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Graduate Management Admission Council [GMAC]
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Graduate Management Admission Council [GMAC]
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3.7 115 Reviews

Graduate Management Admission Council [GMAC] Complaints Summary

77 Resolved
38 Unresolved
Our verdict: With a good resolution rate, Graduate Management Admission Council [GMAC] generally handles customer issues well. However, it’s important to be proactive. Familiarize yourself with their processes and services. Reading through various customer experiences will provide valuable insights into how they handle complex issues.
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Graduate Management Admission Council [GMAC] reviews & complaints 115

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Graduate Management Admission Council [GMAC] forclosure?

I have never been late or missed a payment on my mortgage. In April of this year I filed the paperwork for a loan modification. This was denied almost immediately. I continued to pay my payment each month. Then in September I recieved a letter that they were going to put me on a "temporary" loan modification for 3 months. I paid the next 2 "new lower" payments on time and in full. Mid way thur November I recieved a notice of default. I have been getting the run around from them but the best I can figure is thet the "modification" department is not communicating with the mortgage department. As far as the mortgage dept is concerned, my payment has not been paid in full for 2 months. I have tried to talk to someone that knows their *ss from a hole in the ground, with no avial. I am now getting calls from the forclouser dept. I told them that I would make up the difference in the payments( remember that the mod dept gave me a lower payment). They told me that it was to late and they were starting the forclosuer process. My wife is going to have a stroke over this. I am going to fight until the day I die if I have to. I only did what they told me to do and now they are going to take my house because of their internal issues! BS!
We have to take a stand against there bone heads!

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Dissatisfied311
Mount Wolf, US
Jan 31, 2010 10:06 pm EST

Sorry to hear about your story; we have gone through almost the identical situation with GMAC. My husband began paperwork for modification in April of 2009. After submitting the paperwork he was told things were never received, they couldn't find certain papers, etc. which was complete BS; we had fax confirmations that the information had been received at the number provided directly to us by GMAC. We too were placed on the "trial modification" for 5 months, August through December of 2009. We made ALL payments on time, with a portion of the payment being deferred as part of the trial. THEN, in January 2010 the entire amount that was deferred came due which, of course we didn't have, so GMAC set up an agreement with my husband that we would make 3 large payments to get caught back up to being current on the mortgage. We were never given this chance. One week after making the first payment this month, my husband spoke with GMAC and they said oh, by the way, your agreement is no longer valid. How could this possibly be?! He has a signed, legally binding agreement for repayment initiated by GMAC themselves, and now THEY are going to try to break it? I don't think so! In the course of trying to jump through all of GMAC's hoops with the paperwork, my husband lost his job in September of 2009 and has failed to obtain employment since then, so this just complicates matters even more with everything. ALSO, we have 2 separate mortgages with GMAC, one smaller and one larger. We actually, out of the blue, received a modification for the SMALLER mortgage in November 2009 with never even having asked for it, let alone fill out paperwork for a modification for it! Now, how in the world can they just go and automatically modify this smaller mortgage with ZERO PAPERWORK being completed, yet for the larger mortgage we keep supplying every single piece of paperwork they need, only to be told something is missing, was lost by them, etc. I have already filed a complaint with the Better Business Bureau in Dallas, Texas where the office is located we deal with, and my next step is going to be to file a formal complaint with the Texas State Attorney General's Office. Someone in the government has to do something to stop the unscrupulous business practices of GMAC; they are clearly making things up as they go and are truly NOT committed to providing modifications for homeowners, even though their ### spokeswoman insists they are committed to providing modifications. The people of GMAC should burn in hell for what they are putting homeowners across this country through. I'm angry, I'm pissed, and I've simply had enough.

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Graduate Management Admission Council [GMAC] loan modifications

I might be getting the run-around from this company.

Originally, I usually save up for my taxes, and pay the first half in January. Because I did not make it fast enough for them, with no explanation, they impounded the taxes, and was charging me over $4k when my actual taxes were $3200.00!

Spoke to them and told them the high jacked up amount now made it very hard for me to make those monthly payments. They w, and ere cold and indifferent, and in frustration, I hung up with no closer to any kind of resolution for either of us. I continued to make my usual mortgage payment, and any additional amount as I could manage

I then applied for a re-fi that May, and to my horror, they had reported me delinquent, and my credit score took a serious dive by200 points. I was livid, and called, but asked to speak to the dept. that handles modification loans. Spoke to a guy named Kevin who seemed very sympathetic, and re-assuring. He told me starting with the next payment, it would now be $1050 pmt per month, gave me a new address to send the payment, that it must be received by the 1st of each month; no grace period. It was also now to be a certified check - no personal checks. I would pay this until a decision was made. A week later and I rec'd paperwork for me to complete and turn in; which included 3-5-m years previous tax returns.

It's almost 6 months, and I have not heard a thing, or get an answer out of anyone. A note with a payment, and several calls attempting to find "Kevin" has been impossible. In the meantime, I not only receive the same monthly statements, and is claiming I am owing $4K+ to resolve and says I'm in default! I also get these short letters from them with the alternate address claiming my monthly payment is short!

One more month, and I will have to escalate this - one of my earlier conversations with them, I found out that they are just a "Lone Service Provider." So while this whole time I assumed they had purchased my loan from the old mortgage company, it turns out my loan is owed by Wells Fargo Bank.! So I wonder if I will get a better shake going to them instead. I do hear though that they are rather ruthless, and have one of the worst records of coldness to people of color. (I suppose of course unless you are P Diddy or Bill Cosby)

I might add that having been single, very little established credit at the time, and being a cash and carry; then inheriting the house with my sibling, I could only get an ARM which I used to purchase our parent's house, and paid my sibling off. I have been having to Re-fi every other year at 8.5% since 2004, and by beginning 2009 had a credit score of 685.

Others I know that got modifications from their banks have waited up to 6 months.

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Preferred Negotiator
Rancho Cucamonga, US
Feb 19, 2010 8:53 pm EST

This people of color comment is completely unnecessary. Banks are ruthless to everyone, not just folks of color. They abuse all equally. Find out if your loan is Fannie or Freddie owned. If not, try Wells. Banks participating in HAMP must adhere to the rules. If they are not, report them to Freddie.

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Graduate Management Admission Council [GMAC] loan pay off

paid off my loan online and not with certified check. called next day to informed them, i was paying my off/overpaid because of online talk with rude telephone staff mark #897-8508, oneal#897-8673, xyza#897-509, etc. could not get pricipal off, did not send by certified check. never in my life 63yrs paid off my parent houseloan, iam disable now. what happen to quality service . phyllis a terry #[protected] acct [protected]

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PATSY SARSULA
Wharton, US
Jan 15, 2010 4:39 pm EST

I AM TRYING TO DETERMINE THE AMOUNT TO PAY OFF MY LOAN.

YOUR COMPUTER PROGRAM DOES NOT ALLOW FOR SUCH, AND YOUR

PHONE LINES ARE TOOOO BUSY, WHAT HAPPEN TO CUSTOMER SERVICE,

PLEASE CALL OR E MAIL ME, PATSYSABR@GMAILCOM OR [protected].

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Graduate Management Admission Council [GMAC] taking extra principal as fees

I contacted GMAC as instructed for a loan modification after I was notified the value of my home had gone down, State of Washington had cut my hours and the cost of living had almost doubled. They, GMAC, said I could get a loan modification. Come to find out, their modification cuts the payment but adds the difference to the back of the loan putting you more and more in debt and your credit rating getting worse. Because of this I chose not to do a modification.

Also, without informing me, they said they did an appraisal and they would not provide me with a copy of this but added a charge of $103 to the amount of my loan. Only after the Attorney General contacting them they sent the Attorney General a copy of the so called drive by appraisal.

I have never been behind nor am I now. I have actually paid more than the payment amount each month to lower the principal. Now all extra monies I send over and above the payment, they take as fees and do not credit toward principal. When asked why they tell me they don't have to respond to that and all fees stay as is.

My last payment, I sent $36.07, over and above my payment, of which they credited as fees. It doesn't even reduce the $103 they charged mefor the appraisal.

Prior to GMAC purchasing my contract in August all extra monies were credited to Principal Curtailment as they should be. But now GMAC takes those extra dollars as fees (FOR WHAT?)

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Graduate Management Admission Council [GMAC] repossession

Gmac faces $125 million penalty in california repo case

December 8, 2003
General motors acceptance corporation (gmac) faces a $125 million hit after losing a class action lawsuit on behalf of over 30, 000 california borrowers. The suit charged that gmac was illegally collecting from borrowers whose vehicles had been repossessed and sold by gmac.

The ruling is a "stunning wakeup call for lenders who violate california law," said mark a. Chavez, the attorney for the plaintiffs.

In an 18-page decision, santa clara county court jack komar found that gmac violated california law governing automobile repossessions throughout a seven year period, and was engaging in unlawful collection activities.

The lawsuit, smith v. Gmac, alleged that between august 20, 1994 and june 30, 2001 gmac repossessed the automobiles of thousands of its customers and sold them without providing the customers with a legally adequate post-repossession notice. Judge komar agreed, finding gmac's post-repossession notices to be "legally defective".

Typically, when a car is repossessed and sold, the borrower will still owe the lender thousands of dollars. This is because the cars are generally sold at auction for prices that do not cover the amounts outstanding on a borrower's loan. The bill for this "deficiency balance" often comes as an unpleasant shock to consumers, who are already in financial trouble, and who mistakenly assume that once the car is gone, so is the debt.

California law, however, provides a measure of protection for consumers whose cars are repossessed. A lender such as gmac is required to send its borrowers a written notice containing very specific information about their legal rights following a repossession. If the lender does not send such a post-repossession notice containing all of the required disclosures, the law says that the borrower is not liable for any deficiency balance.

Judge komar ruled that because gmac's post-repossession notices were "legally defective" class members "are not liable for any deficiency balances assessed to their accounts by gmac, and never owed those amounts."

Nevertheless, gmac had collected millions of dollars from class members to whom gmac had sent legally defective notices.
I am not in the trouble that most of you are in this blog, however; the "repo-man" makes me sick. So I decided to provide you with a tool to deal with those incompetent finance "professionals" at gmac
"the evidence in the case indicates that gmac assessed approximately $125 million in deficiency balances during the class period" stated kim e. Card of chavez & gertler, counsel for the class. Card estimated that gmac had collected more than $15 million of the deficiency balances prior to the trial and was trying to collect another $110 million in outstanding deficiency balances from borrowers who did not owe the money to gmac.

Under the court's ruling, which addresses liability issues and reserves the damages award for later, a notice and questionnaire will be sent to all potential class members. They will have the right to seek refunds of any payments they made to gmac after a repossession on a deficiency balance, plus interest on those payments.

Read more: http://www.consumeraffairs.com/news03/gmac_repo.html#ixzz0VP4kXvsi

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Graduate Management Admission Council [GMAC] loan modification

I called gmac mtg to let them know I was going to be late on my sept. Mtg. Pmt. They asked if times were tough I may qualify for a loan modification. I said great i'll try it out, work has been slow. A week later after all the paper work was faxed in, they informed me I was qualified and gave me all the info over the phone of my new loan pmt, rate and the details. They mentioned if I wanted to keep the rate and the loan in good standing I was to send in a cashiers check by sept. 25th in the amt. They requested. Being that this was my mtg. Company that I have dealt with for 6 years I sent in the amount requested as not to lose the interest rate. At that point they said I should receive fed ex loan papers in a few days and not to make an oct. Pmt. But to make a nov. Pmt before nov.1st whether I received the documents or not. That was sept 21st. Since then I have gotten the total run around when I call in to gmac/homecoming fin. Some have said the paper wk is backed up and the loan is approved look for the fed ex in the next couple of days. This fed ex never shows. Now I call today oct. 27th and they indicate they had to re-due the loan because they made a mistake and now my new pmt will be more than what I paid before I started any modification with them. I asked to speak to a supervisor on many occasions and would be placed on hold for a few minutes only to be hung up on. At this point, my last call today was to find out my delinquent amount to gmac so I could cancel my loan modification and pay the balance to loan pmt center. Funny thing is I called and spoke to one individual, they gave me one amount and address to send it to and then I called a second time just to be good and parranoid only to get a different pmt amount and a different address to send my pmt. They also told me to call in tomorrow to see if they cancelled the loan mod. Yet before sending the pmt. Please any suggestions?

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Graduate Management Admission Council [GMAC] car lease

I leased my last 4 vehicles through gmac and never had a problem when I turned in my vehicle to the dealer. Based on their records, I am a premium customer.

Last month, I returned my buick with 36, 000 miles and gmac sends me an invoice for $123.99 to fix minor scratches. Mind you the vehicle had 36, 000 miles and these minor scratches can easily be fixed with a $2 wax polish. Also they indicated some gasoline stains near the gas tank. Yes gasoline stains! Like having a used umbrella with water stains. I could have fixed the scratches if they told me about it. I spent $10 to wash the damn car before I turned it in. And they want $129 so they can grease their favorite dealer.
Gmac hires 3rd party assessors whose only goal is to find way to assess damage. Never again gmac. Bankruptcy has made this company another crook in business suit.

I called the 1-800 number and an idiot named ryan tells me, "okay don't pay, i'll get the collection agency on you". I ask for the manager and her (ms. Jennifer anderson) voice mail says she'll be out for 2 weeks. And she hasn't called for over 2 weeks since she's supposed to be back. Yes, manager's out and there's no one else. Just send me your money. That's the message. Crooks. Never again gmac.

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Update by OGO
Oct 27, 2009 1:06 pm EDT

I agree. There are plenty of complaints about GMAC online

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Graduate Management Admission Council [GMAC] repossession

Received letter from GMAC on June 11, 2009 that stated they could reduce one or two of my payments on my lease. I called, got approved to skip two payments and was told I did not need to send another payment until August. So, that's what I did. Two days after making my August payment my car was repoed. After speaking with customer service I was informed that I was 80+ days late on my payment. Explained to cust. service about the letter that I had received. They said that they had no record of me ever being approved. Spoke with the gentleman who had approved me to skip two payments. He apologize admitted it was GMAC's fault and said that it had "slipped through the cracks". Well, I was without a car and my purse and had to miss work to get my car from the towing company. Had to end up paying for the two car payments that I was told I could skip plus all towing and storage fees. Needless to say, I am very upset. In addition my credit report now shows that I have a repossed vehicle even though I paid for and picked up my vehicle the very next day. Is there anything I can do to get this off of my credit? I can't wait to return my leased Cadillac on November 13th and will never use GMAC again.

Tiffany

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Graduate Management Admission Council [GMAC] modification

Gmac mortgage is scamming the working class, I applied for a modification and paid on time and was denied and never informed until they had the opportunity to report my mortgage as being 60 days past due even though I was paid up one month ahead on the modification. This company should not be allowed to continue to scam the working class to get more money and they should not have access to federal funds and. There should be an investigation into what they are doing and I will never refer any human to this company. I have never had a late payment and they ruined my credit because they have no rules and their goal is to see all hard working americans with no home and bad credit just because the can. Gmac mortgage sucks and their policies should be investigated

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nikki6
New Durham, US
Nov 05, 2009 12:57 pm EST

Lets get together go to congress on this GMAC scam and CNN and tell them what they're doing cuz they did they same to me. I applied for modification they told me it was denied then messed with my current mortgage and upped it by 700.00 /mo. I never signed anything never been late even through the whole 6 mo. it took them to deny me.

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burch
weed, US
Oct 12, 2009 9:02 pm EDT

GMAC mortgage is very difficult to work with. I have been able to modify all my mortgages but one. That being gmac mortgage. They play hardball and will not give an inch. But they're not alone out there. The obama plan is a joke, almost no one can possibly qualify under the current criteria.

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Graduate Management Admission Council [GMAC] timeshare rental

Never ever trust gmac timeshare to rent or sell your timeshare property. All they want is your money. After signing up with mr martin and cynthia delfi, you won't hear anything from them. These people will promise that your property will be sold/rented in 4-6 weeks — guaranteed! But after collecting your money, you won't hear any phonecall from them. The same with their customer service — you will not receive any updates from them. This is a total rip-off!

I signed up and paid $599 last april 09 with a promise that my property will be rented in 4-6 wks as the maximum wait time. I never received a phonecall after they cashed in my check. The contract states that you only have 7 days to cancel and must submit a cancellation in writing. 7 days is too short if you are hoping and trusting that your property will be sold/rented in 4-6 wks. This is a scam!

It's a waste to trust any company that sell or rent timeshare property. If they are asking for your money up front, stay away and stay away from gmac td in florida and platinum property in las vegas.

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dalisjob
, AR
Dec 07, 2010 4:35 am EST

Hi I-got-scammed,

I just saw your comment, I have posted an online PETITION in order to get enough victims together to begin this CLASS ACTION SUIT against them.

Please join go to http://www.surveymonkey.com/s/KDGGYJZ

I am extremely serious about getting the ball rolling. Once you have signed on, I will send you an email giving you all the steps I have taken in order to bring attention to these guys. Feel free to contact me, my numbers below. Together is the only way our voice will be heard.

Dali
[protected]

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Graduate Management Admission Council [GMAC] terrible company

On april 15, 2008 at around 1:00 am, the crew of rebello’s recovery (who was hired by gmac) came to our apartment to reposes our suv due to late payment.

The suv was parked in our gated apartment with the garage door secured. The said crew climbed the 7-foot garage and took the garage remote control from the suv and towed the suv.

The incident was witnessed by our neighbor, who happens to be my younger brother. According to my brother, when the suv was taken out of the garage, the vehicle’s hood was damaged when the garage gate automatically closed while the suv was being transported out of the apartment. Upon getting out, the crew lifted the rear door of the vehicle which resulted in hitting the metal bar of the garage gate – this had caused damaged on the rear light of the suv.in addition, as the crew was towing the vehicle, it hit the side of the apartment garage which resulted in damaging the mirror by the driver side.

On april 18, the payment was settled with gmac. I called rebello’s recovery to inform them about the release form and was advised to pick up the suv on april 21. Rebello also send us a letter with all the allegedly properties that were in the suv and the alleged vehicle damages when it was taken from my apartment. The company claimed that all the damages listed on the letter existed prior to april 15, and that the damages were not caused by their crew. This vehicle was bought brand new six months ago and there is no way that the damages that they alleges existed prior to towing it few days ago.

When I arrived monday at rebello, I was asked to sign a form that releases them from being liable on any missing properties and damages of the vehicle. I asked them that I need to see the vehicle before I sign the form. They denied my request to see the vehicle as it is allegedly against their policy.

The company called gmac to convince us to take the vehicle out of their garage. I spoke with leanne from gmac and was advised to sign the form, which I denied.

I filed a claim from our car insurance, geico, for the damages caused by rebello. They are now claiming that the vehicle was towed outside the garage, which is totally a fabrication of what actually transpired on april 15. Geico was also denied to see the vehicle.

Gmac had agreed to pay for the damages but had advised us that they will demand that geico reimburse them for the costs of the repair. Per our insurance policy, the cost will be pass unto as, which is $1000.00 deductible. If we agree with this settlement, it is a obvious admission that the damages were not incurred by rebello. I refuse to agree with this settlement.

As of this time, the vehicle is still under the possession of rebellos, due to the fact that I refused to sign the release of liability form.

I really didn’t expect that I would be so late for my payment, because it is supposed to be automatically deducted from my bank account I enrolled sometime of march, and I just received there termination letter of my direct pay on april 29, 2008. I don’t really mind about the payment but for the damages that they did to my truck. It’s like purchasing something that I didn’t even seeing it. We need help, we’re looking up for a lawyer that could help us, but they said that this case is too small to be handle. They asking us about how much could be the damages worth, but we don’t know because that company doesn’t want us to see the vehicle.

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Graduate Management Admission Council [GMAC] $2000.00/relocation check

Andrea poling of prudential landmark realty of champaign ill. Calls me on the phone tells me she is authorized to give me a check for $2000.00 dollars if my wife and I moved out of the foreclosed home by the end of the month. My wife and I moved out one week before the end of the month. She comes out takes her photo's of the inside of the place, say's it looks good had to sign these w9's she took the key's and the w9's and said she does not have the check. Cyprex does she say's she has no way of getting a hold of any oneto get me the check, we signed these papers that state 2days after inspection we will have our check. It is going on 3weeks now still no check... Where is my check? Do I have to take this to court?

Marc hood

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sunshine5906
Fredericktown, US
Oct 20, 2011 8:20 pm EDT

same situation. Only we rented the house, were current on the rent and each and every bill that was included in the lease was paid by us not the dead beat who bought drugs instead of paying his mortgage. Cyprex and GmaC have a great scacm going on. I am thankful that I haven't fallen for it. If they want keys, they'd better have cash.

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bobtheman
, US
Sep 11, 2009 7:51 pm EDT

You didn't pay your mortgage, your home was foreclosed, and you have the gonads to say you're going to take them to court? REALLY?

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Graduate Management Admission Council [GMAC] machine not working

Hi
My whirlpoor white magic h 55 washing machine is not working.
Can you please let me know contact details of your authorised aftersales & service centre / customer care centre, which is near by malviya nagar in new delhi-110017.

Please respond ugently.
My e-mail id : [protected]@indiatimes.com

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Graduate Management Admission Council [GMAC] leases

I leased a car a few yrs. Ago and was coming toward the end of my pmts. I fell behind on them due to a knee injury and being out of work on disability. I was behind but I kept paying and only owed 7 more lease pmts. The company, gmac decided to reposes my car. I thought I would have to pay off the lease loan and fees, but I found out that when my sales rep was going over the contract page by page we missed the part that stated if the car was repossessed it would be auctioned off and I would be responsible for the difference along with the remainder of the lease and all costs. Don't bother fighting it, the law is not on your side, the car dealers don't care and you go to court anyway. The biggest kick to this is the attorney that was handeling this for gmac, craig s. Schoenher in sterling hgts. Mi decided to put a lean on my house as I lost my job in april and my husband lost his in jan, and I missed a march&may pmt. Look at the way the world works, isn't it just wonderful. Even when you are trying they wreck your credit as much as they can!

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Graduate Management Admission Council [GMAC] false promise

To ts421, if I would have to post my property on the web and provide a link to their site, then i'm doing their job. It's up to them to do all the work, as they are paid to do. What you do not see if how all this transpired: I was overpromised and nothing but excuses were delivered. If they want positive remarks, let them do what they promised to do. Mr. Martin promised to have my properties rented and sold quickly. I haven't heard from them since they made sure to collect my money. When I mentioned that the economy was bad before the listing, mr. Martin assured me that he would get quick results still.
Additionally, you may not have realized that this is a complaint board, not a complimentary board.

To dana breshaun: 2008 is different than 2009. We see what a difference a year can make, i.e. The mortgage business, credit crisis, and the rise of unemployment. Additionally, every large company can have a bad apple. i.e. It wasn't every employee of enron that was a problem, but because of a few, the company failed. Gmac timeshare hasn't proven themselves with me, and that's all that counts.

To sparkky692001, I bet they offered to lower the listing price for you! Especially after "talking to their manager!" no matter what it is, you'd be better off investing in enron stocks!

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William McKinley
Nampa, US
Jun 13, 2011 8:55 am EDT
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JUNE 10, 2011--It has been over a year now (from April 27, 2010 - Tues @ 3:30 p.m. until current) and I haven't gotten anywhere with GMAC Timeshare Division. I didn't petition them to do me a service; they came to me via phone. It was Katherine Castellanos who promised she'd do everything to get my condo rented. She secured me in stating how reputable GMAC was and didn't have to worry about them taking me for a ride (scam).
I trusted GMAC Mortgage whole-heartedly. I have had two homes through their mortgage division. And if TDGMAC Real Estate is a branch of GMAC Mortgage--I thought I could trust them—what wasn’t to trust? Boy, was I wrong! She told me that she'd put me on priority status, so my unit would get rented out quickly, she made it sound as if were tomorrow. She assured me that I wouldn't have to lift a finger to do anything--they'd take all the necessary steps in getting it rented out (this was what the $699 was for).
Katherine told me she'd be our Marketing Rental Agent for LIFE! She said she'd call frequently, asking if we would be using our condo, or renting it out from year to year. She said she'd continue to keep in touch with us on a regular basis with the status of the rental of our condo. After making all those wonderful promises, she was all too anxious to secure the money of $699. She said it would have been $899--but gave me a discount because I had my mortgage through GMAC. She assured me this would be the only fee I'd ever be charged--this amount would cover ALL her services from now until we didn't want her services (in other words, FOREVER).
Again, she assured me that my condo would be put on PRIORITY STATUS meaning, it would get rented between 30 and 90 days. I'd receive my money in a cashier’s check after 10 days, once the rental took place. She said we could get at LEAST--$2, 200 per unit and it could go up to $2, 500 X 3 (4) = $6, 600 to $7, 500. She also said the $699 was tax deductible? She would send me a form around tax time (E-234)? I never received a form, for either Tax year 2010 or 2011. *~*
She took my money and reassured me that GMAC Rental has been in existence for 20 years with 97% in experience with good standing. With my husband out of work (and still out) I felt renting our condo, especially since we can't afford to go on vacation ourselves, should help pay a few of our house payments among other bills. I also felt it would help cover those dreaded maintenance fees, which are now over $750 per year. I've called The Timeshare Division over and over again; I've emailed them, and when I do get someone they always have some sort of an excuse, now it’s the economy. They make it sound as if it’s my problem. They also said I'm the one that must continue to call them to the status of my condo. This one lady got very rude with me. Why should I do the work I’m paying them to do?
I'm so upset, I need my money! If I don't rent out these units, I will lose them. I have to pay a fee if I want to keep them past their expiration date so that I can keep them in circulation/useable. I've got at least 3 weeks, or 3 different times @ one week—located in Celebrity Resorts Orlando, Kissimmee, Florida. The unit contains 2 bedrooms, 2 baths, even a full kitchen--very nice. It is near Disney World. Now why couldn't GMAC Timeshare Div. rent this out?
They make a lot of promises, take our money and give us nothing in return. I never could get a hold of Katherine, always leaving her messages. I finally called a different number and asked someone why she wasn't returning my messages, they told me she was on leave. They'd have her call when she got back. I waited and waited. I called again and again. They said she was let go, that whoever took her place would call me. No one did, I called her old number which happened to be John Callaway’s number now. I left him a message and he hasn't gotten back, currently--but did I really expect it? YES! I want what they promised me for payment received of $699, and in return, the rental of my 3 to 4 condo units at $2, 200 per unit. They cannot get away with this! HELP! X(

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Ive been scammed by GMAC
Minneapolis, US
Feb 25, 2010 8:12 pm EST

Ok I just got off the phone with Florida Attorney General Bill McCollum, he is head of the Economic Crimes Division, if you have ever paid Timeshare FSBO, Timeshare MLS, GMAC Timeshare Division any money and they did not do what they promised, then we can do a class action lawsuit against the owners of the companies, as well as the scam artist salespeople that work for GMAC Timeshare Division, and hold them responsible. Here is how we can get our money back, go to www.myfloridalegal.com and file a report about GMAC Timeshare Division and the salesperson that took your money, or call [protected] and ask for the Economic Crimes Division and file a report, GMAC Timeshare Division is currently already under investigation. This company preys on those who need help the most, and they bet on the fact that most of us people will not do anything to try to get our money back. Prove them wrong, call your credit card company and dispute the charge, and then file a formal complaint against them. TAKE ACTION!

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GMAC SCAMMED ME
New York, US
Feb 17, 2010 2:50 pm EST

I paid GMAC Timeshare Division $1000.00 to Henry Cordts. I never got a returned phone call. At www.BBB.org : GMAC Timeshare Division has the worst possible rating an "F". They will never provide any proof that they have ever rented or sold a single property. GMAC Timeshare Division cannot n provide you even 2 or 3 clients that have had a good experience with GMAC. They are a scam and the only way to get your money back is to start a class action lawsuit and call your credit card company and dispute the charge and then take them to litigation. DO NOT PAY GMAC any money, THEY ARE A SCAM.

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GMACTD
Orlando, US
Feb 04, 2010 4:43 pm EST

Timeshare Division GMAC Real Estate is a Marketing Company.. Not a Listing/Advertising Company. They do not advertise or list any of their customers inventory on a website. Advertising a property on a website means ( based from what several consumers have blogged about and personally from what I know of the industry) it's just going to sit on a website waiting for someone to scroll across it one day. There is a huge difference between an "Advertising Company and a "Marketing Company". Let me explain.. You will often find that many people confuse marketing with advertising or vise versa. While both components are important they are very different:

Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.

Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers for the mutually advantageous exchange or transfer of products.

The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal, the consumer. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organisation does to facilitate an exchange between company and consumer.

Timeshare Division GMAC Real Estate provides the most comprehensive vacation property marketing program in the industry. With their affiliations, memberships, resources, and know how, they aggressively market each property through several different avenues but not by letting it just sit on a website. Infact, www.gmactd.com is strictly their resort directory. It allows the consumers to take virtual tours of each resort. They ask that customers not only create an account on the website to post positive comments and experiences of their resort but to also send in pictures to ad to the website www.gmactd.com, this gives any interested party a better perspective of ownership from the owners views of their ownership at each resort. Timeshare Division GMAC Real Estate mostly markets inventory by going to several different types of events. For example major conventions in the industry that target the appropriate audience, a monthly showcase at the International Palms Resort & Conference Center located in a major tourist spot in Orlando, FL., different types of leads groups, all kinds of business to business events, and daily networking events. To stay up to date on Timeshare Division GMAC Real Estate's events, visit: http://www.gmactd.com/blog/corporate-events. If any of the events are in the area you reside in, please feel free to attend! Plus, Timeshare Division GMAC Real Estate's recent partnership with Travelocity Partner Network gives us a powerful suite of travel products and are able to harness the resources and product lines of Travelocity Partner Network to help them establish their brand as a trusted travel provider. Timeshare Division GMAC Real Estate is now a full travel agency offering everything from accommodations through our owners inventory, flights, cruises, tickets & attractions, car rentals. Travelocity Partner Network is the leading provider of consumer-direct travel services for the leisure and business traveler. Through Travelocity Partner Network, Timeshare Division GMAC Real Estate's customers are also able to access offerings, pricing, and travel information about airlines, car rentals, cruise lines, tickets & attractions, and other travel related services.

The recent economic downturn has had an impact on our industry and we understand every clients frustration when the turnover period is not exactly what they had anticipated but please be assured that we are continuing to maintain a positive scope and take every aggressive avenue to create the best marketing routes for each client. Timeshare Division GMAC Real Estate looks forward to continuing a positive business relationship with each Customer and assures you we are constantly working with the vacation industry for more exposure and marketing opportunities. If you have any discomfort with your service from Timeshare Division GMAC Real Estate please do not hesitate to contact the Customer Service Department immediately Toll Free [protected]-GMAC ext. 4 between the hours of 10:00 am - 6:00 pm Mon-Thurs & 9:00 -5:00 pm on Friday or simply email Customer Service: info@gmactd.com. Timeshare Division GMAC Real Estate takes pride in our name and stand by our motto Service You Deserve, People You Trust!

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Jim Brown 100
St. Louis, US
Jan 07, 2010 2:04 pm EST

GMAC Timeshare Division
5389 S. Kirkman Rd. Suite 103-106
Orlando, FL 32819
888-805-GMAC (4622)

GMAC hounded me to list timeshare time with them. Taletha Kinkade called numerous
times saying; “I have clients wanting to rent condos for special occasions. I also talked
with Taletha, s associate, Eric Kennedy and was promised immediate results, if I would
list with GMAC. After all, “GMAC is Service you Deserve, People You Trust.”
On June 1, 2009 I sighed their listing agreement and paid $800. to GMAC, listing
The followint three units:

1BR Deluxe: 10/17/09 to 10/19/09 two nights Wyndham Ocean Walk,
Daytona Beach for Biketoberfest weekend.

1BR : 02/12/10 to 02/19/10 seven nights Wyndham LaBelle Maison,
New Orleans for Mardi Gras week.

1BR Studio: 02/12/10 seven nights Wyndham LaBelle Maison,
New Orleans for Mardi Gras week.

Results: NONE!
Never once did GMAC contact me with offers to rent or suggestions,
such as rates to quote. I contacted GMAC by phone several times and
spoke to Office Manager, Frankie Martinez. Frankie said; “We never
guaranteed you anything….but don’t worry we are working for you.”

In September, I received a call from Taletha Kinkade, wanting to list and
sell timeshare for me. It was obvious she was “coldcalling” timeshare owners from
a solicitation list. I said, “Taletha, you fool, do you know who you are talking to.
You have already scammed me for $800. and have done nothing for me.”

I cancelled the reservation for Daytona Beach on or about Oct. 1,
so I would not be penalized for late cancellation.

December, 2009: I listed the New Orleans units on Craigslist.
Both were rented by Jan. 6, 2010.

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Graduate Management Admission Council [GMAC] fraud and cheating

I had a loan with GMAC on my house. We sold the house and bought another one. The original house fell out of escrow. I put both houses up for sale, and paid two notes for over a year. During this time the company I work for went through Bankruptcy. I lost 59 ½ % of my pay, and was unable to pay two notes. I offered GMAC deed in lieu of foreclosure, they would not accept.

I had several offers GMAC would not even talk about a short sale with me paying the difference. I even had an offer for within $7000 of payoff. While negotiating this offer GMAC foreclosed on the house with only a 28 day notice. (30 days required by law in Ga.) GMAC was only after the PMI money and would not work with me in any way. I will NEVER! have another loan from GMAC/DITEC etc. nor will I ever own another GM product.

GMAC mortgage needs to be investigated. With their practices they should never have gotten any tarp money from the Government.

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MariaGA54
Atlanta, US
Feb 02, 2011 1:45 pm EST
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I am fed up with GMAC and all of the issues I have discovered they have. Like you I did not know they were under investigation. I have turned to this board for some answers and will continue researching to see what I find. I'm struggling to make payments, and GMAC will not work with me. They keep threatening forclosure. I don't want that to happen at all. I am supporting 3 children--one with special needs and don't know what i would do. I agree with you and Rodney that they are crooks and don't care about people. Even single mom's who need the most help.

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MariaGA54
Atlanta, US
Feb 02, 2011 1:33 pm EST
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yueyu

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JeniB
Greensboro, US
Oct 07, 2010 7:49 am EDT
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I live in NC and GMAC is doing this to me. I had no idea they where under investigation for fraud. One day I sent a payment to them Western Union and they send it back and so I called. The man on the phone was very rude and ugly and said I had not made a payment sense May and they where turning it over. They know I am a single mother and they also know I have a child with a rare muscle disease. How could you be so cruel and dishonest and try to take someone’s home like that. I am in the middle of contesting it with there lost mitigation department but anyone that knows anything else I can do please contact me. jenib9505@yahoo.com

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Robert Rodney Vance
Picayune, US
Nov 05, 2009 8:44 pm EST

I had a variable rate mortgage with GMAC. a couple of years ago they informed me they were soon to reset, I asked to have my interest rate reduced, they refused to discuss. I was soon contacted by a company called Hurricain Mortgage, they offered an 8.5% 30 year fixed rate and told me this a one time offer that I should take even though I was sure I could not show ability to repay. That was a perfect example of predatory lending as they were obviously in cahoots with GMAC You may ask why I believe this, that's easy Gmac bought the loan before it was a signed deal! The appraiser was no doubt in bed with them as she appraised the house for $250, 000.00, a nice round number taht allowed me to borrow $225, 000.00 which paid off most of my depts. However at 69 years old I had to go back to work in order to make the payments. I am now 71 and still working but now have heart problems and don't know how much longer I will be able to work. My payment is due on the first but they give a grace period of 14 days, therefore I never make the payment before the 14th. They now call each Month from India, the person calling is barely inteligable and I am pissed to no end. I think since GMAC took our tax money that will love what I propose. I think the house may appraise for $150, 000.00 by a real bank appraiser and I am willing to sell it for that as long as my debt is cleared.
As a foot note: They took our tax money to bail them out but the still out source there telephone business to India. " Great American Company SLOBS!
10 mins ago by Robert Rodney Vance 0 Votes

I can only say you are all a bunch of crooks!

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Graduate Management Admission Council [GMAC] how to stop illegal foreclosure

GMAC Mortgage entered into a modification agreement with me. Afer the first payment was collected, I received a letter from them stating that my rate would increase for the next month even though the modification agreement stated that my payments would be fixed for 2 years. I continued to make my payments according to the terms in the signed contract. For over 5 months, GMAC cashed my checks but never credited my account. After collecting payments for over 5 months, GMAC filed a NOTICE of DEFAULT against me. They are outrageous!

I am an owner of a forensic loan auditing company. I am so upset about what this incompetent company is doing to people who are paying their bills. I have filed a complaint with the FTC, but they do not investigate individual cases. I am willing to do FREE audits for GMAC customers. I am interested in compiling all state and federal violations GMAC commits against its paying customers. Please email me at [protected]@freshstartaudits.com. If we can identify and show that these practices are routine, then we can expose them for who they really are (GREEDY LIARS). Please email me I am interested in what they may have done to you!

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gmac cheats and steals
West Chicago, US
Jan 02, 2011 2:39 pm EST
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they just want your house. keep fighting. don't move. this is a battle with no rules. keep hounding hud. the AG, senators, reps, Obama, all play stupid. good luck. they got me. STAY IN YOUR HOUSE DONT LET THEM CHEAT U OUT OF IT

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Strong One
Hastings, US
Jan 02, 2011 3:22 am EST

I have an FHA insured loan and my lender is not following HUD rules & regulations or FHA guidelines as they are supposed to when servicing my loan. They keep making up new excuses why I don't qualify for the FHA HAMP. When I fax them the information from HUD proving them wrong, they come up with a new one. My assigned person to manage my loan modification from beginning to end has not returned any of my last 9 phone calls. It seems like as soon as I started to questions their answers, they stopped communicating with me. The lender started foreclosure, but then abruptly stopped it with no explanation. Now they have started a second foreclosure. I have contacted my Attorney General's Office, Congressman, Senators, Representatives, The Office of the Comptroller of Currency, and HUD (National Servicing Center). So far, HUD has not stepped up to the plate to enforce their guidelines even though they agree it is illegal and agree I do qualify for the FHA HAMP. Makes you wonder why. Could it be that HUD's Assistant Secretary, David H. Stevens, used to work for this very same lender? I am still hoping for a miracle to save my home.

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gmac cheats and steals
West Chicago, US
Sep 07, 2010 10:44 am EDT
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GMAC stole my home * the judges in DuPage County don't want to hear it, * Freddie Mac doesn't care, *now we have another abandoned house on the block * ANYONE THINKING OF A SHORT SALE? YOU ARE MAKING IT EVEN EASIER TO STEAL YOUR HOME & CREDIT F THEM.

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Peter Zepp
Camarillo, US
Sep 02, 2010 10:26 am EDT
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Hello MY Name Is Peter Zeppeiro I have had lots of trouble with GMAC I have even won a judgment against Chicago title and it was unlawfully set aside by the judge and attorneys with out my knowledge or permission. thay have violated the California one day interest rule my ph number is [protected] I am in Ventura California

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Jennifer cypess tx
Cypress, US
Mar 25, 2010 12:07 pm EDT

same thing happened to me.. at first we didnt make enough for modifaction, the under obama help we did. We entered into an agree for 3 months I paid the decmeber bill which they took out the orginal payment not new one. When I called in january for refund i got it, then they told me the repayment plan was readjusted and went up 230.00 for feb march and april. I called to set up making payment on 26th of febuary because they said I did not have a payment for January and It was due 23rd but didn't get paid until 26th no big deal I was told, but received a certfied letter the 25th saying I did not make the timely payments and forclsure proceeding would start if all that was due was not paid in 30 days...oh yeah did I mention that they failed to tell me the due date changed from 23rd back to the first! I guess since they are obligated to help under obama's plan, they will, but then change things to make it impossible to keep. and they made me add PMI to my loan, i put 20% down so I didnt have to have it at first...hmmm guess they just needed that 20k and can resell!

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gmac cheats and steals
West Chicago, US
Jan 11, 2010 12:59 pm EST
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GMAC applied all my payments to escrow for balboa insurance that i didnt need, next thing i know, i'm in foreclosure and now waiting for the sheriff to throw me out despite the fact that my payments were made. the ceo needs to be tried for treason. they are clueless, except for a few employees who took the minute to look at my file and understood what they saw.

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PKSouthBend
South Bend, US
Oct 28, 2009 12:42 am EDT

Attention everyone--- RUN RUN AWAY FROM GMAC Announced today by Tresury Dept/ Forbes / Rueters that US government will have to give GMAC third injection of stimulus money of Over 12 Billion or they risk going into Default! Yes GM is looking for a buyer.. Ceberus Capital owns 51% and wants OUT where GM owns 49% and we all know how the US Auto market is going.. So Get Out Now before they go into default.. Obama probably wont let it happen, but we all will pay the price.. They are the #1 Comapny in the country right now at risk..

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Graduate Management Admission Council [GMAC] cashed check and refused to credit car loan account

I mailed a check to gmac on 3/14/2009 for my car loan account that I have with gmac. Gmac cashed this check on 3/19/2009 for $318.72. I have the cancelled check from the bank. Then, gmac sent me a letter saying that they will not credit this amount to payment of my car loan because the check was to 'gmac insurance' and not to gmac even though the check had the correct account information on it. I then asked gmac to refund this amount to me and they have refused to return it. So, they cashed my check and kept the money, refused to credit this payment to my car loan account, refuse to return this money to me and have refused to return my calls so far. I have sent them all the paperwork. Any suggestions?

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jznzfs
Alamo Heights, US
May 18, 2009 7:28 pm EDT

Would suggest that you ask to speak with a supervisor (you have to talk to a supervisor before you can talk to a manager). Explain the situation and ask the supervisor, then the manager, if he/she would like to explain to the Controller of GMAC where the funds were applied. If they say they have not applied them, ask them why they have had an open item since 3/19/2009 because this is exactly what the Controller is going to ask and you are forwarding your complaint.

If no success, send to:

Linda Zukauckas, GMAC group vice president of
finance, GMAC LLC, Tower 200, Renaissance Center, Detroit, MI

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Graduate Management Admission Council [GMAC] release of lien

My son leased two vehicles from gmac last year and they accidentally put me as a co signor on both of these vehicles and not even using my right birth date. They used my wife, s birth date. They aknowledged there mistake and told me it would be fixed in 30 days. A year later I found out they are still on my credit report. The letter dated may 1/2008 will be forwarded to my lawyer asap. Don [protected]

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MARTHA ESTRADA
,
Nov 25, 2008 2:28 pm EST

MY EX-HUSBAND IS THE REGISTERED OWNER OF MY VEHICLE. I WAS AWARDED THE VEHICLE IN A DIVORCE DECREE AND I CONTINUED MAKING ALL THE PAYMENTS. THE VEHICLE WAS PAID IN FULL AND TITLE WAS MAILED TO MY EX-HUSBAND AND HE REFUSED TO GIVE IT TO ME. I CALLED GMAC TO GET A RELEASE OF LIEN AND THEY REFUSED EVEN THOUGH I OFFERED TO SEND THEM THE DECREE SIGNED BY THE JUDGE AND AGREEMENT UPON BY MY EX-HUSBAND.

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Graduate Management Admission Council [GMAC] horrible modification policy

Beware! We were offered a home modification, reducing our payments. They have a trial period of four months, and then if payments are made successfully they will give you a permanent modification.

During the trial period, if regular payments are not made, they will mark the past due balance as 30, 60, 90+ days late on your credit. If you pay the modified amount during the trial your credit will be ruined.

If they decide to add an escrow to your account, you will need to make the new higher payments or suffer negative credit marks.

Negative credit marks will increase your credit card rates, homeowners and auto premiums.

You will be forced to pay the regular payment, an increased payment adding escrow or ruined credit.

For at risk homebuyers not 30 days late, this is a doom.

They need to change their policy before they ruin people's finances.

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Pissed in Pennsylvania
Pennsburg, US
Mar 12, 2010 6:14 pm EST

I have been totally screwed over by my mortgage company GMAC! I wanted to apply for the Obama modification- told I could not because I was up to date with my mortgage-- so I didn't pay the mortgage for a month and a half so I would be eligible--

Ok- I filled out all the paperwork because I was evidentially now eligible for it because I was now past due. I was put on a loan modification plan for 6 months-- I had been paying on regular payments $820.00 per month on the modification I paid $636.00. During this time I was to call in a payment each month. During these calls I was harassed by GMAC to pay my loan- each call I had to argue to be transferred to the loan modification department-- YES argue each time! After finally being transferred I would pay the amount. No problem there.

Then, three months in I receive an ACT91 foreclose notice- Yes I was ready to have a heart attack- called GMAC and again had to argue to get my modification department. Several times I had told them I felt they were incompetent because the left hand had absolutely no idea what the right hand was doing. They then tried to smooth things over.

I called trying to find out what was going on and was them told I owed $14, 000.00 on my past due account and again had to argue to be transferred to the loan modification department. Once there I was told I had not been approved for the Obama Plan (no letter had been sent to me) but I was being reviewed for another type of loan, that I could breathe easier and a package would be sent to me. It was! I received another ACT91 packet! Yes heart attack time again!

I called again but this time I somehow managed to get into the correct department - maybe because I demanded the manager immediately. I was told I had been approved and owed a payment of $1456.00 on the 19th of March. I asked what the interest rate was I had been given and guess what! It was the exact same percentage I had with the first loan! (6.125%) not one change. They person I had spoke to told me she would expedite my package and request a delayed payment-- but I have not heard a peep!

I had expected it to be higher because they had put me into an escrow account- but to be that much more with no drop in percentage was ridiculous! I spoke to a friend who had just retired from banking and he told me what they had done was illegal and I had to do something immediately. And that this was the new scam the mortgage companies were pulling on people.

I have yet to receive a package. I am at witts end here. I am trying to get everything taken care of, I tried to refinance all of my bills- (vehicle- credit cards and mortgage all in one bill- GMAC gave me the run around
I am awaiting the "package" GMAC promised would arrive and I am considering reporting them for scamming consumers because I was promised that even if I did not receive the Obama plan I would still receive some type of a lower rate-- yeah right!

I am not upside down in my mortgage- - the mortgage was only $128, 000.00 the property is worth at least--on the low end here $550, 000.00 (current market comparable price)

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aapbailey
Mayville, US
Nov 30, 2009 7:36 pm EST

We agree. we actually just made a payment over the phone, received confirmation, and then received a letter thanking us for our paymet. A week and a half later, we received notice that we had not paid and that late fees were being assessed. They typed in the wrong account number and now will not help us. We were able to make another payment but they still insist that we were late with our payment and will not accept responsibility for their mistake. The customer service representative was rude and condesending when I was trying to ensure she had the correct account numbers! We also had three communications with the mortgage compay in which they stated that our account was in good standing and that the payment was received. However, the money was never taken from our bank account.

My theory is that they are trying to make it look like we are not living up to our end of the bargain, so they can foreclose on us. It is dispicable and sad that people are being penalized for trying to do the right thing. What a sad state of affairs our country is in with this economic crisis. Now, I just saw on the 6:30 nation news that credit card companies are hurrying to raise their interest rates before the new legislation goes into effect to stop them. I cannot stand this! Something needs to be done about these companies that have us over a barrel. Oh and actually we were attempting to make our payment early. So, if there was a problem with the numbers of the account, they could have contacted us before the actual payment was due. therefore, no late fees would have been added.

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Phone numbers

1866 505 6559 +1 (703) 668-9605 More phone numbers

Website

www.gmac.com

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