- Report: #643237
Complaint Review: gmac mortgage - Internet
Reported By:
missouri -
sikeston, Missouri, United States of America
Submitted:
Updated:
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Author Not Confirmed
Why?
gmac mortgage
Internet, United States of America
Phone:
Web:
www.gmacmortgage.com
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gmac mortgage misapplied payments and payment has increased $300.00 in 3 years on a fixed rate. Internet
I had a 15 year FHA loan through GMAC and I was about 3 years into it. I refinanced and was advised that I had to refinance to a 25 year loan because that was the shortest time they could do it. They had my account so messed up it was not funny. I made a by monthly payment. They refused to apply the payment by monthly and would only apply it once a month. They are still charging interest on the money they had. I could only refinance through them due to this reason. I have a fixed interest rate and original payment of about $730.00 per month. in the past 3 years it has increased to $1130.00 per month.
My home owners has decreased and taxes are about the same. I send them $450.00 twice a month since I had the loan. I am still behind for more than $2000.00. Again they held the money and did not apply it when it was sent, still charging interest on it. There is not to be any penalties for paying early. Still charging interest and late fees. There needs to be something done about the big companies doing whatever they want to people. How much money are they making off of just not applying payments correctly. At least we are trying to pay them something. I guess $900.00 per month is not good enough for the poor economy.
My home owners has decreased and taxes are about the same. I send them $450.00 twice a month since I had the loan. I am still behind for more than $2000.00. Again they held the money and did not apply it when it was sent, still charging interest on it. There is not to be any penalties for paying early. Still charging interest and late fees. There needs to be something done about the big companies doing whatever they want to people. How much money are they making off of just not applying payments correctly. At least we are trying to pay them something. I guess $900.00 per month is not good enough for the poor economy.
1 Updates & Rebuttals
MovingForward
Wellington,Florida,
United States of America
GMAC Mortgage is having real problems now
#2Consumer Comment
Wed, September 22, 2010
Get all of your records together, you may actually have a good case to take to an attorney. GMAC is in the middle of a trial here locally (West Palm Beach FL) where one of the co officers admitted under oath to massive fraud in their paperwork. This is a national problem that is so large that GMAC stopped their foreclosure process in 23 states as of yesterday.
Obviously you would need to find an attorney in your location and have proper documentation. Make sure the attorney is a good real estate attorney and a litigator, not just some mill type attorney you see on TV. Interview several attorney's to find the right one. But given what GMAC is going through right now, you may have a much better shot than you would normally.
While you are shopping for an attorney, send out a strong RESPA letter to GMAC to get their response as to what is happening with your account. Send the letter certified mail return receipt request so you have proof of mailing. Keep a copy for your records.
