Home > Bringing America Back, Foreclosure, Mortgage Modification, Stories > Federal Government Owns 74% of GMAC

Federal Government Owns 74% of GMAC

HSITrust – Homesavers will be featured in a segment of ABC’s Primetime Nightline tonight. It’s important to note that the federal government owns 74% of GMAC. That means our tax dollars are keeping it afloat. Heather Cadmen, a taxpayer who is featured in the segment should be getting far better service from GMAC.

Here is a recent article about GMAC from the Miami Herald.


  1. Audra Schubert
    December 11, 2011 at 1:26 am

    I really am in need of talking to someone about my home which I’m fixing because Chase Mortgage where I have my mortgage on my house will not help me! Very upset about it! I got behind on my payments due to being laid off but I’m working now but they won’t cut me any slack! I’ve sent requests to lower my payments but since I got behind on my payments they won’t help me! I live in Texas! Audra

  2. James and Mary brown
    December 11, 2011 at 1:28 am

    would like to meet Bruce for 6 months I have been working with BAC Bank of America trying to modify my home loan. I have sent them 3 times paperwork with no response.

  3. December 11, 2011 at 4:10 am

    Hi Bruce, I’m going to add your blog RSS feed to a couple of my bank watchdog blogs. http://www.swarmthebanks.com, http://www.bankprotests.com, I hope that is ok.

  4. Mike E.
    December 11, 2011 at 4:35 am

    I tried working with my mortgage holder, Central Mortgage for 9 months on trying to convert my adjustable with a fixed. Unsuccessful after a continual run around, apparently my second lien holder, PNC would not subjugate the loan? I had a couple of appraisals at $500. each, but no refi? I am able to pay my loans, but I am trying to be proactive before my adjustable resets higher. I get the impression, the lien holders would prefer me to default so they can take over my house and resell it?

  5. December 11, 2011 at 6:16 am

    I don’t have the life experiences that Bruce obviously has in regards to working within the banking industry, but I did find out something rather “harrowing”. Debt restructure first requires being labeled a credit defaulter by the banks.

    So whatever Bruce does to work his magic, he’s working against the established banking protocol.
    Obviously this banking rule about debt restructuring MUST be changed, and the sooner, the better.

    I have suggested a Justifiable Debt Restructuring (J.D.R.) concept and written about it here…


  6. December 11, 2011 at 6:28 am

    Bruce, here is a congressman who actually has proposed half of my J.D.R. foreclosure idea (without ever having met me or talked to me), and apparently was rejected by the white house.

    He still is someone to know. Here is the link to this eye opening article about what would help americans and neither the democrats or republicans seem interested in doing it. And this is only half of what I have suggested in my J.D.R. idea.


  7. January 19, 2012 at 2:32 am

    Hi, I’m not affiliated with HSI trust but I do have several bank protest blogs and I am encouraging you all to sign the HSI petition at Change dot org to help a family that had their home parallel foreclosed upon by Wells Fargo and then sold by Wells Fargo even though the family was completely compliant with their government mandated mortgage payment strucuture.

    Please help another family keep their home, and the success of that mission may eventually bless your own situation. http://www.change.org/petitions/john-g-stumpf-ceo-wells-fargo-rescind-rachel-kendalls-foreclosure-auction.

    If you agree to sign the petition, you don’t have to use your real address or zip code if you don’t want to, just make one up. However I would suggest using your real name and correct email address.

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