Watch GMAC Mortgage very carefully!
Written: Jan 31 '06
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Pros: The customer service staff can handle pretty tough attitudes.
Cons: GMAC Mortgage will not change your automatic payment. Also, the website information may be outdated.
The Bottom Line: The rates are pretty good, but GMAC must be watched. Check your online statements against your bank account, and make any corrected payments by check with a letter.
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| brendap1's Full Review: GMAC Mortgage |
I opened a mortgage with Quicken Loans in February of 2004. In October of 2004, they sold the loan to GMAC. Everything went relatively well at first. The website requires a bit more clicking around than I like, but now that I am a neophyte webmaster, I understand!
Customer service is uniformly professional. And since GMAC made a mess of my mortgage payment in December, that was very important. In December, the amount of my escrow changed due to state taxes. I am admittedly spoiled; I have had other mortgages with lenders that would automatically change my payment amount before sending through the next month's automatic payment from my bank account. GMAC did send a letter, which reached me before the county (good!), telling me that the escrow amount would change. Great. Nothing in the letter, however, told me that I had to log into the account online and change the amount of my payment. Since they were the ones who set up the auto-payment, I assumed, erroneously, that they would change the payment amount. I found out I was wrong when I got a call from the collection arm of the company, looking for a little over $20. I wish I knew the name of the person that I dealt with, because I put him took him through the wringer, and as said, he was extremely professional. Logging in, I could not verify what he was telling me because only the last statement was available to me. The information on the first account page did not show an overdue amount, but did show the next payment amount, which was larger than the one billed for hte previous month. By the end of the call, I had set up a payment on the website for the missing amount, and changed my monthly payment to include a tiny little amount for payment on the principal (this is an interest-only loan).
On January 31, I received a call from the collections department that I missed. After running another one of their people through her paces, I found out that the extra payment that I sent in December was applied to my escrow, not to the errant payment! In addition, the young lady apparently could not judge my increasingly annoyed mood after she had put me on hold to research my initial question ("Why are you people calling me?"). One of her questions ("Why are you paying more than what is due?") actually worried me enough that I will check the account again several times over the next few payments to make sure everything is put into the correct portions of the account. Normally, I look at the statement; now I will look a few days after the payment is made. I requested a snail mail letter as proof of the changes, which she is apparently making immediately (the call ended 10 minutes ago). I will also carefully watch the account online, which is the other problem.
I have found that there is a lag in the display of transactions and changes made to the account. The last time that I noticed was about 6 months ago, when I changed my telephone numbers. The change did not show up online for 24 hours. Payments may not show up for 24 hours as well. I am hoping that this issue has been resolved, and that I am pleasantly surprised.
Recommended:
Yes
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Epinions.com ID:
brendap1
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Reviews written: 15
Trusted by: 0 members
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