GMAC Mortgage Negative, Rude, No customer service, Nobody knows what they are doing Waterloo Iowa
We had a structrual fire, we were under insured. The damages are well over what we are insured for. When we received the check from our insurance company it was also in GMAC's name. I called GMAC and asked what to do with the check. The first person told me to just send it and they would sign it and send it back. I was so happy that I did not get the address at the time.
I called back the next day and another person told me no they don't do that. You have to send the check and they will give a third and apply the rest to our loan. Well I had to call back and first tell my husband. When I called back they told me no. You have to send the check and they will send a third now, a third when 50% re-built, and then the rest of the check at 90% re-build. Well I don't think so, we are under insured and the check wont even pay for three walls. The fire was in December 2006 and we are still sitting on this check as of January 2009.
Nobody will just sign the check and send it back. We have so much equity in our home that it is no lose to GMAC. And what do we pay our insurance for? For them to keep our money and bank on it! We have talked to so many different people and just when we think someone will be helpful they leave the company for what ever reason. Every time we call we have to tell the same story all over again. And I mean every time!
What the right hand does not talk to the left hand? I know thats ture. I will tell every body out there do not get a loan with GMAC at all. When you call you can not talk to anybody else other then the person who is on your account. To get a Manager is like pulling teeth.
There is no lose for this company here and there is always a rule breaker. They will not budge, they are really having a hard time with just signing the check over to us. Mind you the check is not even half of what the equity is in our home. Not even a quarter.
Jaime
Paso Robles, California
U.S.A.
2 Updates & Rebuttals
Miss Guardian
Sharks Paradise,Florida,
U.S.A.
To The Under-Insured/How can that be?
#3Consumer Suggestion
Sat, March 28, 2009
Dear Underinsured: This must be a mistake, how can this be? What is this difference in ratio of what you say is underinsured to what you think it should have been? Please state how much of a $$$ difference? They are well within their right to make this check a multiple name party check but in doing so it seems highly suspicious of how they appear to be going about it! Please photo copy the check front and back?! Our suggestion is prepare an affadavit VIA: By stating the Instructions given by GMAC regarding the check & state how you believe there is a difference of value, state you shall follow their instructions only if authorized by a SUPERVISOR of whom must send you a letter stating as such! This way you have a paper trail, a supervisor name, a supervisor signature, a date and instructions but before they send you this letter per authorized instructions of Supervisor request that they have that letter "NOTARIZED". These are all suggestions from us that we hope & pray you consider carefully before you make your own & final decision. We are not lawyers nor do we give any legal advice! But we hope & pray for all victims of GMAC/Deutsche Bank/Nationstar/Countrywide plus more... because we read HORROR Stories everyday! God Bless YOU!
Daniel
Ft Lauderdale,Florida,
U.S.A.
underinsured
#3Consumer Comment
Wed, January 28, 2009
i have never heard of a mortgage co letting some one be underinsured. they do keep up on that fact. not that im defending gmac i hate them so much iv worn my teeth down any way i would check with your ins agent it maybe their fault also and check to see if other ins policys cover some things. no as far as the check what gmac is telling you is correct if the ins check is over a certain amount their name will be on it it to prevent you from spending it on that winter cruise to the tropics and not the repairs. you have to sign the check send it to them (make a copy of it PLEASE) start getting estimates from contractors use the cheepest one send it to gmac and ask for a check for the start up of repairs this will be in the contractors name not yours. about half way through you need to get another and then another . so now the moneys are all gone you are a thrid of the way through so guess what now its your turn so out of your pocket you will now pay for the rest of the work i would suggest you get a second job to pay for it this is the price you pay for not paying attention to your ins policys bite the bullet and prepare for the worse time of your life i know been there done that also one other thing MAKE SURE THAT YOU GET A CONTACT PERSAON AND SPEAK ONLY TO THAT PERSON EVERY TIME YOU CALL THEM IF NOT YOU GET BOMBAY INDIA EVERY TIME AND ITS A CALL CENTER PEOPLE NOT GMAC GOOD LUCK