Due to the economic crisis my husband’s business began to slow down dramatically to where he could no longer earn a salary. We contacted our mortgage company, GMAC, to see if we could be eligible for a loan modification. Since we have a 15-year loan we just wanted to change that to a 30 a year mortgage to reduce our monthly payments. We tried to refinance but our home value had fallen and we were not able to do so. GMAC sent us a letter stating that we would first need to go through a “trial” period where we would pay an... read full review »