Does This Sound Right?
I faxed the signed "Release of Information" to GMAC. Called them to request a SS Package. He said they don't have one and that I need to have the owners of the home send a Letter of Hardship, a list of monthy expenses (ie auto loans, 2nd mortgages, living expenses, gas, food, child care, etc.), last 2 pay stubs, bank statement. Then they will see if it actually qualifies for a SS. I said that they owed more than the house was worth (they owe approx. $126,000-house may be appraised at that much). Does this sound right? I need to get a move on because it is suppose to go up for auction on the 19th of this month. They informed me that they could hold off if everything checks out. These people filed for bankruptcy, everything is discharged. What should I do next. I am by far not an expert in this, this is my first SS and it just so happeded that we actually want to buy this house for us to live in. Any advise would be wonderful. Thanks.
Diane
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