Friday, September 24, 2010
GMAC Mortgage places moratorium on foreclosures
This moratorium could last until the end of this year and only time will tell if its past actions could prove to be very costly. Link to NYT article (After opening link, if ad pops up click on "Skip this ad" to read article.
The foreclosure debacle seems to have no end. Hillsborough County has 33,000 pending foreclosures with new ones added on a daily basis. Now, three congressmen have inquired why Fannie Mae is using law firms "that are accused of regularly engaging in fraud to kick people out of their homes". More on foreclosures