2 years ago my husbands company transferred us from Kansas to California. We couldn't sell our house which was secured by a VA loan. After 6 months of making mortgage and rent payments I contacted GMAC to see if they would work with us on a solution. I was told until the house went in to foreclosure there was nothing they could do. I was preplexed. I didnt' want to take a massive hit to our credit report. I contacted the VA. At this point we were not behind on payments. I told a worker at the VA what was happening. We discussed possible solutions. He suggested a deed in lieu of. We contacted teh holder of our second mortgage - Ditech - a subsidiary of GMAC. THey agreed to settle for pennies on the dollar and closed the second mortgage. GMAC was still dragging their feet. Finally in August we got the deed in lieu of. Signed and returned to GMAC attorney. The county where we used to live shows the property in the hands of VA.
Last week, we got a deliquent tax notice from GMAC and I just chalked it up to a computer error. Then a couple days later we got a bill for almost 30,000 from GMAC. I called GMAC and they claimed that the VA retracted the deed in lieu of and that we were responsible for the past mortgage. I called VA and they said they never did any such thing. They show we finalized this in August. They called GMAC and GMAC is "researching" it. I pulled our credit report and the account shows open - past due - amount owing 15,000 - foreclosure pending. We have been told by VA that it could take several months to figure this mess out but it appears to the VA thaqt GMAC never conveyed the property to them. (what ever that means)
So here we sit with what was to be an aging black eye on our credit report, that is now very wrong. A bill for 30,000 that they are threatening to turn over to a collection agency and no clue as to where to go next. I think under the FCRA they are in violation of several things.
A couple months ago we were denied a car loan at the time we chalked it up to several other things but now we suspect it was because we were 15,000 on a debt we don't have.
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