September 21, 2010
Bloomberg News reporter Denise Pellegrini recently reported that, “Ally Financial Inc.â€™s GMAC Mortgage unit told brokers and agents to halt foreclosures on homeowners in 23 states.”
Illinois is listed among the 23 states. A two-page memo obtained by Bloomberg reported that the company will also suspend sales of properties that it has already foreclosed. The company will extend the closing date on all sales by 30 days. Buyers will be able to cancel their agreement to purchase and get their deposit back.
If you have secured financing through GMAC and with to learn more, you can read the complete article at: http://www.bloomberg.com/news/2010-09-20/gmac-mortgage-halts-home-forecl…