If your a preferred agent with GMAC then you already know this but for those who aren't read below. This is going to get very interesting and I sense some major changes coming from this. I don't know if there's an active moratorium but we've been told that all of our assets were to be placed on stand by no matter what status theyre in as well as all CFK's and evictioons.
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GMAC Denies Reports Of Foreclosure Moratorium
Published September 20, 2010
| MarketWatch Pulse
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SAN FRANCISCO -- GMAC Mortgage on Monday denied reports that it was instituting a mortgage foreclosure moratorium in 23 states. "The speculation likely emanates from a direction previously given by GMAC Mortgage to certain of its outsource vendors to allow time to address a potential issue that was raised in a number of existing foreclosures challenging the internal procedure we used for executing one or more judicially required forms," GMAC said in a statement. GMAC said that "all new residential foreclosures are continuing in the ordinary course of business with no interruption in our usual practice."
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