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GMAC Mortgage Customer Service

GMAC Mortgage Customer Service is just one phone call away for anything you may require – from loan product information to issues involving the servicing of a mortgage product. GMAC is an acronym for General Motors Acceptance Corporation, which came into existence in 1919. However, the company got a name change in 2010 and it came to be known as Ally Financial. Despite the change in name of the bank-holding company headquartered in Detroit, Michigan, its home mortgage division, GMAC Mortgage LLC, continues to be known by its original name even now.

The corporate headquarters of the GMAC Mortgage LLC is located in Fort Washington, PA, but it also has a loan servicing center in Waterloo, IA. As one of the biggest loan servicers in the country, GMAC mortgage loan servicing center handles a large number of queries each day from different parts of the nation. We will be providing you the complete addresses and phone numbers to contact these operating centers of the company.

GMAC Mortgage Customer Service Phone Number

GMAC mortgage customer service is accessible through phone, fax, email and ordinary mail. The most used phone number is an automated service which is available 24 hours a day for new as well as existing customers. This number is 1-800-766-4622. The other contact number is 1-877-941-4622, which is generally used for making enquiries on new loan products. There also exists a special phone line for the hearing-impaired, which is 1-800-335-9228. The fax number to reach GMAC mortgage customer care is 1-866-709-4744. One can also send email but it can be done only through a secured network, which is available at https://www.gmacmortgage.com/custserv.do?method=fminit.

GMAC Mortgage Customer Service Address

The mailing address to send your post containing general enquiries is as follows:
GMAC Mortgage
Attn: Customer Service
P.O. Box 4622
Waterloo, IA 50704-4622
A qualified written request should be sent to the following address:

Attn: Customer Care
P.O. Box 1330
Waterloo, IA 50704-1330

The corporate headquarters has the following address:

1100 Virginia Drive
Fort Washington, PA 19034
Phone Number: (215) 734-8899

The mail to GMAC Mortgage Loan Servicing Center can be sent to the following address:

3451 Hammond Avenue
Waterloo, IA 50702
Phone Number: (319) 236-5400

Bank of America Mortgage Rates

Mortgage Rates

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Bank of America

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Bank of America » Mortgage RatesBank of America Mortgage RatesBank of America Mortgage Rates offer competitive advantages as they are still below the national average for most types of home loans. According to a source, the BofA rate for 30 year fixed loan remained 4.375 percent by the end of the year as compared to the national average of 4.78 percent. The same for 15 year fixed mortgage stood at 3.75 percent, several points below than the corresponding national average of 4.19 percent. The bank is expected to maintain the low interest rates in 2011 in order to attract homebuyers with reduced salaries and unsteady financial conditions. BAC offers mortgage and refinancing solutions through its subsidiary Bank of America Home Loans, earlier known as Countrywide Home Loans.

Bank of America Mortgage Rates Today

To see today’s Bank of America mortgage rates you need to supply information regarding the location and the type and amount of loan you are interested in. Here is a sample of what you see when you select Los Angeles, California as location and $100,000 as the loan amount for a home purchase.
Home Loan Products Interest Rate Points APR Monthly Payment 30-Year Fixed 15-Year

Fixed 25-Year

ARM 5-Year ARM (Interest Only)

30-Year Fixed (Interest Only)

The rates shown above assume that the borrower has good credit standing and possess an escrow account to make payments for taxes and insurance. Also note that the current mortgage rates for locations in Florida, NY, VA, Texas, NC, Maryland, CT, Colorado, and any other US States may be different for home purchase as well as for refinancing. Jumbo loans usually have an interest rate that is higher than the conforming loans.

Bank of America Mortgage Rate Reduction

Bank of America offers step-by-step guide to choosing a loan program depending upon the budget of the homebuyer. To start with, you can use an online mortgage calculator to see if buying is right for you and if yes then how much you can afford. For home purchase there exist a rate calculator that allows you to view the interest rates applicable in your state by providing purchase price and down payment details.

There are other factors that play important roles in determining the cost of the loan. Chief among them are closing costs, lender fees, taxes and insurance. You can buy points to reduce rates but remember buying more points will increase your down payment requirements. B of A also offers mortgage loans with no points. The resources like rate history, trends and today’s chart will help you decide appropriately.

Moreover, you can talk to a loan officer at 1.888.866.6702 to get assistance in choosing a loan product or call the phone number 1.800.586.9861 to obtain BofA mortgage rates today. Once you find what you are looking for call 1.800.799.2841 to lock in your rates till the time of closing.

Those existing customers having difficulty in making payments can seek a modification of loan terms through programs like Bank of America Mortgage Rate Reduction Program or if eligible can go for a refinance loan at a lower rate. The BOA mortgage rate sheet is accessible online to registered wholesale lenders and mortgage brokers who can call 1.888.475.7050 for more information.

Website: www.bankofamerica.com

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About Us

BAC Home Loans Servicing LP, Bank of America Mortgage Servicing

BAC Home Loans Servicing LPBAC Home Loans Servicing LPBAC Home Loans Servicing LP is a subsidiary of Bank of America. It acts as the mortgage servicer for the company. The responsibility to collect payments from the borrowers as well as to administer foreclosure process lies with this company. The existing mortgage customers of BofA as well as the erstwhile Countrywide Bank customers should contact a concerned department of this company regarding monthly payment, loan modification or foreclosures. The company has also registered a number of real estate agents who help it sell REO properties. Its foreclosure list contains houses financed by Bank of America, NA as well as Countrywide Financials.

The annual loan statements are usually sent via mail in the third week of January each year. You can also see the statement or get a print of the same online. BAC Home Loans Servicing LP can provide information about the amount you paid for interest, insurance and taxes for the period it has been handling your account. The tax and insurance payments are made through an escrow account. If a credit report you have obtained from any of the four credit bureaus contains some points that you don’t agree with, you can contact either the bureau or BAC Home Loans Servicing Customer Service Department at 1.800.669.6607.

BAC Home Loans Servicing LP Contact Information

It is necessary to have a mortgagee clause included in your insurance policy in order to protect the interests of loan providers. The mortgage clause creates a separate relationship between the mortgagee and the insurer. The policy should contain the following name and address of the loan servicing company.

BAC Home Loans Servicing, LP
Its Successors and/or Assigns, As Their Interest May Appear (ATIMA)
TX2-977-01-03
P.O. Box 961206
Fort Worth, TX 76161-0206
Fax: 1.800.293.8158

To renew your insurance policy, you can send the policy details and your account number to BAC Home Loans Servicing LP Insurance Department at the following address:

PO Box 961206
Fort Worth, TX 76161-0206

The same can be done online by visiting homeloansbusiness.bankofamerica.com or by phone or fax at 1.800.293.8158. To delete flood insurance, you can send the required documents, which include a letter each of Map Amendment and Map Revision, to the insurance department using the mailing address given above. The fax number to send the same is 1.866.743.5640.

An insurance claim check can be sent via regular or express mail to the following address:

Bank of America Home Loans
Property Claims Services – CA6-919-02-45
P. O. Box 7953
Van Nuys, CA 9l409-7953
Phone Number: 1.800.669.6076

The mailing address to use an overnight service for the same is:

Bank of America Home Loans
Property Claims Services – CA6-919-02-45
400 National Way
Simi Valley, CA 93065

BAC Home Loans Servicing LP Online Payment

Those not having a B of A checking or saving account and still want to pay online can enable automatic payment deduction from any bank account using Mortgage Pay on the Web. BAC Home Loans Servicing LP online payment doesn’t require you to pay anything extra if you get your account drafted during or before the first one third of your grace period. After this period you will be charged a late fee of $3.00 for the next 1/3 of your grace period and then $6.00 afterwards.

You must make a payment in full otherwise the bank will transfer the money to a partial account where it remains until you send the balance amount. Moreover, the bank also provides bill payment services online and you can even receive your bills online by choosing Pay To account option. If you are a resident of either California or Colorado, you can send your payoff funds to the Fort Worth TX office of the bank.

If you do not pay by the due date or within the grace period, which could be of 5 to 15 days depending upon the type of mortgage loan, you will start receiving a series of reminder notices from Home Retention Division. You are likely to be asked about the reasons for not making the payment in time so that the home retention department can help you prevent your account becoming delinquent and obtain the facilities of a homeowner assistance program that your can qualify.

To make a payment via mail, use the following addresses:

Bank of America Home Loans
PO Box 15222
Wilmington, DE 19886-5222

Bank of America Home Loans
PO Box 515503
Los Angeles, CA 90051-6803

Bank of America Home Loans
PO Box 650070
Dallas, TX 75265-0070

The headquarters of BAC Home Loans Servicing, LP FKA Countrywide Home Loans Servicing, LP is located at the following address:

Bank of America, N.A.
PTX-C-32 7105 Corporate
Plano, TX 75024

To communicate with BofA officials through a secured email address, you need to visit the website of the bank.

Bank of America Bankruptcy, Department, Phone Number

America Bankruptcy refers to a financial stage when a debtor is unable to repay debts, thus stopping creditors legally to pursue their debtors for the amount they owe. The term ‘bankruptcy’ is used more commonly for businesses and commercial properties whereas for residential properties the word ‘foreclosure’ is used more often. Technically speaking, both have the same meaning and imply same legal consequences. The creditors get the right to seize the property of debtors and sell it off to make for the loss in a typical bankruptcy or foreclosure situation. The process could be either a judicial or a non-judicial one depending upon the law of the State as well as the provisions of the loan documents.

It may sound easy to file for bankruptcy and come out of any obligation to pay off your loan balances, but you are likely to face severe financial consequences and adverse credit reporting once you are declared a bankrupt. This is the reason why one should try to their level best in avoiding a possible foreclosure or bankruptcy situation. Those who have already gone through this nightmare should try hard to recover and get back on track. Some of the steps they should focus on include paying bills on time, using new credit responsibly, building bankruptcy protection and ensuring that your credit reports are updated frequently with improved credit scores. Save for a down payment and wait until your credit score improves so as to allow you to get a fair deal if you are considering for a home mortgage in next few years.

Bank of America Bankruptcy Department

Bank of America Bankruptcy Department gets into action once a homeowner files for bankruptcy or there is no option left to give him/her relief in mortgage payments. A notice of default is sent to the borrower that sets the timeline for a possible foreclosure on the property against which a lien exists. The process continues as per the guidelines mentioned in the mortgage documents. In a judicial procedure, the federal court decides on the auction date whereas in a non-judicial procedure the bank sets a time frame for the sale of the property. Even after sending you the notice of default, BofA keeps open its windows for negotiations and a last minute settlement to prevent a home foreclosure. It is strongly advisable to use your options to the full and never give up in your efforts to avoid bankruptcy. Remember that your credit report may continue to show your filing for bankruptcy for up to 10 years.

For homeowners, Bank of America Bankruptcy Department exists in the form of a foreclosure department. Hence its contact details are the same as those you’d find for BAC foreclosure department. Here is the complete address, phone and fax number. Note when you apply for loan assistance, you might be sent for a Modification Bankruptcy Disclosure Rider form that you are required to complete and send back to the banking division administering your case. It is better to take the help of a specialist in preparing your case for quick hardship assistance.

Bank of America Bankruptcy Department Phone Number: 1.800.846.2222

For Bank of America Bankruptcy Department Mailing Address and Fax Number, check the website link provided here. You will also find here latest news and updated information on current loan assistance programs for BOA as well as Countrywide customers.

Bank of America Correspondent Lending, Warehouse, Wholesale Mortgage

America Correspondent Lending Division offers products and services to mortgage bankers and correspondent lenders and help them serve their borrowers with quality home loan solutions. The correspondent lending division is a part of Bank of America Home Loans, a subsidiary of BAC. Bofa purchases closed loans from their clients and sell the same in the secondary mortgage market to generate more funds for new loan originations.

The information to these valuable partners of the bank is provided through a separate website correspondent.bankofamerica.com. But to access information one needs to sign in first with their login ID and password. The bank provides complete correspondent mortgage lending guide and several other resources including marketing materials, training programs and product highlights to its online clients.

BOA also offers warehouse lending solutions online through its website warehouselending.bankofamerica.com. To access this website you also need to have your unique login ID and password. Call the customer service department at (877) 425.3463 to get more on working with the correspondent and warehouse lending divisions of Bank of America.

B of A also offers Neighborhood Lending programs to meet the home loan requirements of low-to-moderate-income families (LMI) and other sections of community. Visit neighborhoodlending.bankofamerica.com for more details on how one can join hands with the company in its mission to fulfill the homeownership dream for all.

Bank of America Wholesale Mortgage

BofA’s share in retail mortgage origination is over percent whereas it stands below percent when it comes to its share in first mortgage wholesale market. Probably this is the reason that has compelled Bank of America to announce closure of its wholesale lending division. With the shutting down of this division, mortgage brokers would no longer be able to get underwriting and processing solutions from the bank and see its rate sheets online. Even the website wholesale.bankofamerica.com is not responding when someone tries to open it.

The formal announcement to exit the first mortgage wholesale channel came on October 5, when the President and CEO of Bank of America Home Loans made it clear that the company is inclined to focus more on enhancing capabilities in direct-to-consumer channels. The bank however has to allow the current loans to complete the transition process before it can make a final exit from the market.