How the $25 Billion National Mortgage Settlement Killed Short Sales

short sale charlotte nc

In February, the Justice Department and 49 states Attorney’s General reached a settlement between themselves and the nation’s five largest mortgage servicers: Bank of America, Ally / GMAC, Citi, Chase, and Wells Fargo.  At the time, it was viewed as a monumental accomplishment for foreclosure abuses related to the robo-signing scandal, where banks forged signatures [...]

GMAC Mortgage / Ally Short Sale Info

gmac_384

GMAC Loss Mitigation: 1-800-850-4622 Fax: 1-866-502-0424 Letter of Authorization Fax: 1-866-709-4744 Tips for working with GMAC: Make contact as soon as the property is listed for sale.  Send in the letter of authorization and then follow up with a phone call to loss mitigation.  After the authorization letter is processed, they will allow you to [...]