A lawsuit filed Monday seeks class-action status for borrowers who sought loan modifications from GMAC but were denied the modifications without being given a written reason for the denial. The suit seeks an injunction against GMAC as well as attorney fees and damages from the economically bruised lender.
Chicago lawyer Daniel Edelman filed the lawsuit on behalf of Robert and Brenda Cole, of Gary’s Miller neighborhood. Edelman said the Coles took out a “predatory” loan through the now-defunct Ameriquest. The couple suffered through a “last minute” interest rate hike and bogus fees, Edelman said. Edelman said the loan was later taken over by the mortgage arm of Detroit-based GMAC, a lending firm that has now taken three federal bailouts.
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I need to get information on how to join or file a class action against GMAC mortgage. I have had it. I have an actual ulcer. I have just jumped thru every hoop they have requested and they don’t receive it in time, don’t receive a fax to the only line they have or it is unreadable and need it faxed again. I am tired. Today, I feel just a shimmer of hope finding this page. Finding Carl Persons sight about the 50 Attorney General giving the bad five banks a list of must do’s to stay in business. They have received bailouts and our government is letting them continue to take homes. Please any advice would be greatly appreciated. Oh, I did find an article on the Balboa Insurance Fraud also. I was pushed to go with that insurance several years ago. Is there any honest bankers out there? I just want one honest banker to refinance me at a reasonable rate and not 11%. Couldn’t O’bama challenge honest banks to refinance the ones who have been lied to and tricked and then charge the bad bankers a fee for doing the refinance or modification they should have already done. I think this might get their attention. Especially, if they receive a fine on top of the fee for each borrower that has to refinance with another company. Are we allowed to challenge the customer service agents that work for dishonest banks to call their Attorney General and make them aware of the terrible practices they are being told to do?