Ditech

Ditech.com, which contributes a big share of General Motors' profits lately, has left a lot of angry consumers by the side of the road, including those below:

Susan of Haslett, MI March 24, 2009

Susan of Haslett MI (03/24/09)
March 24, 2009: I started the process for a refinance to pay off credit cards over 2 months ago, the people involved do not call back, even the supervisior doesn't call back and they do not return emails. The only word that I have heard it that It is at the Underwriter's, but no date. Meanwhile I have had 2 appraisals and Ditech's deal is that if you stop the process you pay for the appraisals which is arond 500.00 I am to the point where I think I have to lose thew 500 and go to another company.

My car lease is up and due to high credit card debt which I was going to pay off with a new mortgage, I cannot get a car loan. I have income and money in a retirement account and equity in my home - but still I am in this position due to Ditech. I am now thinking that they never intended to give me a mortgage and simply collect the appraiser's fee of 500.00

I am unable to obtain a lease car or a loan to buy a car. My payments are so high, I hardly have enough to eat - medical service is out entirely, no money for doctors or medicine - I am 67 years old.

Gerald of Rosemont, IL March 21, 2009

Gerald of Rosemont IL (03/21/09)
My home equity credit line of 200,000 (which I had not yet used and had paid the annual fee for since 2006) was completely frozen. Ditech sent me a letter saying it was due to generally declining home values in my area and had nothing to do with anything wrong that I had done. They then required that I pay for an appraisal AT MY EXPENSE by one of 2 companies that they required do the appraisal. The cost for this appraisal is approx 500.

I refused to pay for this but wanted the credit line reopened, and sent a letter to DiTech offering for them to pay for the appraisal, but of course they refused. After all, what is to keep them from requesting another appraisal at my cost in 6 more months? Or 6 weeks? I never agreed to this in my loan documentation! DiTech has illegally frozen my line of credit and they have no legitimate source to claim that my home has declined in value by enough to completely freeze my heloc.

I am unable to take advantage of business opportunities in this economy. My plan was to use this home equity line to purchase foreclosure or other distressed properties, or to improve a rental property I currently own. I am unable to do so as a reult of DiTech's illegal freezing of my credit line.

Albert of Phoenix, AZ February 23, 2009

Albert of Phoenix AZ (02/23/09)
On 12-30-08 @3.25pm I contacted ditech to see if I could reduce my interest rate to what I had just seen on one of their tv add 5.12% a rep for ditech named Marchelo said that the only way was to refi my home and combine their loan together. I told him that the home loan would be paid in off in 12 years. Why would I want to get into a bigger mess and refi to a higher loan rate? I just whanted to get their advertisement rate, 1 hour later I was so frustrated and got no response.

I'v tried to pay off my acct for 2 months, everytime I call to get, the payoff amount they let me know it the total was 35,732.75 I sent a chec for that amount. Next letter said you owe us 238.30 so I sent the 238.30 next letter said you still owe 11.58. I called to find out why I still owe 11.58 I got nowhere and no supervisor to speak to. I left a message with a rep and still no one has called. just wanted to let you know that [they] have lousy service and I never want to do business with company ever. and I will let family and friends do the same.

frustration to the max. wasted time without any actual satisfaction of any kind with my account. two of the most miserable hours talking to people that dont even know English. I bet they are hired out of the USA cause they need to take all of our jobs from the American people. have incompetant people working there.

Scott of Riverside, CA February 21, 2009

Scott of Riverside CA (02/21/09)
just received mass mailed letter from ditech informing me they have frozen my 100,000 credit line to protect me! i have 80,000 equity still in my home. i now have to requalify and pay for an apraisal for them to see if they will unfreeze my line of credit.i never had a late payment with them or any of my creditors. my fico was 830 until these ass holes froze my credit line. this same company just went begging to washington for a 5 billion loan.i will now do a refinance just to get rid of this company. it will cost me thousands of dollars but i rid my self of a company that from the time i got my loan 2 years ago has been nothing but incompetent. the american consumer is getting a royal screwing from banks,credit card companies,wall street,and washington.i warn you do not use ditech!

Tina of Bernville, PA December 18, 2008

Tina of Bernville PA (12/18/08)
This is in response to all the Ditech complaints. First I have seen many state things about GM. GM doesn't own Ditech. GMAC owns Ditech and GM sold GMAC a few years ago. GMAC is owned by Cerberus the same co. that owns Chrysler and Air Canada and SpyGlass entertainment. They are an investment co. You can see their website and what they own by going to cerberuscapital.com I hear complaints time and time again about how could GM do this and they are corrupt. Blah Blah but GM doesn't own GMAC or Ditech. So please complain to the correct co. and about the correct co.

The 2nd issue is Ditech and GMAC do suck. We have had nothing but issue after issue with GMAC and I refuse to do that direct take out of my account cuz of others horror stories. So we are in the process of refi with Quicken. We had a refi with them in 2004 and they treated us great and everything went perfect. The only downside with Quicken is the int is a little higher than Ditech but if you tell them what Ditech will offer then Quicken will match it.

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