uncertainty--woman puzzled look

Help! My Mortgage Company Filed Bankruptcy (Or, What to do if GMAC is your lender)

Sometime during the third or fourth week in May, 1.2 million homeowners went to their mailbox and pulled out a notice that their mortgage company, GMAC Mortgage (“GMAC”), filed for Chapter 11 bankruptcy protection.  Actually Residential Capital, GMAC’s parent company, filed along with 50 of its subsidiaries, including GMAC.  About 30 seconds after the average…

fighting foreclosure

Mortgage Modification: Is it worth it?

Written by Charleston Foreclosure Defense Lawyer, Graves H. Wilson, Jr. Having examined quite a few loan modification offers, I have mixed feelings about recommending that my clients accept a mortgage modification.  Obviously, if the modification lowers the monthly payment to an amount that the homeowner can afford, it can be an immense financial and emotional…

foreclosure communication

South Carolina Supreme Court Foreclosure Order of May, 2011

Written by Charleston Foreclosure Defense Lawyer, Graves H. Wilson, Jr. In an administrative order dated May 2, 2011, the Chief Justice of the South Carolina Supreme Court, Jean Toal, stated that South Carolina courts were having difficulty resolving foreclosure actions in which HAMP (“Home Affordable Modification Program”) modifications or other loss mitigation options might be…