Item 8.01 Other Events.

Residential Capital, LLC ("ResCap"), a subsidiary of Ally Financial Inc., did not make a semi-annual interest payment that was due on April 17, 2012 related to its $1,750,000,000 6.50% Notes due 2013, of which approximately $473 million of principal is currently outstanding, and pursuant to their terms currently bear interest at the rate of 8.50% per annum (the "Notes"), issued pursuant to an Indenture dated June 24, 2005 (as supplemented) among ResCap and Deutsche Bank Trust Company Americas, as Trustee (the "Indenture"). The Indenture provides that a failure to pay interest on an interest payment date does not become an Event of Default (as defined in the Indenture) unless such failure continues for a period of 30 days.