Today, Bloomberg discloses that GMAC Mortgage, a unit of the affectionately renamed ally bank, has halted all foreclosures in 23 states, including Florida, Connecticut and New York. Who would have thought that being caught with your pants down, doing something so blatantly illegal as collecting on something you do not own, would actually have adverse consequences.
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JPMorgan became the second major lender after GMAC/Ally Bank to halt pending foreclosures, halting proceedings on 56,000 homes. This follows revelations that "robo-signer" "foreclosure mills.
– The Augusta Chronicle. As the Augusta Commission entered hour three behind closed doors Tuesday, the commissioner under discussion continued to deny claims he misused funds and public property at Jamestown Community Center.
Headley- A Trial Judge Orders A Mortgage Is Cleared, 12/12/13; Reverse Mortgages 101, 3/18/14; Mortgage Originations Plunge To Lowest On Record, 4/7/14; Mortgage Standards Are Plunging – It’s Muppet Fleecing Time All Over Again, 4/22/14; Valerie LOPEZ, reveals bank fraud on 97% of loans, 12/26/14; Dramatic Impact Of Surging Rates On Housing And Refis In One Chart, 12/6/16
This 23 minute presentation reviews the current debt situation in the US federal government alone. It does not address the local and state government debt situation. The source of the data is the United States Congressional Budget Office FY 2011 report.
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