My mortgage company sold and i dont know what im suppose to do!
@moonlitmagikchild (22181)
United States
November 21, 2008 9:56pm CST
gmac got taken bought out by midland mortgage company and they gave me FIFTEEN days notice on the switch!! the PROBLEM is i have my house on equity excellerator which takes out money (and some extra to where it makes a full extra payment a year and will shorten my mortgage by at least 7 years) from my bank and makes the payment to gmac.. well do i need to tell my equity excellerator people that gmac got bought out? they will be paying them on the 1st and if they have some standard delay then i will have my money sent god knows where and i will have to make an extra payment to the new place and i barely have enough to make the actual payment!! 
and of course i find out on a FRIDAY with less than 15 days till i can get a hold of anyone so if there is a delay im definitely screwed!! im so mad!! gmac is still advertising cd's and etc on tv and i never heard of any news on gmac being bought out so this came out of no where because i have been trying to keep an eye out in case this did happen so i could act pronto!
i would want to assume that they would know how to switch everything over BUT i know when we switched home insurances the equity people didnt have enough notice or something and so they paid the old people and the new people wanted to know why we didnt pay them and we almost lost coverage due to the mix up.. i ended up paying the whole year out of my pocket (its included in the payments they take out of my bank so i never have to pay it all at once) to the new place and get a refund from the old place.. i barely had the money then so if i have to do something like that this time im gonna be screwed!!
anyone go through this yet? do the equity excellerator people get notified like we did? i am going to call them asap when they are open but till monday i will be stressing on this so if they are usually good about it it might keep me calm till then.
and of course i find out on a FRIDAY with less than 15 days till i can get a hold of anyone so if there is a delay im definitely screwed!! im so mad!! gmac is still advertising cd's and etc on tv and i never heard of any news on gmac being bought out so this came out of no where because i have been trying to keep an eye out in case this did happen so i could act pronto!
i would want to assume that they would know how to switch everything over BUT i know when we switched home insurances the equity people didnt have enough notice or something and so they paid the old people and the new people wanted to know why we didnt pay them and we almost lost coverage due to the mix up.. i ended up paying the whole year out of my pocket (its included in the payments they take out of my bank so i never have to pay it all at once) to the new place and get a refund from the old place.. i barely had the money then so if i have to do something like that this time im gonna be screwed!!
anyone go through this yet? do the equity excellerator people get notified like we did? i am going to call them asap when they are open but till monday i will be stressing on this so if they are usually good about it it might keep me calm till then.No responses
