Or indefinitely while the fraudsters are indicted…

Sorry, didn’t think this was going to hit until tomorrow…

Now remember, just to recap here, the links below cover the issues…

LINK – What, WHAT!!! RE: Jeffrey Stephan of GMAC – Florida Default Law Group Admits to Violation of Professional Conduct Code

UPDATED: ADDED GMAC’S URGENT LETTER TO BOTTOM OF POST From my dear friends over at the Hamlet… “Florida Default Law Group Admits to Violation(s) of Professional Conduct Code RE: Jeffrey Stephan Affidavits” Please note that Mr. Jeffrey Stephan also has answered interrogatories in many foreclosure cases.  It is unknown at this time if these will …

LINK – BREAKING!!! GMAC Freezing Foreclosures in 23 States to Take Corrective Action

UPDATED: ADDED GMAC’S URGENT LETTER RE CORRECTIVE ACTION  BELOW I wonder if this has anything to do with… LINK – Foreclosure Fraud – Titles Used by Jeffrey Stephan of GMAC ~ What, WHAT!!! RE: Jeffrey Stephan of GMAC – Florida Default Law Group Admits to Violation of Professional Conduct Code ~ LINK – Highlights From a Deposition…

LINK – I Smell Bullshit – GMAC Mortgage Statement on Speculation Related to Foreclosure Moratorium

Check out the language here. they are trying to back peddle and spin the original story from earlier today… MINNEAPOLIS, Sept. 20 /PRNewswire/ – Recent reports have stated that GMAC Mortgage instituted a moratorium on all residential foreclosures in 23 states.  This is not true.  In fact, all new residential foreclosures are continuing in the …

LINK – HERE WE GO!!! Moratorium NOW – Rep Alan Grayson Petitions the Florida Supreme Court to HALT Foreclosures

Foreclosure Fraud has Peaked… If the reports I am hearing are true, the illegal foreclosures taking place represent the largest seizure of private property ever attempted by banks and government entities. ~ This is lawlessness. CHECK THIS OUT!!!!!! September 20, 2010 Chief Justice Charles T. Canady Florida Supreme Court 500 South Duval Street Tallahassee, FL …

LINK – GMAC’s URGENT Letter to Preferred Agents RE Corrective Action in Connection With Foreclosures

Well well well… Here is the letter… Urgent: GMAC Preferred Agents Privileged & Confidential 9/17/10 Attorney/Client Privilege Dear GMAC Preferred Agents: GMAC Mortgage has determined that it may need to take corrective action in connection with some foreclosures in the following states: Connecticut Florida Hawaii Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Nebraska New Jersey …

GMAC Halts Foreclosures in 23 States for Review

By DAVID STREITFELD
Published: September 20, 2010

Some excerpts from the report…

GMAC Mortgage, one of the country’s largest and most troubled home lenders, said on Monday that it was imposing a moratorium on many of its foreclosures as it tried to ensure they were done correctly.

GMAC said the suspension might be a few weeks or might last until the end of the year.

GMAC, which has been the recipient of billions of dollars of government aid, declined to provide any details or answer questions, but its actions suggest that it is concerned about potential liability in evicting families and selling houses to which it does not have clear title.

The lender said it was also reviewing completed foreclosures where the same unnamed procedure might have been used.

Matthew Weidner, a real estate lawyer in St. Petersburg, Fla., said he interpreted the lender’s actions as saying, “We have real liability here.”

Mr. Weidner said he recently received notices from the opposing counsel in two GMAC foreclosure cases that it was withdrawing an affidavit. In both cases, the document was signed by a GMAC executive who said in a deposition last year that he had routinely signed thousands of affidavits without verifying the mortgage holder.

“The Florida rules of civil procedure are explicit,” Mr. Weidner said. “If you enter an affidavit, it must be based on personal knowledge.”

The law firm seeking to withdraw the affidavits is Florida Default Law Group, which is based in Tampa. Ronald R. Wolfe, a vice president at the firm, did not return calls. The firm is under investigation by the State of Florida, according to the attorney general’s Web site.

Whoopsi…

Oh, you can catch he NY Times article in its entirety here…

I find it somewhat strange that they always keep the comments on these reports closed. Oh well…

Just for the record GMAC, you are not alone.

Next target JP Morgan Chase…

If it makes you feel any better GMAC, the depositions on their illegal procedures are worse than yours, only in my opinion of course..

“I have personal knowledge that my staff has personal knowledge” or something like that…

I am sure that will be the headline later in the week and the “heat” will be off you…

~

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