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Real Estate & Property Law

: The Home Equity Theft Reporter

GMAC Calls Off Foreclosure Actions, Suspends Pending REO Sales In 23 States, Letting Buyers Back Out Of Deals; Cites Need To Take "Corrective Action"

By r morris

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Bloomberg News reports:Ally Financial Inc.?s GMAC Mortgage unit told brokers and agents to halt foreclosures on homeowners in 23 states including Florida, Connecticut and New York.(1)(2)GMAC Mortgage may ?need to take corrective action in connection with some foreclosures? in the affected states, according to a two-page memo dated Sept. 17 and obtained by Bloomberg News.Ally Financial spokesman

Full post as published by The Home Equity Theft Reporter on September 21, 2010 (boomark / email).

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