Feb 05 GMAC acquired our 1st Mortgage from our original lender. The original lender advised us to send the Feb payment to them. They would forward to GMAC with docs. Feb came and went. We sent our Mar payment - which GMAC applied to the Feb payment. We called GMAC advised the Feb payment was received by previous lender and would be forward. We were advised no problem. Will apply it once it is received, but to keep sending our payments. Mar came and went. We sent our April payment. But this time we could see on the statement that the Feb payment was finally received and applied to the escrow account. Again this April payment applied to Mar payment. Late fee assessed.
We called again. Advised by GMAC that this would be corrected and late fees credited. Again that there was no issue. Continue to send payments. April came and went. We sent our May payment which was applied to the April payment.
Late fee assessed. We called again. Advised by GMAC that this would be corrected and late fees credited. When asked why this was not corrected as promised the prior month, GMAC offered no explanation, not even an appology.
May came and went. We sent our June Payment. This time we sent the amount that the statement advised due to all the credits and "things working themselves out" By golly - we get a call from GMAC to tell us they are not accepting our June payment as it is short.
Unbelievable. We went into the entire story. GMAC advised payment would be applied and late fees credited. They would pull the amount from the escrow account (this is something that was promised for several months now).
June came and went. We send our July payment. Again.By golly we get another call from GMAC. We figure things are turning aroung with their customer service.
BOY WERE WE WRONG. They were calling to let us know that our mortgage account was going up for FORECLOSURE review on 7/22/05 and wanted to know if we wanted to make a last stitch effort to settle.
I CAME UNGLUED. Could not beleive it. We have a credit score of 760. Never in my life have I had a conversation like this. I sternly explained the entire story AGAIN. No appologies. Nothing. They transferred me to the Customer Care group who said they would remove me name from that list and I should not be called again. That she would clear up our account once and for all.
I advised this was the last straw for me. GMAC bought the rights to service my loan which they have not done so. I have made several honest attempts to let them resolve this, with no success. I advised I would be refinancing as I could not chase something as important as my mortgage monthly.
We proceeded to refinance and to top all things off, GMAC is charging over $3k for a prepayment penalty. We could not beleive it. After all that we endured, all the chances that we gave them to make it right, prior to deciding the only way to take control of this situation was to refi. My calls made it all the way to their executive offices, with not even an apology. No one even offered to make things right for us in order to keep the loan.
GMAC just did not give a damn; quite a shame.
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