Mortgage lender (GMAC) will not work with me to lower my 7% interest rate to lower payments and avoid foreclosure. What to do?

Asked over 5 years ago - Cleveland, OH

Whenever I call GMAC, they say they might talk to me about a lower interest rate if I get current with my payments. If I could make the payments, I would not be asking them for help! My new job doesn't pay as much as the job I had when I bought the house in 2008. I need to re-negotiate my loan. I need help!

Attorney answers (1)

  1. Shadrach Neiss

    Contributor Level 8

    Answered . Unfortunately, most lenders are not helping homeowners in distress.

    I would recommend contacting the Neighborhood Housing Services of Greater Cleveland (NHSGC). They are a non-profit community development corporation with free foreclosure prevention programs and services. NHSGC can be reached at 216.458.HOME (4663). Best of luck to you moving forward.


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