WASHINGTON — GMAC Mortgage says it will review all its foreclosures nationwide to determine whether documents contain errors. But it's stopping short of a nationwide foreclosure freeze.
The company says its review will determine whether foreclosures in all 50 states were handled according to state laws.
GMAC's move expands its response to evidence that its employees signed foreclosure documents without reading them. GMAC is still initiating foreclosures nationwide. But it's stopped evicting homeowners and selling foreclosed homes in the 23 states that require judges' approval.
GMAC, owned by Ally Financial Inc., is among four major lenders that have acknowledged problems in handling foreclosure documents. So far, only Bank of America has stopped seizing foreclosed homes nationwide.
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http://www.deseretnews.com/article/700073068/GMAC-to-review-foreclosure-...
WASHINGTON — GMAC Mortgage says it will review all its foreclosures nationwide to determine whether documents contain errors. But it's stopping short of a nationwide foreclosure freeze.
The company says its review will determine whether foreclosures in all 50 states were handled according to state laws.
GMAC's move expands its response to evidence that its employees signed foreclosure documents without reading them. GMAC is still initiating foreclosures nationwide. But it's stopped evicting homeowners and selling foreclosed homes in the 23 states that require judges' approval.
GMAC, owned by Ally Financial Inc., is among four major lenders that have acknowledged problems in handling foreclosure documents. So far, only Bank of America has stopped seizing foreclosed homes nationwide.