I closed escrow on the sale of my house on 08-01-07. GMAC Mortgage automatically applied a $16+ Thousand dollar pre-payment penalty to the pay-off amount on my mortgage.

My mortgage DID NOT have a pre-payment penalty based on my originating mortgage broker and GMAC customer service department and told me my loan was an "SOFTLOAN".

GMAC - Had to have a "Contract specialist" look at the contract (took three weeks- after closing esrow) to determine if in fact there was a prepayment penalty; If the contact is this vague that the originating mortgage broker and customer service department all told me it DID NOT have a penalty, this is FRAUD!

Thanks,
Concerned Consumer.