Report: #607534

Complaint Review: GMAC Mortgage Corporation

Submitted: Wed, May 26, 2010
Updated: Wed, June 02, 2010

Reported By: Business owner — Graham Washington USA

GMAC Mortgage Corporation

GMAC, PO Box 4622, Internet United States of America

Phone: 800-766-4622
Web: www.gmacmortgage.com
Category: Government Corruption

GMAC Mortgage Corporation Refuses to terminate PMI despite Calls and Letters, Internet

Consumer Comment: NATIONWIDE MORTGAGE ALERT* General Motors is linked with the Federal Reserve.....

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GMAC Mortgage has continued to redistribute additional principal paid to my load to their terminated PMI despite letters and phone calls. They have re-routed monies put to principal, falsely stated that escrow amount in the same amount as PMI are due. By the way my loan has been down to 64% of the original loan - the cutoff is 79% where they have to end PMI when they are notified by the mortgagee or borrower. I have filed a complaint with my state Consumer Protection Agency and nothing is done. Just reporting a Scammer. Never get a loan with GMAC as they practice consumer fraud and abuse of their loan recipients.

This report was posted on Ripoff Report on 05/26/2010 12:04 PM and is a permanent record located here: http://www.ripoffreport.com/r/GMAC-Mortgage-Corporation/internet/GMAC-Mortgage-Corporation-Refuses-to-terminate-PMI-despite-Calls-and-Letters-Internet-607534. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

NATIONWIDE MORTGAGE ALERT General Motors is linked with the Federal Reserve.....

AUTHOR: Karl - (USA)

SUBMITTED: Wednesday, June 02, 2010

according to a site where the chart of ownership for the FED and 4 other related charts appear.

*Anyone can 'Google' this- WHO OWNS THE FED?, and go to the site with the chart of ownership and the related charts, correct? (GMAC is also linked with General Motors.)

I believe that Cerberus Capital Management also owns part of GMAC. (Do some research on who runs Cerberus, if you have a chance. I believe that they bought most of Chrysler Corp. a few years ago. Chrysler is also linked with the Federal Reserve.)

*****************************MORTGAGE ALERT******************************

*Make sure to read all of St. Clair's Ripoff Reports at the MERRILL LYNCH page of this site for valuable information if you have a mortgage.