Please help!! Gmac contact/escalation/advice

I have been posting here throughout my short sale process. We have approval on our first but have to get an approval asap from gmac on the second. Our file has been with gmac for 12 days but we haven't gotten anywhere with them as of yet. I know we have a negotiator but they haven't accepted the 6,000 yet. Does anyone know how to move
the process along? We have 30 days to close this deal. I am desperate for help and so stressed out. I'd really appreciate if you have any advice for me.

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Permalink Reply by Scott Gregory on October 19, 2011 at 11:09am

My first question is, why didn't you start the process with gmac when you started it with the first loan? You have to give them a realistic timeframe to process.

 

12 days isn't enough to start escalating. They haven't had the file for long, and in truth, they should have had the file a long time ago. You're going to probably have to ask the first for an extension.

Permalink Reply by Jenn on October 20, 2011 at 6:09am
The listing agent did submit the file with the first, I should have said they have had the approval letter from the first for 12 days. I am the buyer but was hoping someone had advice on getting gmac approval quicker.

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