GMAC Mortgage’s numbers for the Making Home Affordable home loan mortgage modification program through December 2009 were reported last week and GMAC Mortgage’s numbers showed they had an increase in both permanent and trial home loan modifications made from November data.
The number of permanent home loan mortgage modifications made in the Making Home Affordable Program through November showed GMAC Mortgage had made 7,111 modifications permanent for homeowners. New data shows that, in December, GMAC Mortgage has made 9,872 permanent home loan mortgage modifications in the Making Home Affordable loan modification program.
GMAC Mortgage’s active trial modifications, last November, showed GMAC Mortgage had 19,559 trials in progress, but the numbers for December were up to 20,672 active trial modifications in the home loan modification program.
As with most lenders, the GMAC Mortgage homeowners who potentially qualify for a mortgage modification in the Making Home Affordable Program rose in December. The increase in eligible homeowners rose to 69,281, and the percentage of homeowners helped by GMAC Mortgage through trial or permanent home loan modifications increased from 39% total to 44%.
GMAC Mortgage had helped a great deal of their customers in the Making Home Affordable Program, and are closing in on almost half of those who potentially qualify for a home loan modification being put into either a trial or permanent mortgage modification program.
Obviously, not everyone in the home loan modification program is going to meet the requirements set by the Making Home Affordable Program, but when a lender is getting close to helping one out of every two homeowners, that can be said to be good news for the modification program at GMAC Mortgage.
