To make a long story short for over a year i had been working with GMAC Financial / Homecomings Financial trying to get a home modification, I submitted the entire packet for different time, and faxed updated financial information as they requested. At one point we entered into a 6 month mortgage repayment contract at which time a modification figure for the loan would be presented. The figure presented was $480.00 higher than my old payment of 780.00.1260.00 It reflected income presented before I was laid off. I purchased the home for 230,000.00 with 24,000 down it is now worth less than 60,000.00 it is 1040 sq feet with no furnace or air conditioning. On the sixth modification attempt they were still requesting updated income records, I then told them I was just Laid off and asked for short sell info. They said they would have someone in that department call me, I waited a week no call so I called back and told them that there was a bid for my house already submitted and i need the short sale paperwork, they then informed me it was too last and my house was sold in a default sale and gave me an atterneys number I called he said I was too and gave me to a REL dept. They gave me a notice for relocation asst. The next day i was served 3 days to vacate notice. While I was still in modification process a bid for my house was submitted yet me or the realtor could not get them to accept a bid at market price. The bidder was buying the property as investment and would has let me rent and not leave now i am being evicted and no one can bid on property but GMAC insiders for less than my investor offerred.
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