I did not choose GMAC Mortgage as my home loan / mortgage company, I was stuck with them. Last I knew my home loan was with Homecomings of GMAC Mortgage. I only knew the name changed when I recieved my mortgage bill. Hmmmm... Why do they keep changing the name... Retoricle question.
I am trying to have my home loan modified yet I was refused due to insufficiant funds. Is that not the point of applying for a lower interest rate. When I called to talk to "Bobby", as if a first name makes it all softer, I told him that my job and income changed. I am making more money now than when I first applied. He asked if there was any other income, which there is but he told me they would not consider that income as it is only temporary. Goes to show that a teaching job means nothing.
GMAC wants me to short sell my home. I don't understand why. I have not missed a payment. Despite my income and struggles I manage to pay all of my bills on time. My only fear is not having the extra cash if there is an emergency, like replacing something in my home if it breaks down. GMAC thinks that even if they modify my loan I will stop being able to make my payments down the line and loose my home anyway. Must be that crystal ball on their desks that gives them insight.
All I am askig of GMAC is to work with me, lower the interest rate so I can continue to pay my mortgage. They don't seem to want my money. No, they want less than what I owe, they want me to loose all that I have invested and to own an under valued home out in the woods of rural Maine next to the other dozen homes and properties not selling. Good luck with that.
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