GMAC Mortgage Home Loan Modification Program And Mortgage Assistance Alternatives

Homeowners with GMAC Mortgage have been struggling to make their home loan payments as many homeowners across the nation with a variety of lenders, have suffered in their mortgage situation due to a variety of factors like unemployment. While GMAC Mortgage has seen success in the modification program in some ways, there areĀ  homeowners who believe that servicers should do more to aid those who are struggling.

GMAC mortgage has completed, as the June 2010 Making Home Affordable Report, 27,505 permanent home loan modifications. Many homeowners have been seeking a modification to gain the assistance they need through the Making Home Affordable program, but there are some who have been denied mortgage aid and, as a result, have grown frustrated as they face the loss of their home.

Despite the fact that GMAC Mortgage is one of the top lenders in the Making Home Affordable Program who offers alternative modification plans and mortgage assistance options to homeowners outside of the Obama modification program, there are homeowners who believe that the amount of foreclosures many are facing needs to be addressed so that more homeowners can stay in their home.

GMAC Mortgage has completed a total of 3,498 foreclosures on homeowners who were either denied a trial modification or who had their trial modification canceled, according to the servicer report for June 2010, which takes into account actions taken by mortgage servicers who have homeowners rejected from receiving a permit modification.

While there are still troubles between homeowners and mortgage services, homeowners are often advised to speak with their mortgage lender primarily before beginning the home loan modification process. There are also outside sources like the Making Home Affordable website and Hotline which can be consulted, but homeowners now have more assistance options available to obtain a modification or alternative mortgage assistance plan then earlier in the year and for this reason more homeowners should be able to find the help they need.