There is no fighting this conglomerate. I have searched the Johnson County Court Records for actions involving GMAC mortgage, hoping to find a defendant's attorney who was willing to take up the fight. Out of 125 foreclosures initiated by GMAC, not one attorney represented the defendant.
The mortgage was in my mother's name, a 76-year-old woman who was hoping to bring my father home from a nursing facility in his final days of Alzheimer's. She had to forfeit their home of 40 years in order to gain Medicaid assistance for my father care in the nursing facility. Still, she paid $3500 of the $4000 monthly bill out of his pension and social security earnings.
My father died in January and there was a delay in life insurance proceeds, reconfiguring social security benefits and pension benefits. An attempt was made to pay the mortgage in January and February, but the credit card check was returned to us.
In April, the company began foreclosure proceedings and we contacted the company to discuss remediation. From April to July, we jumped through hoops to renegotiate the loan. They were made aware of the mitigating circumstances, and we provided proof of income, death certificates, etc.
GMAC blew off all communication with promises of returning calls and FedEx contracts scheduled to come at any time. "Jodi" was the alleged auditor, yet we were never allowed to speak with her.
Deluged with mailings, we opted for a company out of California to negotiate the loan with a "guaranteed" resolution. We spent $2000 for their services.
We NEVER received a phone call from GMAC. The house was sold on July 30th, quite literally on the courthouse steps.in the state of Kansas we have 90 days to reclaim the home, refinancing through a different source. Of course, given the state of the market as well as the recent foreclosure, there are no companies willing to loan the $200k necessary enabling us to reclaim the home.
My husband and I live with my mother and were disregarded as financially culpable to assume the loan. We do not have the credit rating necessary to obtain a reasonable loan payment.
It is our opinion that my mother's civil rights were violated; the length of the loan vs her age equals age discrimination. It is her fervent wish to remain in the home in which her husband of 50 years passed from her life.
We have 60 days to find a resolution. This corporation is truly malevolent and operating under the false public assertion that it wants to help people remain in their homes. It is my opinion that GMAC is waiting for the housing market to recover, turning over these recovered properties for substantial profits. A motive to reward their shareholders for 'hanging in there'.
I was an executive assistant to the CEO and CFO ot the world's largest tax preparation firm. The company owned a subprime mortgage organization called Option One, of which they have since divested themselves. I am quite aware of the financial manipulation involed in high stakes finance; the goal of which is to appease the shareholders as well as the corporation's board of directors.
Even with all of this knowledge and effort, we have been unable to overcome GMAC's lobbyists. Public opinon doesn't got very far where mortgage lenders are concerned. Eventually, however, the number of loans that have been in default due to the ARMs are going to force the lenders to make concessions in their loan qualifying measures.indeed the bar for creditworthiness is going to have to be lowered in order to turn any sort of profit.
Right now, we need a good attorney to slay this dragon of iniquity.
0 comments