The U.S. government has ordered GMAC to raise $13.1 billion in new capital. Likely source for that capital? Uh, the U.S. government.
gmac
GMAC And Car Dealership Scam Old Lady For Nearly $8,000
By 4.2.08
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.
Mortgage Brokers Demand Higher Down Payments From Borrowers In Risky Zip Codes
By 2.2.08
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%.
Consumerist Research Team Assemble: LowerMyLease.com
By 12.19.05
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.
