GMAC is the most incompetent loan company in America! Their insurance department does not talk to their mortgage department, who does not talk to their taxes department, who doesn't talk to their foreclosure department, who doesn't talk to their 'special promotions' department. I have loans with several mortgage companies. All are paid automatically, electronically, every month, without fail, on time, every time. All of them are simple matters, except for GMAC.
GMAC requests proof of insurance. This was provided six (I'm not kidding, six!) times. Since they can't find the proof, they impound the mortgage payment. Eventually someone in insurance goes through their inbox and posts the proof. The insurance department takes a few weeks to let the mortgage side know.in the mean time, they start foreclosure proceedings. And, their automatic phone harassment system goes into high gear. I get daily calls saying my loan is in default.
Then the letters start coming. I'm in default. Letters show that my credit rating is lowered for late payments. Then, just to sweeten the experience, I get phone calls asking if I want 'appliance protection' for only $60 a month. I have spent over 30 hours on phone calls, leaving messages, sending them their own acknowledgments that I have never missed a payment, and that the property is insured. Still, they can't fix this. And, they're adding late fees.
Now get this: Their mortgage people refuse to do a conference call with their own insurance department.
So, this batch of incompetents is destroying my credit, fining me, mis applying payments and foreclosing.
I encourage everyone to avoid GMAC at all costs. This is as incompetent a company as exists in America today.
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