Homeowners With GMAC Mortgage Denied A Home Loan Modification May Find Alternative Assistance Plans

Homeowners with GMAC mortgage may have been able to get grouped into the number of individuals who were part of the increase this mortgage servicer saw concerning the number of permanent home loan modifications they made over the past months. Many servicers, like GMAC Mortgage, did see an increase in the number of permanent modifications they made according to the August 2010 Making Home Affordable servicer report.

Yet, there have been homeowners who have not found the assistance they sought in terms of finding foreclosure prevention solutions on their home. Homeowners who were not accepted for a trial modification from GMAC Mortgage number at 105,020, as of July 2010, as reported from the August 2010 HAMP report.

However, there may be hope for some homeowners as it has been said alternative modifications have been made for homeowners who were unable to obtain assistance through the Making Home Affordable initiative. Many servicers are using these in-house opportunities to offer homeowners an alternative modification if they are unable to successfully find a lower mortgage payment solution through the home loan modification program from the Obama Administration.

While there have been some homeowners who have faced foreclosure or bankruptcy as a result of being denied a trial modification in the Making Home Affordable Program, it has also been reported that these alternative modification plans and foreclosure alternative options have been made available to numerous homeowners with various housing troubles.

Understandably, homeowners wish to avoid the loss of their home at all costs, and it is hoped that with increases in the number of permanent modifications from HAMP and in-house alternative modifications made directly from servicers, more homeowners will be able to find the mortgage assistance they seek.