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- mquinn22's review
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| Value for Money | 1.6/10  |
|---|---|
| Reviewer Rating | 1.4/10 |
| Overall Rating | 1.7/10  |
By mquinn22 on 14th Feb 2006
| Product | Variable rate |
|---|---|
| Repayment Method | Interest only |
| Value for money | 0/10 |
| Overall value | 0/10 |
 mquinn22's recommendation | |
Absolutely positively none!
Impersonal
Lost my money
I am a real estate investor, and Gmac Mortgages is the worst mortgage company I have ever dealt with! They bought my loan from another company, and have been calling me to collect on payment they have received ever since. Every month I go around and around with them, prove to them that they have my money, and then they call me again the following month.
Also, rather than actually call me, they have an automated system that calls, leaves a message to call back without saying who's calling, or what department. Then I have to call them, guess at which department to choose, and then wait on hold.
The real lesson learned here, is never ever to get a loan that is going to be sold. This information is required to be provided to the borrower by law, so you can find out the chances of your loan being sold before you get it. Do not get a loan that will be sold. At best, if all goes well it is a small hassle.
Oh, also, I forgot what caused all of this in the first place. I use online bill pay. I set up an automated payment to the address listed on their statement. They sent the money back, of course with no comment. After starting to get the calls I found out that the issue is that they do not take automated payments at that address; they want them sent to another address.
Washington Mutual or Charles Schwab Bank are two that I know of that don't, or very rarely sell loans. I can recommend either of them based on my experiences.
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