GMAC has been absolutely useless in helping its customers avoid foreclosure! Banks and other institutions were paid BILLIONS of DOLLARS to help people keep their homes. WHAT is GMAC doing with its share of the cash? My husband and I are both disabled seniors, and we live on a VERY limited income. We have NO savings, NO retirement funds - we don't even have CEMETERY PLOTS! The ONLY thing we have (besides one another and our children and grandchildren) is OUR HOME! We both worked VERY hard throughout our lives. Now, in our GOLDEN YEARS, instead of FINALLY being able to sit back and relax, we WORRY NIGHT and DAY about being HOMELESS! We were SO excited when we heard of the loan modification program - we thought it was the ANSWER to OUR PRAYERS! After filling out numerous forms and making copies of EVERYTHING (and I mean EVERYTHING!), we mailed in our application and waited to hear the GOOD NEWS! You can imagine our UTTER DISAPPOINTMENT when GMAC turned us down! Although we have more than $100,000.00 in equity in our home, GMAC offered us a "DEED" DEAL - we hand over the deed to our beloved home to GMAC and they will KINDLY forget about our mortgage!!
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