Mortgage Review/NACA/GMAC

dianne

Senior Member
Nov 5, 2010
323
2
0
I sent in the form for a mortgage review, through NACA. Yesterday I received a notice, from GMAC saying they sold my mortgage. Does this mean that nothing beneficial to my family, will come from the mortgage review and/or any settlements that may be forthcoming for some home owners?
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
I sent in the form for a mortgage review, through NACA. Yesterday I received a notice, from GMAC saying they sold my mortgage. Does this mean that nothing beneficial to my family, will come from the mortgage review and/or any settlements that may be forthcoming for some home owners?
Hello Dianne,

I was reviewing some of your older posts and my heart goes out to you nobody deserves to suffer what you have gone through. I truly hope everything goes well and you are in a better situation now than you were a few months ago. Even though your mortgage may be transferred to a new servicer this does not eliminate your chances to receiving assistance. Which program/settlement are you inquiring about?
 

dianne

Senior Member
Nov 5, 2010
323
2
0
Hello Dianne,

I was reviewing some of your older posts and my heart goes out to you nobody deserves to suffer what you have gone through. I truly hope everything goes well and you are in a better situation now than you were a few months ago. Even though your mortgage may be transferred to a new servicer this does not eliminate your chances to receiving assistance. Which program/settlement are you inquiring about?
Thanks Evan...I did get a mod., but 40 years, plus about $60,000 balloon when I am 95.....The house needs significant work. It was built without building permits and few inspections, as are all homes here. GMAC didn't do an on-site appraisal, for any one of the loans here, including a 2nd, we paid off, the original mortgage., and 2 re-financings. The physically, on-site appraisal I paid for, and the only real one ever done, that also included a full physical inspection, with licensed inspectors, showed the house, even the day we closed on it, almost twelve years ago, was worth about $140,000 less than we paid for it. With the problems, that were here, from day 1...At the time of the appraisal, the report showed the house worth about $74,000 and there is nothing about it, that makes it worth more. We lost the electric heat, except in 25% of the house a year ago and we no longer have air conditioning. We are heating with an outside wood boiler....(Last summer my 2 autistic boys, while the others were at camp, helped to can 130 dozen ears of corn, during 112 degree temps, and no air.)

Don't get me wrong....We are so grateful to be here, but it is the 11 acres of land we treasure. We grow all year around, including winter. We are now tapping maple trees and trying hard to replace our white sugar with maple syrup...No GMO super sugar beets for my chicks...Still....

GMAC tortured us, from start to finish....I am certain that at least 15 work-out packages went into them. I finally got results, when I turned them into every regulatory office I could. I owe a fortune for a house that is only worth only a fraction of that amount. My credit has been destroyed. My Ex is still on the mortgage, but not on the deed, and the threat of having him go to the judge..AGAIN...And request I be ordered to sell the property is ever looming....The stress is horrible. He wants us out of this house, no matter what he has to do, and he will not quit until he has accomplished his goal. He doesn't care, that 4 children live here, two disabled. Doesn't care a bit and neither did GMAC.

So yes....I thought the govt. mortgage review might help...Stupid wasn't I? I turned in the form on-line and also NACA submitted one. All I have heard is that it may be some months. Then I read that some mortgage companies settled with the govt. Then I got the letter saying my mortgage had been sold.....I just try to hang on to a little hope, but.......That rope is getting thin.....

Is there anything else I could apply for?
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
GMAC tortured us, from start to finish....I am certain that at least 15 work-out packages went into them. I finally got results, when I turned them into every regulatory office I could. I owe a fortune for a house that is only worth only a fraction of that amount. My credit has been destroyed. My Ex is still on the mortgage, but not on the deed, and the threat of having him go to the judge..AGAIN...And request I be ordered to sell the property is ever looming....The stress is horrible. He wants us out of this house, no matter what he has to do, and he will not quit until he has accomplished his goal. He doesn't care, that 4 children live here, two disabled. Doesn't care a bit and neither did GMAC.

So yes....I thought the govt. mortgage review might help...Stupid wasn't I? I turned in the form on-line and also NACA submitted one. All I have heard is that it may be some months. Then I read that some mortgage companies settled with the govt. Then I got the letter saying my mortgage had been sold.....I just try to hang on to a little hope, but.......That rope is getting thin.....
WOW I cannot believe how insincere your ex-husband is and he seems like a horrible person!! No one deserves to go through this and I cannot believe he would try to take the home away from you and your children. You all seem to be extremely hard workers and I truly wish you the very best and we will do all we can to help you out. Yes GMAC is one of the five servicers participating in the National Mortgage Settlement but I believe they must own and service your mortgage. Do you know who your investor is? Also which servicer is your mortgage being transferred to?
 

dianne

Senior Member
Nov 5, 2010
323
2
0
As of today. my GMAC mortgage has been sold to Green Tree....So is this their way of getting out of settling with us? I think my investor was Fannie Mae, but need to check.
 

dianne

Senior Member
Nov 5, 2010
323
2
0
I contacted the mortgage review company. They told me that my mortgage was still under review and GMAC selling my mortgage to Green Tree didn't affect anything. I asked them what could they determine, from the fairly brief form I filled out, on-line. That certainly didn't include the entire story. They told me I could send in any documents I wanted. My daughter copied for hours and I send two big packages in yesterday, signed receipt. I included all of my complaints, to govt. agencies, the multiple and repeated requests, from GMAC, asking for the same documents, that they already had...Over and over again. I included the only real appraisal ever done on the property, in spite of 3 mortgages and one second...All by GMAC. I even included a copy of the appraisers license. I sent in copies of all the mod. denials and all of the mod. approvals, that were for too high a payment. I sent GMAC's refusal to send me the NPV, and a copy of the note and settlement papers...MERS.

For those of you that filed for a review...If it isn't completed, you can still update your file. I am counting on one thing...Those reviewers had no clue what went on with our mortgage/modification nightmare. Thankfully, I only needed a cover letter and I could use documents I had or had already prepared.

I don't know what the possibilities are for this review, but wanted to give it one last shot....
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
For those of you that filed for a review...If it isn't completed, you can still update your file. I am counting on one thing...Those reviewers had no clue what went on with our mortgage/modification nightmare. Thankfully, I only needed a cover letter and I could use documents I had or had already prepared.

I don't know what the possibilities are for this review, but wanted to give it one last shot.
Hey Dianne,

Dd you happen to get my email I sent you a few days ago? If not, I'll send you an email again to the address you registered your forum account under. I'm honestly not too sure which account GMAC is currently reviewing your account for, but Fannie Mae and Freddie Mac-backed mortgages are not eligible for the National Mortgage Settlement.
 

dianne

Senior Member
Nov 5, 2010
323
2
0
Hey Dianne,

Dd you happen to get my email I sent you a few days ago? If not, I'll send you an email again to the address you registered your forum account under. I'm honestly not too sure which account GMAC is currently reviewing your account for, but Fannie Mae and Freddie Mac-backed mortgages are not eligible for the National Mortgage Settlement.
Evan,

I went and looked for it, but couldn't find it. Would you please send again? Thanks!

I filed for the Independent Mortgage Review. I was sent the form in the mail. I didn't initiate it.
I also filled in the form, that NACA sent. I am not sure if they were for the same.

Dianne
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
It seems everyone here who was sent this form for the Independent Mortgage Review has yet to hear anything back. Yes I will resend the email asap just had a few questions for you.
 

dianne

Senior Member
Nov 5, 2010
323
2
0
It seems everyone here who was sent this form for the Independent Mortgage Review has yet to hear anything back. Yes I will resend the email asap just had a few questions for you.
I sent you an e-mail, last night...So you would have my e-mail.

Thanks for helping!
 

dianne

Senior Member
Nov 5, 2010
323
2
0
Hi Evan!

Hey Dianne,

Dd you happen to get my email I sent you a few days ago? If not, I'll send you an email again to the address you registered your forum account under. I'm honestly not too sure which account GMAC is currently reviewing your account for, but Fannie Mae and Freddie Mac-backed mortgages are not eligible for the National Mortgage Settlement.
I never received your e-mail. I sent you another one.

Thanks!
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
That is strange, I keep replying to the one you sent and it seems to be going through.. I was wondering why you did not email me back lol, if you have a different email please try again using that one or possibly check your "Spam" box to ensure the email wasn't automatically placed there..
 

dianne

Senior Member
Nov 5, 2010
323
2
0
From Dianne..

That is strange, I keep replying to the one you sent and it seems to be going through.. I was wondering why you did not email me back lol, if you have a different email please try again using that one or possibly check your "Spam" box to ensure the email wasn't automatically placed there..

I'll go and do that now. I checked spam and there wasn't anything.

Thanks!
 

dianne

Senior Member
Nov 5, 2010
323
2
0
I Evan...I sent you another e-mail, from a different address. I was wondering if you received it. Maybe in your trash...

Thanks!