I swear this is going to be the last post on this topic today.
Add two more states to the the list calling for foreclosure moratoriums due to the sloppy and allegedly illegal behavior of GMAC/Ally. GMAC/Ally is alleged to have cut corners in the foreclosure process and may have committed fraud or forgery in an attempt to speed foreclosures through the pipeline.
Now Rep. Gabrielle Giffords (D-AZ) is calling for a 90 day moratorium on all foreclosures in Arizona while the actions of foreclosure servicers are investigated. Giffords commented that servicers need to “address rampant problems that have led to homeowners being wrongly removed from their homes”.
Also, California Attorney General Jerry Brown is telling JP Morgan Chase to halt all foreclosures in California until this mess gets straightened out. Brown said “I’m directing Chase to prove it is following the law before it continues foreclosures in California”.
When you add in the report from the New York Times this morning that Old Republic Title Insurance is no longer selling title insurance on GMAC/Ally mortgages, you have the makings of a gigantic mess that could grind foreclosure sales to a halt. This is a family blog, so I cannot say what I really think about this situation, but let’s just say the first word that pops to mind rhymes with “blusterduck”. What a disaster.
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PJDJ01
October 2, 2010 @ 11:34 am
Does “lawyer’d up” rhyme with “blusterduck”?
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