Complaint Review: GMAC Morgage - chicago Illinois

in the consumer comments section at Ripoff Report #411913.

I have reported Karl to this site and asked that they try to control or ban him.  At first they claimed they didn't know who I was talking about (yeah right) and asked for a few reports he participated in because they couldn't find him (yeah right).

Anyway, obviously nothing was done and I know I'm not the first to try.

I really wish he was smart enough to understand that what he is doing is counterproductive.

He is clearly one sick puppy and possibly dangerous.

in the consumer comments section later today.

....you do not have to go to any BANK OF AMERICA "page" of this site. Simply enter the number 411913 in the search on the top right this website.

And if you do..you will find that no one is looking for it, and no one gives a crap. You will also find is an anonymous report, and 45 comment and poems and sing a longs and googles were left by the same person..Karl.

This report is sad but why would Karl want to distract from this report against GMAC finance and have people go to some unrelated bank employee life insurance report that no one but Karl cares about?

Instead of writing President Obama, why not write the owner of this website and see he will ban Karl for ruining the site and discrediting/diverting legitimate reports. Or write Karl directly and ask him to stop..here is his address...

Karl c/o
Jefferson Center for Mental Health
4851 Independence St. #200


Wheat Ridge, CO 80033

and at the following pages of this site-

The comments seem to miss the point of this forum. This is a dreadful state to be in, and I have not right to compare myself with this, yet I have experienced hardship - as have many people in RIPOFF. The banks have become predatory and what used to be "a crime" is now common accepted policy. Mortgage companies are some of the worst since they can gouge us the deepest. If by some miracle everyone were to file a report on this government site the issues that are systemic in the industry would become a primary source of interest for the government. I am not going to take it no more should be the cry of all people in the clutches of such anti-people policies for soon a legal debate will be taking place about whether a corporation has the same PERSONAL rights as a human being! We cannot afford to be lemmings! Nor can we just say the president doesn't care when it is obvious he is trying to make a difference - his decisions and policies are attempting to right past and ongoing wrongs. Deregulation has created a major problem for the government to tackle. We can begin to change the common accepted policies. So to be proactive in this process, and not stay in past bad choices or experiences, please consider writing up a report and posting it on this site:

http://www.ftc.gov/reports/index.htm

You should have known that You haven't a chance in hell he'll ever see it.

Haven't you figured out that Obama cares ONLY for Obama, he wouldn't give a s**t if you were on fire,  Don't feel slighted, He cares for NOBODY but Himself.

Oh and while I'm at it it's NOT racism, he doesn't give a sh* what color you are.

Unless he can use it to make himself look good, He just doesn't give a sh* period.

I sent a letter to the President and I received a form letter with a stamped signature telling me my options for modification even though the letter that I sent him detailed the "wonderful" experience that we have been having with GMAC since July of 2009!  I am in the process of contacting a state senator and hoping that he will at least read my correspondence for what it says and not just send a formality response.  The American dream is dying and no one in Washington or the big banks that accepted billions of OUR taxpayer dollars appear to care.  The middle class is no more and compassion for your fellow human being seems to be disappearing too.  I hope someone steps forward and helps those of us that have found themselves in a place they never imagined.  So much for the change that Mr. Obama promised in his campaign speeches; guess he left out the fact that the change would be negative.  Prayers and blessings to everyone...

in the consumer comments section at Report #411913.

at the following address:

I'd check the mailing address they have on file. I have a friend that uses GMAC and they send stacks of confirmation letters for every small transaction or lack thereof. Also, you would have to be in a very windy area or something to have that neon slip fall off the door.  GMAC is notorious of those neon slips that notify you when an eviction is getting close due to no payment.

The reason why the banks buy it for more than you owe is that they are buying it under new property values. The increase in cost is backed by bank as they are there own lender. 

The house would get listed as a "short sale," which means the bank goes through the approval process of selling the property potentially short of the initial loan value that you had.

If the bank sells it for an increase of their 40k extra investment, that is money to them as property values typically go up. If they don't, they will still get money in interest when the new buyers move in which will cover that 40k. By putting in an extra 40k, that also makes the property value go immediately up.

Property values are primarily decided by the average sale price of a similar house in your area. The amount they buy it for gets recorded to the assessors office to increase property value. It's a win win for the bank as that purchase immediately makes the house "worth" more.

The short sale process typically takes up to a year, so it's be amazing if that property has new buyers in less than 6 months as short sales take a incredible amount of processing and approval by the banks to make sure they are going to get their moneys worth.