I got a 30 year mortgage from GMAC that according to their promises in writing before and at closing would not require hazard insurance. After closing and a year or so into he loan, they write to me requiring for me to get hazard insurance.
I showed the written agreement to the insurance officer and after months of arguing back and forth GMAC executive offices dismissed the paperwork against their position as an oversight error and insisted for me to get insurance with treats of damaging credit although I was ahead on my payments.
GMAC lured me away from a loan that did not require insurance by promising the same terms and a lower interest.
DO NOT BELIEVE GMAC in anything they write or offer, they will back out and make you go into a bad place.
Fighting them is useless as they will ruin your credit for a few dollars.
Gitano in Florida
Monetary Loss: $300.