GMAC Mortgage Loan Sharks, Not Helpful Louisville, Kentucky

Ten years ago my wife and I faced some Financial Difficulties so we took a second mortage of $50,000.00 out on our home. We were young and had no clue that the intrest rate was 12.975 percent.
We started to pay on this mortgage, and saw that we were only paying 50.00 to the principal each month, and 562.00 to the interest. At the time we tried to get rid of this mortgage, and GMAC would  not help us out.  For the last ten years we have paid over $60,000.00 in interest, and we still owe 43,935.00 dollars on this loan. We have contacted GMAC, and begged and pleaded with them to please lower the interest rate so we can pay off this loan. They have told us many times that they cannott do anything for us because my wifes credit was not perfect. We filled out  loan modification papers only to be denied because we are not behind on our payments.

We barely make enough to make this payment ,and we are at the end of the line. Its not fair that we will lose our home because GMAC will not lower our interest rate. How much more money do they need to take from us. All we are asking for is help. I think that $60,000.00 is more then enough that we have paid already, and we still have to pay the 43,935.00 in order to keep our home.

GMAC Mortgage is not a fair company, and  to me they are nothing better then a loan shark. The only question i would like to know is Why are they allowed to claim chapter 11 bankruptcy. I know that they have ripped us off over the last ten years, and they are not willing to work with us  unless we stop making our mortgage payments. If anyone out there has any advice it sure would help me out a great deal.  this is no life when you have to struggle to put food on your table in order for you to not lose your house. Its not that we dont want to make our payments we just want GMAC to work with us and not ruin our credit anymore then it alreday has been.

I have run into a wall with this company. When we call no one at GMAC has any anwsers for us.
Why is it that all of the big companies get bailed out, and the middle class hard working people are losing thier homes.Its tough when there is a loss income, and you have to choose to put food on the table or keep a roof over your head. Any help in solving our issues would be greatly appreciated.