GMAC Mortgage has continued to redistribute additional principal paid to my load to their terminated PMI despite letters and phone calls. They have re-routed monies put to principal, falsely stated that escrow amount in the same amount as PMI are due. By the way my loan has been down to 64% of the original loan - the cutoff is 79% where they have to end PMI when they are notified by the mortgagee or borrower. I have filed a complaint with my state Consumer Protection Agency and nothing is done. Just reporting a Scammer. Never get a loan with GMAC as they practice consumer fraud and abuse of their loan recipients.
***NATIONWIDE MORTGAGE ALERT*** General Motors is linked with the Federal Reserve.....
#2Consumer Comment
Wed, June 02, 2010
according to a site where the chart of ownership for the FED and 4 other related charts appear.
*Anyone can 'Google' this- WHO OWNS THE FED?, and go to the site with the chart of ownership and the related charts, correct? (GMAC is also linked with General Motors.)
I believe that Cerberus Capital Management also owns part of GMAC. (Do some research on who runs Cerberus, if you have a chance. I believe that they bought most of Chrysler Corp. a few years ago. Chrysler is also linked with the Federal Reserve.)