GMAC is claiming that they sent my January billing in the same envelope as my 2008's 1098 form -which they did not. I have the 1098, but no billing. As a result I missed the $100 monthly payment on my $20,000 line of credit. They did not sent me a late notice or any other warning, they simpily immediatly cancelled my total line of credit (and will probably now try to increase the interest rate on the remaining $5,000 balance).
What a ripoff. I have very substantial equilty in my home (15% loan to value), never missed a payment since inception of both my1st of 2nd TD's many years ago. I always paid more than the amout billed (on both the 1st and 2nds (with GMAC/Ditech)... And because they failed to mail me my monthly statement, as they have done for years, my credit is dinged and I will have to pay more loan fees to get another line of credit for emergency situations.
In my opinion, GMAC did this on purpose to get out of their loan liabiltiy to me. Its simple racketeering on the part of a big bank. Is anyone else having this issue with GMAC or Ditech?
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