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GMAC Mortgage Modification

GMAC Mortgage Modification aims at bringing relief to troubled borrowers through one or the other program. One can download a paper financial analysis form online and submit the same after providing all necessary details to the loss mitigation department to seek assistance from the bank. The eligibility requirements for each loan modification program may vary and so you need to be well aware of the same before proceeding with the application process. Your success depends much on how well you understand the various requirements of the program and the success stories available online drive this point quite clearly.

GMAC Mortgage Modification Forms

GMAC Mortgage Forms are available online at its website in pdf format. You just need to download the same, get it printed, fill up and submit to the loss mitigation department. The complete package also includes guidelines on how to apply for a loan modification program as well as a documentation checklist. If you prefer you can get the assistance of a professional who can assist you in supplying necessary information and writing a hardship letter that are required to process your request. The usual timeline of processing a request is 10 days to acknowledge the submission of forms and 30 days to approve the same and suggest a loan modification option.

GMAC Loan Modification Program

Not all applicants can qualify for all loan assistance programs at GMAC. In fact, a loan modification program has a definite set of eligibility requirements. For example, in order to qualify for federal government’s Making Home Affordable refinance option, a homeowner has to have mortgage loan backed by either Fannie Mae or Freddie Mac. Moreover, they must be current on their payments and the amount they owe must not be more than 105% of the current home value. Similarly, there exist different eligibility requirements for different loan assistance programs. These programs include traditional refinance, HAMP, repayment plan, loan modification, short sale and deed-in-lieu of foreclosure.

GMAC Loan Modification Department

In case you have queries or complaints, you can contact GMAC loan modification department at 1-866-964-9754. You can also use the phone number 800-225-5342 to talk to a credit counselor in case your application is denied. The completed forms must be sent to the loss modification department via mail or fax. Here are the mailing address and fax number:

Attn: Loss Mitigation
233 Gibraltar Road Suite 600
Horsham PA 19044

Fax Number: 1-866-709-4744

GMAC Help of Homeowners is accessible online and one can log on to access online form and start the application process over Internet as well. Moreover, you can get the complete information regarding all available home loan assistance programs by visiting the GMAC website.


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