Cal. orders Ally (formerly GMAC )Mortgage to halt all foreclosures!!!

[dixiegrrrrl]

Cal. is now one of 5 (?) states investigating illegal foreclosures.
The foreclosures are deemed illegal because the foreclosing entity has committed one or more forms of legal misconduct.

In the case of Cal. :
"California officials seized on reports that an Ally loan executive in Pennsylvania, testifying in a court case, said he signed off on tens of thousands of foreclosures without reviewing borrowers' loan documents.
"This admitted misconduct raises serious doubts about whether Ally Financial's practices provide California borrowers facing foreclosure the protections guaranteed by law," said a statement by Attorney General Jerry Brown.
Formerly known as GMAC, Ally is one of the top mortgage lenders in the state. Brown's office said California accounted for one fourth of the $26 billion in home loans the company made the first six months of this year."

http://www.sacbee.com/2010/09/25/3054814/state-targets-alleged-misconduct.html

[chill_wind]

1. K & R. n/t

[fasttense]

2. So, is this why we are hearing about people being foreclosed on

when they are not in the rears?