After paying down my mortage to 80% of the purchase price, I thought my PMI payments would be eliminated based on the letter GMAC had sent to me. It wasn't until after I saw they did not disappear I called and found out I needed to submit the proper form for the PMI to go away. They assured me that once the correct documents were received, the PMI fees would be refunded to me. Being skeptical, I asked for their name and employee number and recorded the time and date of the call.
After seeing another month's PMI fees slapped onto my mortgage payment, I called again, now to find out I needed to have my house re-appraised to show the value was not less than the purchase price. Then they had a problem with my appraiser's license and they said they could not accept my appraisal so I got hit with another month's worth of PMI fees. I called and corrected the problem, which was not my fault or the appraiser's, and voiced my anger at having another PMI payment. This time I asked to speak to a manager and they also assured me that I would get a full refund once all this was settled. I recorded the name, employee number, and time and date of call.
Everything finally got settled, but no refunded PMI fees. I called and kept asking for each operator's supervisor until I was told that the next manager up would have to call me back because they are not readily available. Well this manager tells me that is not GMAC policy to refund PMI payments after the fact and the people I talked to must have given me the wrong information. I told her I had each operator and the time and date of each call so they could go back and listen (since the first thing you hear is these calls are recorded for quality purposes). Apparently this is not the case as she told me there was no way to go back and listen to them.
So basically the GMAC operators will say whatever it takes to get you off the phone, but then there is no way to hold them to what they say to you.
I was left feeling completely helpless and screwed.
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