GMAC's misleading & deceptive practices

[Joel Fraser]

First, thank you for a creating such a great, positive source of information. And second, thank you for letting explain my predicament. :o My loan was being serviced by GMAC. I got behind on payments, and GMAC offered a workout plan, that in writing, states: If I make six scheduled, regular payments, they will: A) Add the delinquent balance to the balance of my loan; B) Show my loan is current; C) Create a new impound account for taxes & insurance if one does not already exist. I have a signed contract verifying this. I made the six payments via Western Union, as scheduled, and all were accepted. In month five, GMAC transferred the servicing of my loan to Green Tree Servicing. Green Tree has filed a foreclosure on my property, and tells me that, by law, they do not have to honor my agreement with GMAC. (I have asked three people at Green Tree what law they're quoting, and none know.) They tell me their system does not allow them to add the delinquent balance to the end of my loan, and my only option is to make up the delinquent payments in four installments, which I cannot do. I have made my regular payments to Green Tree, but they have not accepted them. I contacted GMAC, and they tell me that my workout plan was simply a "trial" modification. NOWHERE on the contract that I have does it state or imply that. They tell me they have no control over what Green Tree chooses to do. I am faced now with this....I can spend my mortgage payment on an attorney &/or loose what little equity I have (if any) paying for an attorney to fight over what seems to me to be a blatantly obvious right of mine. Or I can walk away from my home & let corporate America roll right over me. :confused: FYI...the reason I got behind in the first place involves fraud and a major RESPA violation against me. The DA here in San Diego took a year to tell me that although they are 100% certain someone commited fraud against me, there are just too many people that could have done it, and no way to figure out who. The investigator never even questioned the lender or escrow agent...anyway, more on that if anyone's interested. :(