Homeowners with GMAC Mortgage have had similar troubles as many homeowners who are banking with other top lenders in the Making Home Affordable Program. Countless homeowners have been seeking a home loan modification from a variety of mortgage servicers within this program and, as a result, some have found the aid they needed in order to make their home loan payments more affordable.
However, homeowners with GMAC Mortgage had been denied a home loan modification, in some cases, and as a result have been in need of alternative assistance plans to make their home loan payments easier to meet. While there have been troubles between lenders and homeowners, alternative mortgage assistance plans have been made available to homeowners that did not obtain a traditional mortgage modification through GMAC Mortgage.
According to the June 2010 report from the Making Home Affordable Program, numbers through May 2010 indicate that a total of 29,963 homeowners who were either denied a trial modification or had their trial modification canceled received an alternative modification plan. This has been beneficial for some homeowners as lenders in the Making Home Affordable Program cite the fact that homeowners are there filing improper documentation, not making their payments during their trial period, or simply do not qualify for a home loan modification from the Obama Administration’s program.
While there are still disagreements between lenders and mortgage servicers, homeowners are still being asked to talk to their home loan lender primarily when they have mortgage trouble. Typically, homeowners who address home loan troubles early may have a better opportunity at finding assistance, but this has not been true of all cases. Despite the fact that GMAC mortgage has made a total of 27,505 permanent home loan modifications as of June 2010, homeowners still think more should be done.
Homeowners, again, can talk over mortgage assistance options with their lender but there are also outside resources like the Making Home Affordable Program website or call center that may be able to address certain concerns, questions, or complaints. While not all homeowners will be able to find the mortgage assistance they need to keep their home, there are more options available to homeowners who are having difficulty making their mortgage payments and may be unable to use the Obama Making Home Affordable Program to ease their home loan troubles.