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Recently I got a letter in the mail from GMAC Mortgage stating that my escrow account is $3200 short for this year". As a result my payments are going up over $400 a month/. Right now our escrow account has $1600 and will have $2200 when our taxes become due?. I live in Wisconsin and come January 31st we have to pay 1/2 of our taxes and not the full amount,. So, on January 31st we owe $1800 and not the $3600 they think we have to pay|.The way my math works, $2200 is over $1800 so we have more money in our account than is currently needed for our taxes, but to them and their customer service, we owe 3,230 to cover the escrow shortage!!!! WHAT SHORTAGE???
I spent over 2 hours on the phone with them yesterday and was even hung up on by a manager because she could not understand what I was saying about only having to pay 1/2 our taxes in January!. I am so completely fed up with this company that we are considering refinancing with another company just to get away from them?. On top of this, they will not let us waive our escrow account so that we can just take care of it?. It is such a joke!!! 12874c0
 Comments (12) |
| 1. Written by Joseph W. Grace on February 9, 2012 from cleveland, ohio, US I have paid my taxes and insurance with GMAC since 2004. Someone started an escrow account in my Name for taxes to be added to my payment,due to a recording error on my part. My taxes are paid-up to date for the lst half of 2011 as required by law, my balance is "o". Per a phone conversation to This department, The GMAC escrow amount paid was to be requested " Returned To GMAC " and the escrow account closed. As YET no communication from GMAC 2/9/2012. I would appriciate this be taken care off ASAP. I do not want or need an escrow account.... I wish to be contacted by phone. Thank You |
| 2. Written by Ms Vicky on February 2, 2012 from glenwood, minnesota, US GMAC Mortgage created an escrow for me after 19 years of living in my house and paying my own taxes. They won't cancel, they can't do math, that's for sure. They $500 per month on a $3600 property tax bill for the whole year. If you call, it's a joke, they transfer to different departments, and they can not speak English. GMAC must have a class for all employees on how to be the worst customer service in the world. They are my worst nightmare and now have my credit all screwed up. |
| 3. Written by David F. Dale Sr. on October 23, 2011 from atlanta, georgia, US Statue of my Oldham County tax bill. |
| 4. Written by GMAC Foul on March 5, 2011 from carlisle, pennsylvania, US This same thing happened to me, in which I remedied with a sharp, and professionally harsh letter. In which, I stated I had proof in which I did have proof that they have poor business practices. My refi with them took over 8 months to complete, which I documented. Within the 8 month refi they analyzed away over $1400 of my money in regards to setting my escrow up in the first place, I asked for that back. I also told them their analysis was basically bogus in so many words by providing documentation from my municipality and insurance company that they should have reviewed, which took some time to gather. Then I requested that they pay my time spent. Needless to say with the letter they agreed to not only keep my monthly payment including escrow the same they reduced it by 15 bucks. I smell foul, and I am still considering to take them down, if they try to pull another stunt. Fight for it! Even though you are the customer,and the customer should be taken care of by the mortgage co. I must say GMAC is a crappy mort company overall, but I knew that going in. I simply wanted to beat them up with their own *** business practices. |
| 5. Written by Petterml on March 1, 2011 from hastings, minnesota, US Also, Beavis clearly cannot understand what the situation was at least for me. My taxes never increased, nothing changed except for the fact that when GMAC purchased my mortgage they changed the rules of what I had actually signed. This is not right. If my state and all my ppwk from closing says that I pay my taxes in 2 installments with the state than how can a company just purchase my loan and change what I had signed and agreed to? |
| 6. Written by La La on February 28, 2011 from cleveland, ohio, US Beavis, explain why GMAC reps cannot speak english or understand reading notes on my account from other illiterates. If they can explain and provide interest to meon this cushion, they can hold onto it. |
| 7. Written by Scansisco on February 12, 2011 from ossipee, new hampshire, US GMAC has been paying my mortgage and that of the condo downstairs! Once in 2009 they only paid downstairs, so when I went to City Hall, I found there was a lien on my property. They paid the bill plus all of the penalties out of my account. Thus, when I got the letter that apparently everyone got about the escrow being short, mine was for over $8000, and it still was listing the taxes due downstairs. I'm afraid it is time to go to court. |
| 8. Written by Petterml on December 7, 2010 from hastings, minnesota, US Missy, I know it can be frustrating. However, it also appears our situations are a little different. In mine, my taxes never changed they had actually decreased. What GMAC did was say even though your contract with us and the State of Wisconsin allow you to pay your taxes in 2 separate payments we won't let you do it this way. My state allows 1/2 the payment to be sent in by Jan. 31 and the other have by July 31st. This is how we were set up from the beginning. GMAC decided to make their own rules after they bought our mortgage from another company and tried to enforce them upon us. Instead of laying down and letting them jack up our payments we worked it out with our original mortgage agent whom refinanced for free and we went with Wells Fargo which has been great ever since. I would never work with GMAC again in my lifetime, they almost caused us to lose our house because we could not have afforded to fork over that much money at the time and would have had to make a decision. Thank God for our broker that helped us out because I don't know what I would have done. Good Luck. |
| 9. Written by Missy on December 5, 2010 from indianapolis, indiana, US I got a letter this year to advise the same - they said my taxes had gone up and now instead of $1,014 a month they require $1,700 a month - what happened to the affordable $1,014 a month. They are they pros how could they tell me what my payments would be with all facts at hand then send a letter saying I need to pay over $5,000 by a certain date or my monthly payments will now be $1,700 a month. I cannot afford that and if they would have told me that at the start I would not have purchased. How can the taxes have changed so much - was this deceipt from the start ? |
| 10. Written by Petterml on April 24, 2009 from danbury, wisconsin, US Again, the math I am using is based on our "contract" that we signed with the company GMAC. It is not my own math. They decided to change the terms after we had a signed contract with them. When they purchased our mortgage, they just changed the terms. OUR MATH WAS CORRECT WHICH IS WHY THE DEALER REFINANCED FOR US FOR FREE AND NOW WE HAVE NO PROBLEMS WITH WELLS FARGO. I know how escrow works, and I can read our contract. What they were saying was inaccurate based on our contract and to me is criminal because they just changed the terms. WE WERE NOT SHORT ON ESCROW!!!!!!!!! |
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