FORECLOSURES STOPPED FINALLY!
The Attorney General in Connecticut, Richard Blumenthal, is investigating GMAC Mortgage, which is one of the nation’s biggest servicers of home loans. He claims that there are defective foreclosure documents. Foreclosures Stopped – Finally! around September 20, 2010.
Connecticut’s Attorney General is insisting that GMAC Mortgage, which is a unit of Ally Financial Inc., stop all foreclosures in the state. Of the Foreclosures Stopped in 23 States – Connecticut is one them.
Foreclosures Stopped – Bank’s Failure To Follow Basic Legal Procedures
It is my understanding that he stated “The bank’s apparent failure to follow basic legal procedure — a potential fraud on the court — is appalling and unacceptable” and went on to say “Our investigation will enable strong legal action against GMAC/Ally, if warranted by the facts and the law. I will fight to assure the banks comply with clear legal requirements that protect homeowners from unfair foreclosures of their homes.” Like I said earlier – Foreclosures Stopped Finally!
The company said it was suspending sales of foreclosed homes and the company also declared a suspension on evictions of homeowners – in other words Forclosures Stopped – who have fallen behind on their mortgages in 23 states, including Connecticut.
Several Cases Withdrawn – Foreclosures Stopped!
GMAC said the moratriums were implemented to give it time to review its procedures on foreclosures. A week earlier several law firms representing lenders in GMAC foreclosures withdrew their cases against borrowers. Forclosures Stopped in 23 States!
On Friday a statement was released and the company said the substantive contents of the affidavits in question were accurate regarding the facts and its review which they conducted internally thus far had revealed no evidence of any factual errors regarding the details typically contained in foreclosure affidavits.
It is my understanding the company also said it believes defects occurred in some, but not all foreclosures in the 23 impacted states. The problem was identified and addressed a few months ago, the company said.
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Foreclosures Stopped – What About Yours?