GMAC HAFA Short Sale Sold in West Hills Closing 8/18/2011

GMAC Short Sale Department:

877-521-3698 x8743698  Phone

866-501-1610  Fax

If your servicer on your first mortgage is GMAC, then you have a couple small things going for you.  First of all, GMAC is a participant in theHAFA Short Sale Program and second, they are a little faster in response times as compared to the larger Chase and Bank of America.  Also, GMAC may be the servicer for the investor Fannie Mae of Freddie Mac.  I use the Loan Lookup Tool to check before I meet with the borrower.

Secondly, before I go on an appointment, I will have all the paperwork for GMAC printed out so that we can get everything filled out to get the process going.  This is very important because many homeowner have either a Notice of Trustee Sale or Notice of Default already filed.  If there is a trustee sale date scheduled, it is very important to get the property listed ASAP and get an offer submitted to the servicer so that they can justify a foreclosure postponement by the investor.  GMAC is a different from others in that they may require the BPO (broker price opinion) or appraisal to be completed before the postponement is granted.

The Customer Information Line is 877-941-4622.  The application form for a GMAC Short Sale is called the GMAC Financial Analysis Form.  If you are thinking of doing a short sale to avoid foreclosure, that is my specialty.  I will help you in a very personal and professional way, taking the time to explain everything as we go.  There is no cost to the homeowner since the commission in a short sale must be approved by the short sale lender.  Handling a short sale is a very specialized task so be sure that the person who helps you with a short sale has successfully completed a number of transactions before they work on yours.