GMAC Inc., the troubled lender, has already been injected with two major rounds of Government bailout funds, totaling a whopping $13.5 Billion and reports have now surfaced that the company is looking at getting an additional $3 to $4 Billion in assistance and is currently in the process of negotiating the same with the authorities.

The auto and home lender is said to be tied in talks with the Obama Administration, and the size of the aid is a topic of much debate. Under the circumstances, it seems that a deal might be reached within a few days, as the Detroit based lender suffers more losses from its home loan businesses.

With the additional bailout funds, the company is looking to restore its divisions back to profit during the first 3 months of the coming year.

"We have been conducting a strategic review of our business and evaluating options to address the challenges", GMAC spokeswoman Gina Proia shared on Tuesday.

In May, the company was ordered to raise about $9.1 Billion in new capital funds post the Government's "stress tests" financial institutions.

No details have been shared by GMAC on the development.