I am one of those people whom have a 2 year arm loan, that was due to reset in Jan. Of 2008.in October I began contacting gmac in order to re modify my loan to prevent any credit problems and late payments.
I was met with the rudest people I have ever done business with and the longest run around ever created. I've done everything they have asked of me (more than once). When I finally reached my breaking point 7 months into it, I threatened to go to the media and the BBB. Within 10 minutes they had the requirements they needed to re modify me.
They said that any debt that I had acquired would be put on the back of the loan and that I would start out with a $0. Balance. So I waited for my first bill and it had a remaining balance on it for about $460., when I asked them why there was a balance they replied "it was because the re modification took so long." How is that my fault? To boot they charged me, yes you guessed it, $10,000.
I've never in my life seen a company that does business like that and remains. Something needs to be done. Anyone interested in filing suit against this company or knows of a suit I may be able to join please contact me. I have kept good records of the correspondences.
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