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11-11-2008, 07:32 AM
MedProf
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Join Date: Nov 2008
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What implications do the closure or failure of...
...GMAC Mortgage division have on GMAC Bank, which is FDIC insured?
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11-11-2008, 09:07 AM
Simple S
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good question, my mortgage is with GMAC.If GM goes bankrupt, most likely they will sell off divisions to pay off creditors. Someone will take over the servicing of the account.
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