A very interesting event occurred looking at a short sale in Florida with GMAC. The owner of home didn’t want to bother paying on his home any longer so he had an individual call GMAC pretending to be himself. I am sure everything told them was fabrication. to my surprise, GMAC forgave 103,000 and the next day, the same person put a bid on a new home with another lender-now having purchased this home. What a shame, GMAC can do this and lose taxpayer money, since now they have also been bailed out. Does anyone make any sense to this? Is this the usual end of a short sale?
