What happened to the GMAC bank?

Answer by  JohnC (131)

GMAC Bank was restructured as is now known as Ally Bank. It still honors all of its all agreements, which means if you had a loan with GMAC Bank, your loan is now handled by Ally, but its terms and conditions remain the same.

Answer by  tamarawilhite (17883)

If you had a loan with GMAC bank, the loan may have been bought by another bank as GMAC sold assets or been taken over by Freddie Mac or Gennie Mae. You still owe the money. However, you will owe payments to the company or organization that bought the loan note.