Homecomings

[Joel Fraser]

I wanted to thank everyone who has provided insight on how to handle a loan modification. We emailed and faxed to every contact at GMAC. Javid was quick to respond and someone did call that afternoon like he said. At least we know they don't have any plans to foreclose on us yet even though we are almost four months behind. GMAC did a drive by on our place and it came back $130,000 less that what we paid. Of the $130,000 we owe them $67,000. They are looking into reducing our principal and payment, but it's up to the investor. I wonder what a fair compromise would be. It's a dream but I would like to see them get rid of our second or knock it down next to nothing.