Mortgage Daily Logo

GMAC Gets Green Light for Maine Foreclosures

Foreclosure

PORTLAND, Maine — A federal judge cleared the way Friday for GMAC Mortgage Co. to resume foreclosure sales and evictions in the State of Maine, which had been on hold for the past month. But the mortgage giant still faces a class-action lawsuit filed by several Maine borrowers, who allege that GMAC used fraudulent paperwork to illegally speed foreclosure cases through the state’s court system.

This wire news service story is no longer available.

However a copy might still be available at www.pressherald.com

Related Posts

What To Expect When Buying a Foreclosed House

What To Expect When Buying a Foreclosed House

When scrolling through the various real estate websites and apps, you may find properties marked “in foreclosure”. Often the prices on these homes are quite low and can even seem too good to be true. So, is a foreclosed house really worth considering? As with anything...

1 Billboard Inside Wilmington, North Carolina

1 Billboard Inside Wilmington, North Carolina

A delinquent borrower has paid for a billboard in Wilmington, North Carolina, in his effort to avoid a foreclosure on his delinquent loan with SunTrust Mortgage Inc. Scott Griffin had three loans with the Richmond, Virginia-based company as of 2007. One of the loans...

1 Billboard Inside Wilmington, North Carolina

Overcoming Statute of Limitations in Foreclosures

Challenges to mortgage lenders and servicers' right to foreclose based on the expiration of the statute of limitations are rapidly increasing in the Pacific Northwest and Southwest regions. Consumer attorneys are now representing borrowers in a winner-take-all bid to...

1 Billboard Inside Wilmington, North Carolina

Couple Claims Victory in 10-Year-Old Foreclosure

A Sound Beach, New York, couple fighting foreclosure for nearly 10 years "can finally close that chapter of their lives" now that their lender has missed court deadlines to continue the legal battle, the couple's lawyer said Tuesday. Fred and Theresa Tovar's mortgage...

1 Billboard Inside Wilmington, North Carolina

GSEs Announce Annual Foreclosure Moratorium

In what has become an annual tradition, the government-sponsored enterprises are suspending foreclosure evictions during the holiday season. The Federal National Mortgage Association issued a statement Monday indicating it will suspend evictions from Dec. 19 through...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam