Mr. James Redd, Ferndale, PA, GMAC stated if I paid more then 20% down I could pay my own taxes. Very important to me. I provided more then 20% down. Everyone involved, including attorney I hired, knew this. At closing the interest rate was wrong and the contract was wrong. The attorney, Debra Forman esq had been involved with the mortgage with the Horsham office. She told me they would fix the mistake. We closed. The only thing they changed was the interest. I have been struggling to pay over $1000 each month by the 15th, something Mr. Redd knew I could not do. I pay the entire mortgage, with a fee for paying after the 15th every month. I am listed on my credit report as always paying late — so I pay them money to give me bad credit! They changed my Escrow alright — they increased it. Then, when I did not send the $35 more, they said I was late. When I called they said I could not pay my own taxes because I paid late once. I don't know what is going on there but it seems to me that they have delibertly set me up so that they get much more money from me and know I could not afford that mortgage. I am going to a HUD office to see what I can do since I have been Unemployed for months and I still pay them. They have lots of my money but I can't refinance because I paid late! I pay 7.2% interest and can't refinance! It is a nightmare. And, I was charged twice for my application fee and GMAC has not returned the overcharge of $325. Be aware: think twice about mortgage from Jim Redd or from GMAC.
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