Taking a long shot here - Did anyone have a mortgage w/GMAC until GMAC's bankruptcy?

[sorcerormickey]

I was just wondering if anyone here had their mortgage with GMAC up until GMAC's bankruptcy last year? I am concerned about receiving a 1099 from them for tax purposes.

Did anyone use GMAC and get their 1098?

 

[Sandy61]

Yes, we did. DH says it was not last year but longer ago. We should not have 1098 from them.

 

[EKimberlyE]

We had a mortgage with GMAC mtg and haven't received anything from them or from Ocwen who took over the account.

 

[sorcerormickey]

Yes, we did. DH says it was not last year but longer ago. We should not have 1098 from them.

It was as of Feb 2013 for us. So January 2013 was still paid to GMAC.

 

[sorcerormickey]

We had a mortgage with GMAC mtg and haven't received anything from them or from Ocwen who took over the account.

Ours is now with Ocwen too. We finally received our Ocwen 1098 in today's mail.

I am very concerned about this GMAC document. If the company no longer exists, who is going to mail out this form and when?

 

[dhdozier]

Same here! We haven't received any documents from either though. Not sure who to contact about that either. I hate tax season

 

[lindsey]

Me too. Just got the OCWEN 1098 yesterday. I had set up an online user id once I finally got paperwork saying who did have the mortgage, but the website said the 1098's were mailed and unable to retrieve online. I wonder of the OCWEN has all of 2013 interest?

 

[gracie1]

I had homeward residential which was taken over by ocwen. I received my 1098 from ocwen a week ago and received the 1098 from homeward last week. So you should be receiving two seperate 1098's.

 

[fofinia]

Well your post made me go and check my Online Ocwen acct. I have two 1098 with identical federal identification numbers. Two different amounts of interest paid. Totaled together they equal right inline with our numbers from last year. So it seems to me it is all included. Not sure why there are two. No explanation or anything.

 

[sorcerormickey]

Well your post made me go and check my Online Ocwen acct. I have two 1098 with identical federal identification numbers. Two different amounts of interest paid. Totaled together they equal right inline with our numbers from last year. So it seems to me it is all included. Not sure why there are two. No explanation or anything.

Yes, I received 2 in the mail from Ocwen as well. Both in the same envelope with the new statement. There was also a slip of paper explaining there would be 2, but no reason why.

 

[vicki_c]

We had a mortgage with GMAC mtg and haven't received anything from them or from Ocwen who took over the account.

Thanks for confirming! I'm so aggravated. I went on their website (Ocwen) and it says "no tax forms" on my account and I didn't think I got them with the statement. Then it has some stupid message about 7 minutes to retrieve your forms,but nothing every happened and it says they were mailed as of 1/31 but I have nothing yet.

I want to do my taxes! I tried to call them yesterday, but hung up after 45 minutes on hold.

I also had GMAC and paid at least January if not January and Feb to them. Ocwen's site says they (GMAC or other previous lien holder) will be senidng separate tax forms.

 

[Pakey]

I had GMAC and then OCWEN. I have received 2 1098s, the GMAC one says it's from
OCWEN and the OCWEN one says OCWEN LLC. They came together in same envelope with the payment coupon for my March payment. I got it last week.

 

[sorcerormickey]

I had GMAC and then OCWEN. I have received 2 1098s, the GMAC one says it's from
OCWEN and the OCWEN one says OCWEN LLC. They came together in same envelope with the payment coupon for my March payment. I got it last week.

Is the Ocwen supposed to be the GMAC one? The amount of interest on that document is many times higher than what it should be for just one month.

 

[Pakey]

Is the Ocwen supposed to be the GMAC one? The amount of interest on that document is many times higher than what it should be for just one month.

The one that was GMAC said OCWEN. The OCWEN one said OCWEN LLC. Both have same address. The OCWEN one was one month of interest; the OCWEN LLC was 11 months of interest.

They were so identical and in same envelope that it took me awhile to figure out why OCWEN sent 2. The only difference, besides amount, was the LLC on corporate name.

 

[DetroitDisney]

Worst case scenario, use your previous mortgage statements to verify interest paid. Just make sure you save them in case you get audited, which is still unlikely.

 

[sorcerormickey]

The one that was GMAC said OCWEN. The OCWEN one said OCWEN LLC. Both have same address. The OCWEN one was one month of interest; the OCWEN LLC was 11 months of interest.

They were so identical and in same envelope that it took me awhile to figure out why OCWEN sent 2. The only difference, besides amount, was the LLC on corporate name.

You are right! I found on the Ocwen site that it covers both Ocwen and GMAC, so mystery solved.

However, the GMAC one is for 4 times the amount it should be, but combined with the Ocwen one, it adds up correctly.

Thanks Pakey!

 

[Pakey]

You are right! I found on the Ocwen site that it covers both Ocwen and GMAC, so mystery solved. However, the GMAC one is for 4 times the amount it should be, but combined with the Ocwen one, it adds up correctly. Thanks Pakey!

I'm glad I was of some help. Why OCWEN didn't throw in a short note explaining it remains a mystery. I'm sure there are plenty of confused people.

 

[lauradis]

Just for everyones info Ocwen is really bad posting payments on time unless your signed up for their auto payments.

 

[emilymad]

Yes, I received 2 in the mail from Ocwen as well. Both in the same envelope with the new statement. There was also a slip of paper explaining there would be 2, but no reason why.

Thanks for mentioning this! We had received our 1098 yet and I was getting worried. Digging through last months statement I finally found it. We only have one form but I can't remember when we got switched to Ocwen.

 

[vicki_c]

I just wanted to update my own situation, because it was a little different than what others posted here (so in case anyone else has weird things!).

Today, 2/5/14, I received:
- 1098 and 1099 from Ocwen in one envelope - covers both my GMAC and Ocwen payments for all of 2013 and it's just one 1098 and one 1099.
- my regular monthly mortgage statement dated 1/18/14 - for my payment that was due 2/1/14. So I got the statement 4 days after the payment was due!! This was in a separate envelope.

If I look online at the Ocwen site - I have no tax forms available at all, and when I look at the 1/18 statement online as a .pdf - there are no tax forms with it. So good thing they showed up in the mail.

It definitely seems like they are having some kind of issues - I have never received my monthly statement after it was due. I thought I misplaced it or something because I couldn't find it when it was time to pay my payment.