elder abuse
A volunteer in Chicago claims that her client, a 65-year-old woman with dementia, was given a GMAC auto loan for a new 2007 Pontiac, even though she only makes $900 a month and has no driver's license. Now the car has been repossessed and the car lot is saying she owes them nearly $8,000.
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the new redlining
Prospective home buyers may need to
pony up more cash up front to secure a mortgage if they are looking to buy in one of hundreds of zip codes that lenders now consider "soft markets." Countrywide and GMAC recently ranked over 1,000 zip codes on a risk scale of 1-5. Lenders to moderate risk zip codes, ranked 1-3, may require borrowers to pay an additional 5% down payment. Unlucky buyers in high risk zip codes, ranked 4 or 5, are now automatically required to put down the extra 5%.
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insurance
The gauntlet has been thrown, our thrifty friends. Jeff Jarvis
writes:
My father got a pitch from LowerMyLease.com, owned by ACS, which promises to lower his car least by almost half. I can
t find the trick. The means either that the GMAC lease he has is so stuffed with margin that it
s easy for another company to come along and do this
or that there
s a trick or hidden fee here I can
t find. Any wiser minds than mine able to figure this out? Is this a case for Consumerist?
We're already digging, but feel free to chime in with your wisdom.
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Consumerist
