Virginia
Miami Springs,#2Consumer Suggestion
Tue, July 11, 2006
Hi Tom, Consider this to be your very own personal wake up call. Tom, WAKE UP! GMAC is NOT going to stop the foreclosure procedure. It will not do anything but string you along until it gets you into court and with it slick talking lawyers rob your mother of her home and you of your inheritance. GMAC sees your mother's home as the proverbial ?cash cow.? After 28 years she undoubtedly has significant equity in her house, this equity is what GMAC is after. Your story reads like a ?ditto? because it is one. Gmac targets those of us who have a large amount of equity in our home. Save the $500 Gmac is trying to extort from you. Better you should use it as a retainer fee for a good real estate lawyer. Let's do a little hypothetical math here: Your mother owes $10,000 on her mortgage and the fair market value is $100,000. Gmac successfully forecloses on her mortgage note and buys the house at the foreclosure auction for $15,000. The $5,000 extra goes for expenses associate with the cost of bringing the foreclosure action Therefore, your mother get nothing from the sale (she might even owe GMAC some money.) GMAC then turns around and sells the property for the fair market value of $100,000. GMAC makes out, like the bandit that it is, with a profit of $85,000.00. Bye bye mom's home. Bye bye mom's biggest investment. Bye bye Tom's inheritance. Maybe, Ann from Middletown, Maryland report, How to Fight GMAC and Win, might be useful. She said, ?Again - if you are looking for help, CONTACT YOUR STATE DEPARTMENT OF FINANCIAL REGULATION - they can keep records of complaints and believe me, they know how to get the job done!!? I've posted suggestions on how to do legal battle with GMAC on other rip off reports that also might be helpful. Let us know how you're doing. Good luck and God bless and Bye bye
Virginia
Miami Springs,#3Consumer Suggestion
Tue, July 11, 2006
Hi Tom, Consider this to be your very own personal wake up call. Tom, WAKE UP! GMAC is NOT going to stop the foreclosure procedure. It will not do anything but string you along until it gets you into court and with it slick talking lawyers rob your mother of her home and you of your inheritance. GMAC sees your mother's home as the proverbial ?cash cow.? After 28 years she undoubtedly has significant equity in her house, this equity is what GMAC is after. Your story reads like a ?ditto? because it is one. Gmac targets those of us who have a large amount of equity in our home. Save the $500 Gmac is trying to extort from you. Better you should use it as a retainer fee for a good real estate lawyer. Let's do a little hypothetical math here: Your mother owes $10,000 on her mortgage and the fair market value is $100,000. Gmac successfully forecloses on her mortgage note and buys the house at the foreclosure auction for $15,000. The $5,000 extra goes for expenses associate with the cost of bringing the foreclosure action Therefore, your mother get nothing from the sale (she might even owe GMAC some money.) GMAC then turns around and sells the property for the fair market value of $100,000. GMAC makes out, like the bandit that it is, with a profit of $85,000.00. Bye bye mom's home. Bye bye mom's biggest investment. Bye bye Tom's inheritance. Maybe, Ann from Middletown, Maryland report, How to Fight GMAC and Win, might be useful. She said, ?Again - if you are looking for help, CONTACT YOUR STATE DEPARTMENT OF FINANCIAL REGULATION - they can keep records of complaints and believe me, they know how to get the job done!!? I've posted suggestions on how to do legal battle with GMAC on other rip off reports that also might be helpful. Let us know how you're doing. Good luck and God bless and Bye bye
Virginia
Miami Springs,#4Consumer Suggestion
Tue, July 11, 2006
Hi Tom, Consider this to be your very own personal wake up call. Tom, WAKE UP! GMAC is NOT going to stop the foreclosure procedure. It will not do anything but string you along until it gets you into court and with it slick talking lawyers rob your mother of her home and you of your inheritance. GMAC sees your mother's home as the proverbial ?cash cow.? After 28 years she undoubtedly has significant equity in her house, this equity is what GMAC is after. Your story reads like a ?ditto? because it is one. Gmac targets those of us who have a large amount of equity in our home. Save the $500 Gmac is trying to extort from you. Better you should use it as a retainer fee for a good real estate lawyer. Let's do a little hypothetical math here: Your mother owes $10,000 on her mortgage and the fair market value is $100,000. Gmac successfully forecloses on her mortgage note and buys the house at the foreclosure auction for $15,000. The $5,000 extra goes for expenses associate with the cost of bringing the foreclosure action Therefore, your mother get nothing from the sale (she might even owe GMAC some money.) GMAC then turns around and sells the property for the fair market value of $100,000. GMAC makes out, like the bandit that it is, with a profit of $85,000.00. Bye bye mom's home. Bye bye mom's biggest investment. Bye bye Tom's inheritance. Maybe, Ann from Middletown, Maryland report, How to Fight GMAC and Win, might be useful. She said, ?Again - if you are looking for help, CONTACT YOUR STATE DEPARTMENT OF FINANCIAL REGULATION - they can keep records of complaints and believe me, they know how to get the job done!!? I've posted suggestions on how to do legal battle with GMAC on other rip off reports that also might be helpful. Let us know how you're doing. Good luck and God bless and Bye bye
Virginia
Miami Springs,#5Consumer Suggestion
Tue, July 11, 2006
Hi Tom, Consider this to be your very own personal wake up call. Tom, WAKE UP! GMAC is NOT going to stop the foreclosure procedure. It will not do anything but string you along until it gets you into court and with it slick talking lawyers rob your mother of her home and you of your inheritance. GMAC sees your mother's home as the proverbial ?cash cow.? After 28 years she undoubtedly has significant equity in her house, this equity is what GMAC is after. Your story reads like a ?ditto? because it is one. Gmac targets those of us who have a large amount of equity in our home. Save the $500 Gmac is trying to extort from you. Better you should use it as a retainer fee for a good real estate lawyer. Let's do a little hypothetical math here: Your mother owes $10,000 on her mortgage and the fair market value is $100,000. Gmac successfully forecloses on her mortgage note and buys the house at the foreclosure auction for $15,000. The $5,000 extra goes for expenses associate with the cost of bringing the foreclosure action Therefore, your mother get nothing from the sale (she might even owe GMAC some money.) GMAC then turns around and sells the property for the fair market value of $100,000. GMAC makes out, like the bandit that it is, with a profit of $85,000.00. Bye bye mom's home. Bye bye mom's biggest investment. Bye bye Tom's inheritance. Maybe, Ann from Middletown, Maryland report, How to Fight GMAC and Win, might be useful. She said, ?Again - if you are looking for help, CONTACT YOUR STATE DEPARTMENT OF FINANCIAL REGULATION - they can keep records of complaints and believe me, they know how to get the job done!!? I've posted suggestions on how to do legal battle with GMAC on other rip off reports that also might be helpful. Let us know how you're doing. Good luck and God bless and Bye bye