GMAC MORTGAGE ripoff poor customer service no follow thru no call backs when promised Waterloo Iowa
Feb 05 GMAC acquired our 1st Mortgage from our original lender. The original lender advised us to send the Feb payment to them. They would forward to GMAC with docs. Feb came and went. We sent our Mar payment- which GMAC applied to the Feb payment. We called GMAC advised the Feb payment was received by previous lender and would be forward. We were advised no problem. Will apply it once it is received, but to keep sending our payments. Mar came and went. We sent our April payment. But this time we could see on the statement that the Feb payment was finally received and applied to the escrow account. Again this April payment applied to Mar payment. Late fee assessed.
We called again. Advised by GMAC that this would be corrected and late fees credited. Again that there was no issue. Continue to send payments. April came and went. We sent our May payment which was applied to the April payment.
Late fee assessed. We called again. Advised by GMAC that this would be corrected and late fees credited. When asked why this was not corrected as promised the prior month, GMAC offered no explanation, not even an appology.
May came and went. We sent our June Payment. This time we sent the amount that the statement advised due to all the credits and "things working themselves out" By golly- we get a call from GMAC to tell us they are not accepting our June payment as it is short.
Unbelievable. We went into the entire story. GMAC advised payment would be applied and late fees credited. They would pull the amount from the escrow account (this is something that was promised for several months now).
June came and went. We send our July payment. Again. By golly we get another call from GMAC. We figure things are turning aroung with their customer service.
BOY WERE WE WRONG. They were calling to let us know that our mortgage account was going up for FORECLOSURE review on 7/22/05 and wanted to know if we wanted to make a last stitch effort to settle.
I CAME UNGLUED. Could not beleive it. We have a credit score of 760. Never in my life have I had a conversation like this. I sternly explained the entire story AGAIN. No appologies. NOTHING. They transferred me to the Customer Care group who said they would remove me name from that list and I should not be called again. That she would clear up our account once and for all.
I advised this was the last straw for me. GMAC bought the rights to service my loan which they have not done so. I have made several honest attempts to let them resolve this, with no success. I advised I would be refinancing as I could not chase something as important as my mortgage monthly.
We proceeded to refinance and to top all things off, GMAC is charging over $3k for a prepayment penalty. We could not beleive it. After all that we endured, all the chances that we gave them to make it right, prior to deciding the only way to take control of this situation was to refi. My calls made it all the way to their executive offices, with not even an apology. No one even offered to make things right for us in order to keep the loan.
GMAC just did not give a d**n; quite a shame.
Christine
Queen Creek, Arizona
U.S.A.
1 Updates & Rebuttals
Bob
CEDAR FALLS,Iowa,
U.S.A.
"by design" Service with a $mile
#2Consumer Comment
Thu, March 16, 2006
I have been aware for some time, of the nature of complaint you you are experiencing and I believe it's occurring to you,
"by design".
No really good company would allow any of their employees to constantly misrepresent their relationship with you, as you have described. However, of this type of mortgage complaint, I have had many years of experience: as a volunteer consumer advocate to a labor organization, of national stature. So, there seems to be money involved in the decision by GMAC, and by their not being willing to clear-up a simple slow pay, by the previous company: who, didn't do what they said they would do in a timely manner. Short answer = YOUR FAULT
Companies far and wide, in my opinion, like to set-up situations where something happens in payment or billing that puts your agreement with them at a great disadvantage. Of course, whenever these agreements are broken, FEES are involved and almost always impossible to reverse for any reason,
especially when it's, "by design"!
Computers, unfortunatly have allowed American businessmen to make their accounting departments do just about anything they want, i.e. ( ENRON ); This, putting consumers into creative boxes that will ultimately benefit their companies, at your expense.
Reason why = MORE MONEY for them, or at the least a quick short-term internal loan, to a particular accounting department who, "just don't want to do right, for you", and appears to me, to be an especially profitable shinannagan for the really BIG firms.
As my uncle O'loughlin used to say:
" IF THEY SAY IT'S NOT THE MONEY - - IT'S THE MONEY!"
So, "BE MORE CYNICAL", that's my motto.
Good luck against one of Americas biggest lenders and mortgage processors.