GMAC Reviews

I'm just a simple homeowner forced to carry FEMA flood insurance. Ok fine, the price you pay for living next to a river that hasn't flooded since 1952 (2yrs before the house was built). So I purchased the insurance for my $140,000 home,with a coverage value at $181,000. This year GMAC (2nd mortgage holder of less than $15,000) demanded that I raise the coverage to $215,000. Fusterated because of the extra $156 a year, I raise it. My 1st mortgage pays the bill the begining of October, and I'm good until Oct 2012... or not. Now GMAC is demanding that I raise it again to $224,000 a mear 5 weeks after the 1st demand and After it's been paid. Worse they can offer NO Explaination for it, only that it's on your file and if you don't buy it we will at a higher cost of ~$36 a month (likely 8 times what the actual price increase will be).

Every year for 6 years now I've had to fax them a copy of the declarations page (or make calls to get another one faxed), cause the first one the insurance company faxed is missing (I verified with the insurance company that their sending it to GMAC). Then I have to call them and make sure they got it, to avoid them buying the insurance.

Now that they've got me mad enough to write this, I'm going to tell you what happened awhile back. You know how they say to make extra payments to lower interest paid etc... If you do that with this company through their website, be carefull. I made a payment that was roughly equal to 5 months of payments (current due $600). Did they apply the extra to the balance like the checked box said? Nope. What I got in the mail a couple weeks later was a statement for my next payment, but it wasn't due for 4 months. Looking at the statement they made 4 seperate advanced payments to my account, charging me the interest for each month as if they were normal payments. So I gained nothing. They did correct it, but required dealing with that stupid phone menu system before I could actually talk to someone. To their credit, they did say it's a known (to them only) problem with online payments. They instructed me to make the standard payment one day, and the extra payment after the 1st was processed (atleast 1 day later) for it to applied properly. I guess that's easier than fixing their website...

I'm done with them, I'll look for a loan to replace theirs, and avoid them for the rest of my life. If you go with them, I wish you the best of luck.

I have worked with eight mortgage companies and GMAC has to be the most disorganized and ineffective one to date. I recently refinanced my primary residence and unfortunately, GMAC bought the mortgage. They misplace correspondences and have an outdated communication system. I think after 8 months, there are no more issues that this inept company can devise.

GMAC used to be a good company to work with. We've financed with them twice in the past and applied several months ago to get a better rate. At first things went relatively smoothly with only a couple of communications about not being able to find paperwork that had already been provided by pdf emails. The appraiser did not seem to know about commonly used building materials (had to ask what counter tops were made of: "granite") and made errors on the appraisal report including the incorrect number of rooms. The appraisal appeal came back with a "value unchanged" comment, but no comments on why any of the provided comps were not considered appropriate. The worst part of the experience is that phone calls and email communications were not answered in a timely manner. Even though I had been told that I would receive an answer in "several days," I did not hear anything from anyone for 5 weeks and then when I finally got through to a person I was told they would look into it and get back to me. It took another 5 emails and 4 days to speak to a real person. When I requested a copy of the company's lending criteria under a particular program noted on the website, I was told "it is not available for customers." I used to think that people who lost their homes because they could never get the process of refinancing completed were making up stories, but based my customer service experience with GMAC I can definitely see how it can happen. I used to really like GMAC and actually referred friends to them. Now I'd say to stay away unless you want to waste time and money.

My Step dad had bought his house years ago when it was first built. A few years back he got into some financial trouble. GMAC came to the house to discuss mortgaging the house. My step dad was 79 used a walker and hard of hearing. GMAC gave him a 375,000.00 mortgage on a house that is suppose to be only 225,000.00 but needs a lot of repair. In July of 2010 the sewer line under the foundation of the house broke, my mom had to come up with the cash to have it fixed because it was seeping up through the family room floor. She got behind on the mortgage payment (which when she does pay the balance never goes down). In September my step dad passed away and my mom tried the process of remodification. Every time she called David from GMAC located in Texas, he kept telling her he could not discuss the house with her because her name was not on the note and that she need to go to probate court. She kept telling him that she did sign the loan. My step dad did not have a will or trust, my moms name is on the deed and also all over the loan papers. Another GMAC Company from Iowa sent her some modification papers that she filled out and returned. So here she is dealing with two different states. She got a notice about two weeks ago hung on the front door that they are selling her house on the 27th of this month (June). I got involved and I faxed over to both states the deed with her name on it and also the loan papers with her signature. David still refuses to speak to her. Iowa sent her a letter she received on Saturday that says the loan modification is denied, Reason given she doesn't live at the property and she doesn't make enough to cover the original loan. I don't know where they get the idea she doesn't live at this property, I am now living here with her. What kind of person gives an elderly man an outrageous mortgage like that, people who know he isn't going to live much longer and just want to sell this house and than get a write off on the property. For months this company has lied to my mom. Everyone we have spoken with has told us she doesn't need to go to court since my step dad had no will or trust and her name is on everything. My mom may have given up, but I have two business days left before the sell of this house and I am going to be calling our local news investigative reporter tomorrow and hopefully he can help save this house for her.

I have been dealing with this company for four years and in those four years they have lot every piece of important documentation that I have either, mailed or faxed to them.I am surprised how they have managed to stay a float. I see they have been bought out by another corporation. I hope this new organization will be as responsible as a respected corporation should be.It has been pure hell dealing with this company and find that in the mist of all that is going on in this economy. We can begin to have the initiative in trying to help us keep our home instead of trying to rip it from us.Luckily, I make sure to call constantly to make sure my information is received.I googled the search today to see if I was the only person to have gone through this and when I read the reviews I have gone through the same.

We are long-term, always on time customers. I have never had any problem with them in the past. We have always been great customers. I told them I need them to change our monthly mortgage due date because of a huge change in our finances. The said the CAN'T do it. They would however, let me refinance at a higher rate than I have now and maybe I could get the date changed then, but no guarantee. THESE GUYS SUCK !!!!!!! Get your mortgage from a company that wants to help you BEFORE you wind up with a financial mess. I guess they will only help us if we stop paying our mortgage. If you're trying to the the right thing, GMAC isn't the right company for you. Find a company that actually cares about customer service.

If your loan is sold to GMAC good luck. Worse people you will ever deal with. They are very argumentative, unprofessional, cannot speak good English and hard to understand. These people and I have talked to several only want to run the conversation and do not want to hear what you have to say. Every person that you talk to will have to have you account number, last four of your ssn then have to verify all of your info on the form. If you speak to ten of them this will take place with everyone of them. Such ugly people to deal with and they want to see if you keep up with your payments, if you don't you will be hit with default payment. These people should not even be in business.

I have been documenting my experience as a 52 year old Slidell, Louisiana woman who is disabled and trying to acquire assistance with housing with an eviction looming from GMAC Mortgage.

My husband and I taped an interview with "Action Reporter" Bill Capo, from WWL-TV Channel 4 (New Orleans). On Thursday, June 16th, 2010, this feature aired on the 10:00 p.m. news. This whole interview took about 3 hours to complete. I was able to tell my story in its entirety to Mr. Capo and he was ready with all the right questions. Of course, it was edited and much of our lengthy interview was omitted due to the constrictions of television. The edited result can be viewed on line at the WWL-TV web site under "Action Reports".

Our foreclosure took place on April 28, 2010, right after we celebrated our 8th wedding anniversary. Now we await the forthcoming eviction notice from GMAC Morgage...any day now.

I began my research after the sheriff came to our door in January of this year with a foreclosure notice from our mortgage company, GMAC. Since then, my efforts are continuing to learn about my options as a disabled individual and trying to find programs that could save our home. We knew there were programs out there, and we trusted GMAC to submit us to any programs that may assist us in keeping our home.

We provided our income information to them as soon as the foreclosure process began. The sale of our home was set for April 28th, 2010. On the 27th, GMAC informed us they needed more information. My husband scrambled around to fulfill their request, faxed 9 pages to GMAC, and then called to confirm that GMAC had received the information.

The next day, we were told that we were "denied" by everyone and we lost our home. I was a little suspicious, as they certainly didn't have enough time (literally overnight) to submit us anywhere. I have repeatedly asked for the documentation of who they submitted us to and why we were denied, to no avail. One day, I got Mary on the phone from GMAC. She informed us that we were never submitted to anyone...so there was no denial! Conveniently, she did state that they had received the paperwork they requested, but it was dated the 29th--the day after the foreclosure! We knew that we provided this on the 27th.

The funny thing is, Mr. Capo spoke with the attorney representing our mortgage company, GMAC. She confirmed that our home had been foreclosed on and we will soon be evicted. Mr. Capo asked what will happen to our home, will it be put up for sale? Her answer shocked him--our home is becoming a HUD home! He has suggested to all parties involved that we be allowed to stay put and has now reached out to HUD about this situation. We'll see...

This email was sent to everyone in my address book, asking for my story to be forwarded to everyone they know. And it was sent to any federal, state and local government offices, and every organization that I could find that deals with advocacy, disability issues, and consumer affairs. I also contacted our local media, as well as newspapers, magazines, talk shows and news programs nationally.

At the age of 52 and disabled, I am facing homelessness. Thanks, GMAC.

I have been documenting my experience as a 52 year old Slidell, Louisiana woman who is disabled and trying to acquire assistance with housing with an eviction looming from GMAC Mortgage.

My husband and I taped an interview with "Action Reporter" Bill Capo, from WWL-TV Channel 4 (New Orleans). On Thursday, June 16th, 2010, this feature aired on the 10:00 p.m. news. This whole interview took about 3 hours to complete. I was able to tell my story in its entirety to Mr. Capo and he was ready with all the right questions. Of course, it was edited and much of our lengthy interview was omitted due to the constrictions of television. The edited result can be viewed on line at the WWL-TV web site under "Action Reports".

Our foreclosure took place on April 28, 2010, right after we celebrated our 8th wedding anniversary. Now we await the forthcoming eviction notice from GMAC Morgage...any day now.

I began my research after the sheriff came to our door in January of this year with a foreclosure notice from our mortgage company, GMAC. Since then, my efforts are continuing to learn about my options as a disabled individual and trying to find programs that could save our home. We knew there were programs out there, and we trusted GMAC to submit us to any programs that may assist us in keeping our home.

We provided our income information to them as soon as the foreclosure process began. The sale of our home was set for April 28th, 2010. On the 27th, GMAC informed us they needed more information. My husband scrambled around to fulfill their request, faxed 9 pages to GMAC, and then called to confirm that GMAC had received the information.

The next day, we were told that we were "denied" by everyone and we lost our home. I was a little suspicious, as they certainly didn't have enough time (literally overnight) to submit us anywhere. I have repeatedly asked for the documentation of who they submitted us to and why we were denied, to no avail. One day, I got Mary on the phone from GMAC. She informed us that we were never submitted to anyone...so there was no denial! Conveniently, she did state that they had received the paperwork they requested, but it was dated the 29th--the day after the foreclosure! We knew that we provided this on the 27th.

The funny thing is, Mr. Capo spoke with the attorney representing our mortgage company, GMAC. She confirmed that our home had been foreclosed on and we will soon be evicted. Mr. Capo asked what will happen to our home, will it be put up for sale? Her answer shocked him--our home is becoming a HUD home! He has suggested to all parties involved that we be allowed to stay put and has now reached out to HUD about this situation. We'll see...

This email was sent to everyone in my address book, asking for my story to be forwarded to everyone they know. And it was sent to any federal, state and local government offices, and every organization that I could find that deals with advocacy, disability issues, and consumer affairs. I also contacted our local media, as well as newspapers, magazines, talk shows and news programs nationally.

At the age of 52 and disabled, I am facing homelessness. Thanks, GMAC.

This company is the worst company that any individual could get involved with-if considering GMAC-dont!!! Run the other way, if you are sold to GMAc as we were-do whatever you can to refi. This company has done nothiong but give me the runaround(thats when I actually speak to a person-who I can understand) about my loan mod. my hours as well as my husband were cut-at the same time our mortgage payment went up sapposedly due to a shortage in our escrow-we immediantly faxed over all the documents thye needed for a loan mod. I was told they would contact me in 10days to let us know if they needed more info. I called nearly every day for 2weeks jst to chk up on it-they never said they needed anything else, jst that it was being reviewed. One day I called about 3 weeks after after everything was faxed-they said why havent you faxed over your bank statements? WHAT?!? they said they had everything, plus I never recieved a phone call saying they needed new info. They kept saying we needed to try and make our payment whilke the loan mod was being processed-we made one payment and now our not 30 behind on our mortgage (we will be)anyway they are now saying it will take 30 more dyas to hear anythign about the loan mod...plus....we all of a sudden dont qualify for immediate help because we did what they asked and made a payment-though we still owe 1600!!! they will not trnasfer me to loss mitigation, allow me to tlk to a manager, or tell me who my actual loan holder is!!! this company is trying to take my house-I believe nothing less. they are rude, ignorant, and completely fruadulant!! stay away from gmac!!!