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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:
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. Rafael of Casselberry, FL July 10, 2008
Rafael of Casselberry FL (07/10/08)
In or about Dec 3, 2008 I applied for a loan (refinance) with ditech at ditech.com. on dec 7 or 8 2007 i was told that my loan was aproved and that we will be doing the closing after the appraisal . the FIRST apprisal took plae and I was told to make some re-pairs to the house and schedule a second appraisal, I did, the I was told in January 2008 (first week) that there was still some minor items that needed to be changed. I did the changes and a third appraisal was done.
So from the las week in January 2008. to the secon week in march I was told almost on a weekly or twice a week that the closing will be NEXT TUESDAY but it never happened on March 11 I was told (after the 90 days locking term has expired) that I did not qualify for the refinence loan. After they ask me to send them my tax retur for the las 2 years in 3 diferrent ocations. Well I spend all my savings doing those small repairs (3500 - 4000) and now It cashing up with me. I will be falling behing on my mortgage starting this moths because now we have an overwelming credit card bill and zero savings. The house it not up for foreclosure but It will be a matter of time now.
I have not been able to keep up with Credit card payment now I owe about 19,000 and grows at a rate of 375.00 a month. Ed of Lancaster, CA July 5, 2008
Ed of Lancaster CA (07/05/08)
I paid my mortgage online one time and since then I do not get paper statements in the mail. Instead I have to go online to get a statement or to pay my bill. I used to do this during the week but for the past couple of monthes I have had to do it on the weekend. This is now the 3rd month in a row that the Ditech website has been down and unavailable on the FIRST WEEKEND of the month. To me this is totally rediculous.
The beginning of the month is when most mortgages are due and to not be able to pay the mortgage because the website is down then having to remember to pay it during the week is a hassle. I wonder if they are just hoping that some people end up forgetting and they can charge a late fee. Also, if you go to their website to pay by phone they will charge you an additional 7-15 dollars for that service. I bet they are making some good profits on this [bad] business practice.
James of Edgewater, FL June 17, 2008
James of Edgewater FL (06/17/08)
I have read with interest the persons having problems with Ditech/GMAC. I want to report that we are VERY happy with the service we have received from them.
Avery of Richmond, CA June 4, 2008
Avery of Richmond CA (06/04/08)
When I applied to refinance my loan through GMAC via DiTech, I was told in order to keep the interest rate offered I would have to put 500.00 on a credit to hold it. I did that and was told that it would be refunded to me at the closing of ther loan. I was told initially that my loan was denied, however, when I explained to them that I was not going to pay for a credit card account for approximately 11,000.00 because it was not mine the agreed to approve the loan.
When I received the documents It appeared that I did not get the 500.00 returned to me and they said they calculated within in the loan. Well, they lied and I never got my 500.00. I wrote several letters yet they still insisted that they returned the 500.00.
I was ripped off for 500.00. Dana of Las Vegas, NV February 10, 2008
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