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:

Cheryl of Banning, CA December 8, 2008

Cheryl of Banning CA (12/08/08)
No last names were provided and phone calls have not been returned. My home sustained extensive damage due to a car driving through my house. The kitchen waS DESTROYED. Ditech has had the entire amount. %32,000, of the claim for a month. They were supposed to mail an installment of 10,000 which has not been received.

Due to their delay I have been living in my home with no kitchen. It is now getting cold and my front wall is currently plywood and plastic because they have held onto my insurance money. This is causing my home life to be difficult and uncomfortable and is also causing emotional distress.

James of Grandview, MO November 7, 2008

James of Grandview MO (11/07/08)
I was set up for a 30yr fixed loan at 632.00 a month and 744.00 with and escrow acct for taxes and insurance. after a year of paying 744.00 a month I am sent a new statment now for 1,000 dollars a month. I called ditech tax department and we went round and round before the young lady tells me that it was thier fault but I sign up with them and there is nothing they can do about it.

I live off of a disability check. and I just can't aford to nimble my fiances by three hundred dollar and driven out of my home like so many people.

Robert of Browerville, MN November 4, 2008

Robert of Browerville MN (11/04/08)
A few days ago I decided to call Ditech about getting a mortgage, the person I was talking with started asking starnge questions like how much are the houses worth in my neighborhood (how would I know) also I wanted to borrow over the amount of the mortage to do some house repairs such as a new roof,

this is where it started getting stranger, after telling the guy I needed a new roof he wanted to know if it was leaking and if so what color was the water stains on the ceiling, when I told him I didnt know and didnt have time to go inspect the colors of the stains he told me that he is going to cancel my application because they dont do mortages on homes with leaks. Now, I never ever been treated like this before and asked such stupid questions. As far as im concerned Ditech is such a fly by night rip off.

Gs of Honolulu, HI October 29, 2008

Gs of Honolulu HI (10/29/08)
I had a floating rate on a 30-year fixed loan for 45 days. I wanted to wait for the best possible loan rate before I closed my refi home loan. I was told that Ditech would call me when the rate was below 5%. Fortunately I was also checking quite regularly and found a 4.875% rate on a given day. I called Ditech because I knew they weren't going to call me. I locked the rate via telephone but was told several days later that I had actually got a 5.125% loan (not APR). I complained but was told that there was nothing that could be done. I called the district manager's cell phone while he was on the golf course and complained. Long story short, I got the rate that I asked for but I had to complain about it as well as research it for myself. If I absolutely can avoid it, I wouldn't do business with them again. I eventually sold the house.

Justin of Lesburg, FL August 28, 2008

Justin of Lesburg FL (08/28/08)
An existing ditech customer with an excellant payment and credit history. I built my custom dream home in 2007 using a construction loan from IndyMac Bank. at the end of the construction process, the construction loan converts to a permanent mortgage at no charge. I was solicted a lower interest rate by Alex of ditech on 12/12/07 and on 1/16/08. I thought at the time that this was worth looking into. I made it clear to him that if he wanted to close a deal that it needed to move quickly because I would have to pay interest on a construction loan that I did not convert to a permanent mortgage with my existing lender. He politely told me that being an existing customer, it would not take three weeks and so I began the paper work on 1/30/08.

The next two months were spent reapplying for the same loan for some odd reason, always a different one. I made it very clear to my lending agent that time was up on construction loan and that I needed to move on or close a deal, He assured me that everything was ok and would close the following week. I was then notified by Scott of ditech on 3/21/08, he proceeded to tell me that in order to close the loan I had to sell my existing home that was carried by ditech. I then contacted Alex to remind him of the accruing interest on the IndyMac loan, he stated that the interest that had been accruing could be added to the mortgage. I sold the existing property which was lakefront and generating rental income.

I was then contacted by my loan agent Alex on 4/17/08 at 7:00 p.m. to tell me that they would loan on the property. I am in need of an attorney not because this process almost cost me my marriage but it did cost me 6,618 in interest on the construction loan and my Lakefront property. Every time i see that Ditech sleep easy loan with up front answers, It makes my blood boil.

Blindsided by a lender that chose to walk out on a deal that they solicited. Overnight out of pocket expenses 6,618. I almost lost my dream home that I had only been in for several months and sold income generating property.

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