Mortgage company GMAC stealing my home?

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Mortgage company GMAC sent me a letter giving me till January 2010 to move out. They will pay off balance and it will not effect my credit. Here’s the strange thing about this, we have never missed a payment and are not behind. Can they force us out of our home? We will loose all of our equity. Should we get a new loan?

7 Comments
  1. Reply
    zeuz
    May 16, 2011 at 5:41 am

    Remember that Obama owns GMAC now. He wants your home.

  2. Reply
    Steve D
    May 16, 2011 at 5:47 am

    Contact GMAC immediately (use the 800 number off your statement, not off the letter they sent) – unless there is some clause in your mortgage that allows them to call the loan, this does not sound legal, however, I do not have access to your mortgage agreement nor the letter they sent.

    You may also want to consult with a lawyer as soon as possible.

  3. Reply
    aishamodelchic
    May 16, 2011 at 6:34 am

    Sorry I don’t know much about homes, being I am not a homeowner, but it sounds like they are about to do build something on the land that you are on, and they want you gone.

    Something similar to this happened to my friends grandmother and they offered to pay off her home and give her some money for her to move. They wanted to tear down her house and turn the land into a parking lot.

    Sorry if this wasn’t helpful.

  4. Reply
    Norm W--- rocks :-)
    May 16, 2011 at 6:55 am

    Yahoo Answers is not the place to get advice for this question.

    Get on your computor right away and search for a good real estate attorney in your area.

    DO NOT WASTE TIME !!!

  5. Reply
    Lisa L
    May 16, 2011 at 7:31 am

    This is either a scam or you are not telling the entire story. Use the number on your monthly statement to call them. If it is true, call your local TV stations, newspapers, radio stations, state office of finance…get the word out. Get a good lawyer if it is true.

  6. Reply
    DebbieA
    May 16, 2011 at 8:18 am

    They can’t do that arbitrarily. There has to be something in your loan papers or there has to be something else going on. Like everyone else said, call the number on your statement to find out. I would be very curious

  7. Reply
    Eddy T
    May 16, 2011 at 8:41 am

    Check your mortgage agreement. Is this a home to let mortgage agreement. Also check with them asap.

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