Ally Financial Inc., whose GMAC Mortgage. in 23 states including Florida, Connecticut and New York and said it may have to take “corrective action” on other foreclosures, according to a Sept. 17.
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Ally subsidiary GMAC Mortgage announced last week that it had suspended evictions and post-foreclosure closings in 23 states. Ally, formerly known as GMAC, for its foreclosure procedures. The home.
· When Ally Financial, formerly GMAC Mortgage, appeared to suspend foreclosure evictions in 23 states, they left out the ones where a judge is not required to sign off on foreclosures, including California, one of the four “sand states” with a massive amount of delinquencies and defaults.
Ally Financial. when it pursues foreclosure actions.” He asked for a meeting between GMAC and members of his consumer protection staff. GMAC Mortgage notified agents and brokers on Sept. 17 that it.
Ally Financial, formerly GMAC Mortgage, said previous reports of a foreclosure moratorium in 23 states are not true, and it is instead addressing an issue raised with the execution of one or more.
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GMAC, the mortgage unit for Ally Financial, has suspended foreclosures in 23 states, according to a memo sent to its network of brokers and agents Sept. 17.
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Ally Financial Inc.’s GMAC mortgage unit told brokers and agents to halt evictions tied to foreclosures on homeowners in 23 states including Florida, Connecticut and New York.
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Ally Financial Inc’s GMAC Mortgage last month said it had suspended some evictions in those 23 states where court approval for foreclosures is required. * JPMorgan Chase & Co said last month that it.
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· In 2006, a Florida court sanctioned Ally Financial’s GMAC Mortgage unit for faulty affidavits, and this month, the firm suspended evictions in 23 states.
The company, a unit of Ally Financial Inc., also said a review of cases in 23 states has found no evidence to date that the company has conducted any inappropriate foreclosures. GMAC and other mortgage lenders have come under criticism as evidence has surfaced that they have been using flawed court papers to evict homeowners.
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