Ally Financial denies foreclosure moratorium

 · The mortgage-foreclosure debacle, which started with a story about a GMAC “technicality” (and included a “GMAC denies foreclosure moratorium” story) but which quickly “ballooned” as more mortgage servicers were “implicated,” has now exploded into a full-blown “issue” of unknown proportions.

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WASHINGTON, Oct 11 (Reuters) – A U.S.-wide foreclosure moratorium would be “catastrophic” and. Other institutions, including JPMorgan (JPM.N) and Ally Financial Inc’s GMAC Mortgage, have announced.

GMAC denies the allegations. In at least six states, attorneys general are calling for foreclosure moratoriums and launching their own investigations. And this week, the attorneys general of up to 40 states are expected to announce a joint investigation into banks’ use of flawed foreclosure paperwork.

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Ally Principal Payments  · The news that GMAC, recently renamed Ally Financial, and JPMorgan Chase and Bank of America were stopping foreclosure proceedings in 23 states was merely the beginning.

Home foreclosure fraud? Call it in.. with lawsuits and demands for a foreclosure moratorium.. of America and Ally Financial’s GMAC unit have halted foreclosure actions in states that require.

 · 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.

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