• Report: #889785

Complaint Review: GMAC

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  • Submitted: Tue, May 29, 2012
  • Updated: Thu, May 31, 2012

  • Reported By: runaround — Maynard Minnesota United States of America
GMAC
P.O. Box 4622 Waterloo, Iowa United States of America

GMAC GMAC Mortgage Double Insuring Property! Waterloo, Iowa

*Consumer Comment: classaction suits

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When we switched home insurance companies in July of 2011, GMAC was listed as the Mortgage Holder on the insurance policy.  Within 3 weeks we received a letter from GMAC stating that they were notified that our insurance was cancelled & would be putting coverage on the property themselves.
We immediately notified our new insurance company and they faxed a copy of the policy to GMAC.  

A few weeks later we get another notice that GMAC will place insurance on the property.  We not only mailed them a copy of the policy, we had our agent fax it yet again.  This has been going on for 9 months now!  They are charging us $120 a month to insure a property that is already insured & that's illegal!

They've received the copy of our policy showing them as the mortgage holder 8 times since this all started and still claim they don't have it.  I am so done with this company!

This report was posted on Ripoff Report on 05/29/2012 08:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/GMAC/Waterloo-Iowa-50704-462/GMAC-GMAC-Mortgage-Double-Insuring-Property-Waterloo-Iowa-889785. 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

classaction suits

AUTHOR: Daniel - (U.S.A.)

there are two classaction lawsuits out already for this very same thing, this is what gmac does through their outsourced sub servicing agents , call them and ask for the insurance service center they will anwser gmac, then ask who are you really i bet they anwser balboa keep asking untill they tell you . do a search on the lawsuits and contact the attorneys they will love hearing from you.
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