Frustrated with the GMAC song & dance

[~Jess~]

So I've commented on a lot of different posts here but maybe it's time to start my own.

I'm not as bad off as some here, as I owe $258k on my house that is worth approx $180k.

Here is the breakdown of my experience with GMAC:

3/4/09--requested a workout package

3/17/09--faxed all requested docs and held onto the fax confirmation showing it went thru.

4/3/09--Called and verified that all info was received. Told I'd have an answer by 4/12/09. ( I laugh about this now, lol )

4/13/09--Called back to check status. Told that income info was scanned into their system blurry upon receipt and that form 4506-T & taxes were missed. I told them I had fax confirmation that they were received and I'd previously been told that they had a complete package, but I re-faxed the info anyway.

4/27/09--Confirmed that the complete package was received, and that income documents had faxed in clear this time. Advised that the 30-day wait has restarted.

5/1/09--Got paid, and faxed in the paystub even though it wasn't requested.

5/15/09--Received notification that additional paystub and taxes are missing once again. Now, the financial statement is also missing. Funny they seemed to have it the first time around??? Called rep and was told that signature was also missing on our taxes. Apparently the federal gov't was okay with the missing signature, but GMAC isn't. Okay, so I'm sick of faxing and re-faxing and rep tells me to UPS a new full complete package with signature confirmation. I'm told if I do this, they can no longer tell me that my documents haven't been received. I photocopy everything, keep copies for myself, and UPS all the original documents.

5/18/09--UPS package received and signed for at GMAC loss mit office. Have tracking # & electronic signature verification as proof.

6/8/09--receive denial letter in the mail due to missing information. Called and spoke to a rep who said UPS package hadn't been entered in yet, but she reviewed all info and said that all necessary info was in the system and she didn't know why they kept telling me they were missing info. She re-opened my case, spoke with her team leader, and expedited my file.

6/16/09--called again. Verified they had all necessary info and that my file is "in process of review." I assume they've received my UPS package by now.

6/23/09--Once again, called and verified all info was received and file still "in process."

7/2/09--Still in process, told to call back on Monday 7/6/09 to check status.

7/3/09--faxed in July paystubs.

7/8/09--Verified new paystubs were received. Told file was still "in process."

7/15/09--called to check status. Told missing info including recent paystubs!!!!!!! Informed them that 1.) I'd called numerous times and verified that all info had been received. 2.) Had her check to make sure my new paystubs were in there--they were! 3.) Informed her that I had a UPS tracking # with signature verification that my documents had been received and signed for 60 days earlier. She requested the tracking info and looked it up. She verified the name of the person who signed and assured me that they would track down that missing package and expedite the file since it had been 60 days since it was received.

7/20/09--Called and was informed that they were unable to locate the UPS package. It didn't matter that I had confirmation of receipt or that I'd spent $30 and a lot of time preparing & sending the package. I was told that BPO was completed, credit had been pulled, and since we already have an impound account for our taxes & insurance, it shouldn't take long to process, but they need me to re-fax a full complete package "just in case." They again re-opened the file as it had been closed again!!!! Re-faxed all info and have the confirmation form that it was received--not that that matters.

Now, we wait AGAIN. I'm sure 2 months from now I'll be told something is missing once again.

[~Jess~]

Oh, and our payment is currently 42% of gross income. Our hardship is: We've had pay cut by 15%, had our 3rd child last Aug, and our oldest was diagnosed with autism last fall & treatments aren't covered by insurance.

[Moe Bedard]

Hey Jess!

Wow, you have had quite the run around with GMAC and the typical paperwork shuffle. Your record keeping is impeccable and goes to show that this really does happen and this is the norm, not a rarity.

You are probaly right, but at least you are prepared for the worst mentally and you know from your experience here that it will take the same follow through you did above to get this finished. I think that is more than 75% the battle, the next is just going through the motions and keeping on this like white on rice.

Please keep us posted and I wish you luck!

[osfan]

As Jess can verify, my experience with GMAC is identical. Wonder when the first lawsuits are going to start happening?

Jess, have you tried contacting the "executive office" I posted about yesterday?

Brian

[osfan]

how can GMAC take millions (billions?) in bail out money to help themselves for being in trouble, yet when it comes to their customers, they could care less to help them? the government developed a clear set of rules for MHAP, their excuses saying they are difficult to implement blow my mind. hopefully this august 4th when they publish stats on MHAP gives GMAC a black eye and turns the heat up on them.

[johnandshan]

oh my..I cringed when I read your post because mine is almost exactly the same..My package was sent in may 3rd this year..I was told yesterday it was in Management review(whatever that means)..the whole process is quite identical to what has happened to you, I was even told that they needed new paystubs because the ones I gave them werent legible ( I mailed the damn things how can they not read them)..stressed out to my limit, and am ready to give up..I just dont what else to do either..Jess I do hope things change for the better because i know exactly whats happening to you..

[~Jess~]

7/24/09--called and verified that info was received. Told that package was complete and that it would be approx 60 days until I'd hear back. I told them the background story and that the last person I'd spoke with said to have the team leader send to loss mit ASAP. Was told that wasn't possible. Asked to speak directly to team leader, given a hard time about that but was eventually transferred. Team leader said she would sent it to loss mit today and that it should only take 1-2 weeks for them to run the numbers since BPO & credit was already done. I'm skeptical, but not giving up yet....

[johnandshan]

dont give up just yet..sounds like your getting closer to a resolution..about an hour after my post here I called Gmac ( now that they took my loan over from Homecomings) I went through the typical BS for the first 5 minutes of calling there, I was told that there was a forbearence letter sent and I was on a 3 month trial period which starts sept. 1st..my 1st mortgage was lowered 900.00 for this period and then in December my loan modification will be activated..After almost 5 months theres finally progress here...so dont give up Jess

[conbon70]

I sent my paperwork in on 7/7 and today received a letter in the mail from GMAC letting me know that I was denied due to insufficient income. Totally depressed!! I cant believe that cannot help us at all. if they would just give me a chance with a lower payment I can make it work...but no chance they suggest I sell my home...unbelievable!!

[~Jess~]

O.M.G. I just got the call. We've been APPROVED for the trial mod. Our payment is going from $2425 to $1857 with the first trial payment due on Sept 1st! Keep with it, guys, and stay vigilant!

[osfan]

Jess, give us more info! did they make your payment exactly 31% of your income? Did they explain what your interest rate was reduced too? How did the call come, was it a voicemail? GMAC told me I would just receive a fedex package at the house one day (still waiting for it!). did they increase the mortgage years? balloon payment? does it clearly state it is the MHAP??

Congrats! I looked at your dates from above and my dates are identical to yours, except I started a month behind, but from there, we have had the same process it seems...

[buz2004]

OK LOOK AT THIS!YouTube - Foreclosure Rebellion

[~Jess~]

Originally Posted by osfan

Jess, give us more info! did they make your payment exactly 31% of your income? Did they explain what your interest rate was reduced too? How did the call come, was it a voicemail? GMAC told me I would just receive a fedex package at the house one day (still waiting for it!). did they increase the mortgage years? balloon payment? does it clearly state it is the MHAP??

Congrats! I looked at your dates from above and my dates are identical to yours, except I started a month behind, but from there, we have had the same process it seems...

The package I received doesn't break down exactly how they intend to restructure my loan. It simply lays out the trial period guidelines, with the new payment at $1857.96, which is very close to 31% of our income (my income varies since I'm a substitute teacher, but it's close).

I, too, am very curious as to how they are going to restructure the loan to accommodate the new payment. They will definitely have to extend the term as well as lowering the rate.

The call came from a real live person who told me to expect the fedex package within the next couple of days. He told me the new payment amount, and that I'd have to send in a certified cashiers check for each payment, etc etc. The fedex package arrived the next day! We had to sign the paperwork, send in a lot of the paperwork all over again (financial hardship affidavit, paystubs, & taxes), along with the first trial payment. We fedex-ed it all back on Wed, delivery was confirmed on Thurs.

We'll see what happens. Fingers are crossed!

[osfan]

Jess, thanks for taking time for updating us. Again congrats, and hopefully I have a very similar story to post soon. I am starting to call them every week again because it really is starting to age (100 days +). Each time they say they have marked it as "urgent" and to keep calling once a week. I have been a a forebearance plan for 4 months now and have paid 31% of my income, I hope that shows them already I am serious... I am coming up on my 5th payment at 31%... just do the mod already!

THANKS and congrats again. I was shocked when the MHAP results came out last week and GMAC is actually doing the best among most servicers...