I was offered an interest rate of 3.75% for the life of the loan pending approval, commencing January 2009....Received Approval on 11/28; received the actual documents 12/2; signed and returned the documents via Federal Express, today..... So when I tell you all that NO means YES, believe me it is possible. Praise Be to God Surreal4me2 Another American Who Fought for Her Home and Won!

12-03-2008, 04:10 PM	#49 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! Good Job Surreal.... Way to make it happen.....Happy Holidays to you and your family

12-03-2008, 04:19 PM	#50 (permalink)
surreal4me2 Senior Member Join Date: Mar 2008 Location: Los Angeles Posts: 90 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: GMAC Mortgage SUCCESS!! RudyJay, And may the same peace be with you and your entire family, too! Surreal4me2

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