Posted by MonicaFL on 5/21/12 3:55pm
Msg #421440

GMAC Mortgage

I have my mortgage with GMAC and just today received a letter that their Capital Company, Residential Captial, LLC (ResCaP0 are declaring Chapter 11 Bankruptcy. Just thought I would throw this out there.

Reply by 101livescan on 5/22/12 7:31am
Msg #421481

GMAC is my secon lienholder on my primary residence. LOC is frozen. Oh, well, had no plans to use it any way, trying to pay it off! Sign of the times.

Reply by mtnotary on 5/22/12 10:17am
Msg #421491

My mortgage is also with GMAC. They also have my escrow. Sure hope they plan on paying my property taxes this month.

Reply by pan/nd on 5/22/12 12:01pm
Msg #421511

Chapter 11 shouldn't have any effect on you.

11 is reorganization bankruptcy to keep the company afloat.

Chapter 7 is much more worrisome and can involve liquidation...but this is 11 not 7.