GMAC Home Loan Modification Plans–Can GMAC Mortgage Homeowners Get A Lower Mortgage Payment?

Homeowners with GMAC Mortgage have been able to use home loan modifications as a way to lower their monthly mortgage payments over the past months. GMAC Mortgage has seen an increase in the number of permanent home loan modifications they have made this year and according to the July Making Home Affordable servicer report had made 29,636 permanent home loan modifications as of the report’s release.

However, there have been difficulties between homeowners and servicers like GMAC Mortgage as many believe not enough is being done to help homeowners who are struggling with the possibility of foreclosure. Many complaints have been waged not just against GMAC Mortgage but the vast majority of mortgage servicers participating in HAMP and there are homeowners who have denied the idea that lenders want to help homeowners who are seeking a modification.

While it’s understandable that not every mortgage servicer has been helpful to homeowners in the modification program, homeowners may still have options through other avenues. While it will be dependent upon a homeowner’s mortgage servicer, there are some lenders who are offering alternative assistance through in-house modification programs that have helped homeowners who were denied a permanent home loan modification plan.

There have been homeowners with GMAC Mortgage who have been able to obtain a lower monthly mortgage payment through a Making Home Affordable modification, but homeowners feel that a greater number of individuals should be helped through these home loan assistance plans. Again, GMAC Mortgage has increased their permanent modifications from month to month, but animosity still remains between lenders and homeowners who feel that more needs to be done to provide assistance to a greater number of those who are seeking a mortgage modification.