Loan Modification With GMAC
GMAC continues to service loans, though they have changed the name of their bank to Ally. The company is willing to work with us on loan modifications and, as detailed below, we have some great stories of success with this company.
How They Work
Like just about every major lender and servicer, GMAC takes part in President Obama’s Making Home Affordable program.
The program offers incetives to lenders/servicers to actively take a role in getting loan modifications for customers. It’s taken some time for government officials and lender executives to get on the same page with the program, but it’s beginning to take hold. A lot of money remains dedicated to this program as the majority of those who qualify still have not received modifications. Many haven’t even applied yet.
GMAC will offer other workout options as well for those who do not qualify so don’t feel like you are out of options of Making Home Affordable isn’t right for you.
Success With GMAC
We have a number of clients with a GMAC loan that will attest to the importance and quality of the Making Home Affordable plan. While we have also secured GMAC loan modifications outside of the goverment program, these cases all highlight the success we have had with GMAC and Making Home Affordable.
In three recent cases, all homeowners are now saving a significant amount of money every month.
- Client 1 was with us for two and a half months and received a 36% decrease in monthly mortgage payments. Their new payment is $1,930,37, a $1,099.63 savings per month.
- Client 2 was with us for just one and a half months before receiving a 28% mortgage payment reduction. The new payment of $1,644,57 results in a $628.43 per month savings.
- Client 3 spent three months with us and walked away with a 17% reduction. That client is now saving $311.81 per month with a new payment of $1488.19.
As you can see, not all results are created equal, but they all represent significant monthly savings relative to the size of their loan amount. It is literally the difference between keeping your home and foreclosure.
Do You Qualify With GMAC?
The results above represent faster-than-usual resolutions. Perhaps that is an indication that results with GMAC are quicker and easier to come by. We can go over your situation in detail and see if you qualify. It’s a free process and it may lead to significant savings.
Once you are qualified, we can get started right away. Use the form on this page to apply or call the number at the top to speak with someone immediately.
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