We are in a loan modification with GMAC, on a 3 month trial basis so they said.
We have not missed a payment and they have been on time. We also have forced place insurance which we are alright with.
On March 3, we had damage done to our roof, we filed an insurance claim with Balboa Ins. Which held the policy. The work was completed which we paid for and we jumped through all the hoops and loops they asked for inspections and so forth. No problems there, the problem starts when they mailed the check to GMAC because they are the lien holder and it being forced place insurance.
We have completed all the paperwork again that GMAC has requested over and over to make sure each i was dotted and t crossed. Faxing papers each day to satisy them. Well as of today they still have not mailed the check to us and we are told each time we call (which is now everyday) that it will be 5-7 business days and that the check is wioth the management to be signed off on. The claim was sent to their expidite dept. On the 7th today Friday the 9th I was told the check would be Fed Ex and shoulod be recieved the 13th or 14 and to call the 12th (today) to get tracking number. Well no tracking num, ber the thing still is with management.
We used funds to repair this roof that was for other expenses (we should have never done this to start with) but the insurance would only cover the shingle damages not the wood damage. We couldn't do the shingles without replacing rotted wood. We should have just let the water start to leak throughout the house instead and not repair it right away, we assume that's what they wanted us to do now since they will not release this check.
We have been told so many different things by so many people that we don't think we are ever going to be reimbursed even though GMAC is sitting on the money. April 8th one of their reps even called us at 8:30 P.M. To assure us everything was fine and the check would be recieved the 13th or 14th but like I said when I called today they said another 5-7 business days.
There is not one person there that knows what is going on in that place. Each person gives you a different answer, date and timeline. Talking to a supervisor there is nonexisitent. We are giving them till tomorrow to have that check to us then we are notifing the state insurance board as to what has happened.
These funds do not belong to GMAC we pay the insurance with our payments even though they forced the policy, they did not pay to make the repairs we did. How can they sit and hold these funds?
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