To all concerned:
I recently had a horrific experience with my lender GMAC, the put my house into a foreclosure, due to non payment, it all started in July of this year when I received a letter from an attorneys office demanding that payment in full on my loan be received, I ripped up the letter just figuring it was just a scary note to get my June payment in which I did. I am a contractor and we don’t get paid weekly only when we finish the job and sometimes that takes weeks and months, and therefore cant always pay bill when due. so anyhow sent in July payment by money-order. I called to get more info on the letter , and when i punched in my account number it said that my account was in foreclosure and to contact the attorneys office, needless to say my heart almost stopped, I then finally got through to the foreclosure department and they said that they haven’t got any payments since March , I knew instantly that there was a mistake because I sent my payments with money orders and kept copies. in April i sent a combined money order for March and April to the prior servicer of this loan freemont investment, when i told GMAC this they told me to fax over the proof, which I did, I followed up with a phone call and they told me they would get a payment history that day. I called back the next day and asked if they received and now they said it would take a couple of weeks. i tried calling back a third time to see if I could call the prior lender and speed it up, only to be hung up on, nice way to treat your customers…I then decided to call the attorneys office handling the for closure, I was told by them that I should also fax them this proof, and to request a reinstatement figure, which I promptly asked her to do she said that it would take 7-10days to receive it and there was nothing i could do in the meantime, well three days later my wife called me hysterically crying that someone had served her papers at the house and she had two weeks to vacate the property, i knew immediately that was not true i know somewhat about due process, but nonetheless it scared the crap out of me, because it was now official public record, and on its way to foreclosure sale . well as you could imagine the next ten days where the worst of my life, and of course now the vultures start to circle , with there letters about helping you and they want to buy your house, all very disturbing nonetheless. well I finally got the reinstatement figures, not to my surprise they now only showed there being due June’s payment and of course they wanted July august and September, because they wouldn’t except my June payment it was sent back to me, this would of meant that my account was completely paid up. the letter from the attorneys office dated July 27th demanding payment in full meant that I was already in foreclosure. when in fact I only owed June.. but according to law and to note there must be a notice of default letter sent to me prior to this action asking me to correct my default and giving me thirty days to do so if in fact i only owed June how could I already be in foreclosure in July. needless to say we where never sent one. if we had this problem would of never of escalated. so how could they put me into foreclosure in July when they didn’t even follow the note stating this. I also have made this complaint to the new york state banking dept, they are following it up,, i also followed up with them my proof that I only owed June, by the reinstatement figures, also in the lawsuit they asked as a relief they they be able to share in any surplus money from sale of house, approximately200,000 dollars,, I guess there motive is getting clearer. also as per the not it states that the property of the note be the only address of any notifications unless different address is supplied to note-holder, so why then did they have to also try to serve papers at a relatives house in another county, they sure where able to make sure they got the summons served but weren’t able to get me a notice of default delivered to my address as per the reinstatement figures there was a charge for 900 dollars to process server i guess this is why they will deliver summons to anyone in the phone book with the same last name. I also have a sworn affidavit signed by the attorneys office stating that after giving full credit for any payments received there is principal and interest now due from April first. so either the attorney lied under oath or the mortgage company misled the attorneys office, I also have a bill for July clearly giving me credit for a April payment from GMAC, so I guess that this information must of gotten misplaced in the file to the attorneys office. also explain to me how a combined check payment for two months somehow only gets credit for one month where dis the other half of they check go. This all resulted in a very traumatic two months for me not to mention at a cost of 4700 in fees to get my loan reinstated, I do believe that there are way to many inconsistencies to conclude that this was anything other than an honest mistake by GMAC and if it was at least reimburse me for my 4700 dollars at the least. they bought this loan from freemont on 5/1 full well knowing the payment history, and they put it into foreclosure less than two months later. if there payment policies where so stringent why buy the loan in the first place. It is clearly an attempt by them to make a quick buck . or if the very least to give there attorney some bones, and at least recoup there money and make a better loan to someone else.
- John Ankner