Ripoff Report Needs Your Help!
Report: #183591

Complaint Review: GMAC - Homecomings Financial - Dallas Texas

  • Submitted:
  • Updated:
  • Reported By: Evergreen Colorado
  • Author Confirmed What's this?
  • Why?
  • GMAC - Homecomings Financial P. O. Box 890036 Dallas, Texas U.S.A.

GMAC - Homecomings Financial ripoff Dallas Texas

Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

I have a fixed rate loan with GMAC on a property owned as an investment. I have insurance and taxes escrowed. I have payments made automatically via my checking account. I didn't notice that the payment amount was different, due to a change in the "minimum escrow amount" required (unbeknownst to me!) by GMAC. I continued to pay the full PITI that I THOUGHT was due, but was not paying the minimum due to this "escrow shortage". The total amounted to about $6 per payment. There was NEVER a time when there were insufficient funds to pay the principal, interest, taxes, and insurance PLUS the mortgage insurance, but GMAC insisted that I was underpaying because the "minimum escrow balance" was too low (it was hundreds of dollars higher than what was required).

So, I have months of "delinquencies" reported on my credit report, and--here's the REAL kicker--my insurance carrier sent me a check for $100 because GMAC had OVERPAID the insurance. Now, my credit looks horrible, I can't get out of the mortgage insurance (even though the house appraises at $210K and the mortgage balance is only $136K), nor can I pay my OWN taxes and insurance (so I'd NEVER have to deal with this again!). So, I'm just going to refinance. I WILL NEVER, EVER DO BUSINESS WITH GMAC/HOMECOMINGS FINANCIAL EVER, EVER AGAIN. They have LOST a "customer for life!"

Evergreen, Colorado

This report was posted on Ripoff Report on 03/27/2006 07:50 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Featured Reports

Advertisers above have met our
strict standards for business conduct.

What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

Segment Now