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Colorado, Ohio join states ordering freeze on foreclosures by Ally

Colorado Attorney General John W. Suthers ordered Ally Financial to halt home foreclosures in the state, following similar actions by Connecticut and California.

In a letter to the company dated Monday, Suthers said lawyers for the company's GMAC mortgage unit made claims about unpaid loan balances and ownership of the mortgage that are in question after the company admitted last week that some documents contained "important but technical defect."

"[T]he accuracy of these documents is essential for preserving the integrity of the foreclosure process in Colorado," Suthers wrote.

Ohio on Tuesday said it had asked state courts for a "special review" of all GMAC foreclosure cases. Attorney General Richard Cordray said the action was taken to "protect the integrity of the system."

Ally confirmed early last week that it had halted evictions and sales of repossessed properties in 23 states after learning of the document processing issue. Those 23 states require a court order for foreclosures to proceed. Colorado was not the in the initial list.

Connecticut and California have also asked Ally's GMAC mortgage unit to halt foreclosures, while Texas, North Carolina, Iowa and Illinois are investigating the company's lending practices.

By Ariana Eunjung Cha  | September 28, 2010; 1:55 PM ET
Categories:  Housing  
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Next: Economic agenda: Wednesday, Sept. 29, 2010

Comments

Relief for "deadbeats" and "squatters," but none for those who continue to toil and sacrifice.

Posted by: Computer_Forensics_Expert_Computer_Expert_Witness | September 28, 2010 5:25 PM | Report abuse

An important thing to note here is that AZ is second in the nation in foreclosures and yet our AG Terry Goddard (D) has not bothered to take the time and freeze the foreclosure process. That means AZ citizens are still left at the mercy of corrupt foreclosure mills. Other states who have AG's who actually care about their citizens (CO, FL, etc) took the time to declare a halt to the foreclosure process but not Terry Goddard. Too busy running for Governor to do his job. Doesn't inspire much in the way of confidence as Governor if he doesn't do his job as Attorney General.

Posted by: Desertdiva1 | September 28, 2010 6:04 PM | Report abuse

Lying under oath isn't "an important technical defect." It's perjury. A crime.

Posted by: thrh | September 28, 2010 7:10 PM | Report abuse

Americans are trying to free themselves from Slavery. When you borrow money and sign a Promissory Note, personally, you are a Slave for the lender, until the note is repaid. Some Slave Master are getting Warrants on their debt slaves and having them locked up. This is happening right here in the U.S. People you own nothing you are paying on, don't believe me, then miss a payment and the real owner will emerge.

Posted by: Moley2 | September 28, 2010 10:24 PM | Report abuse

Is Barack Obama the right person for the job right now? He admires Jamie Dimon, and Oprah Winfrey and Jamie Dimon are business allies, and Oprah helped Barack in 2008, There may be one ugly triangle of deceit lurking amongst these three.

There may be even more ugliness related to Chase Bank and home foreclosures.

Posted by: Anonymous | September 28, 2010 10:45 PM | Report abuse

Are you looking to file for bankruptcy? Compare your bankruptcy options and information http://bit.ly/avB0jI

Posted by: brayden29 | September 29, 2010 3:40 AM | Report abuse

very encouraged to see brave attorneys general stand up to the Timmy Geithner-funded banksters and halt fake and fraudulent home theft.
all of the hundreds of thousands of foreclosures and other distress home sales jammed thru on trumped up docs, falsified signatures and questionable loan originations should be reversed today.
with nothing to stop them (HAMP has no penalty for the banks, who operate fully emboldened by the feds to do as they please) the Obama-funded theft of homes is a federal crime.
the flipping of homes, as Chase does, is another illegal data point. Chase is buying homes from itself for $100, tossing out the family and then reselling for six-figure profits. this gov.-sanctioned wholesale institutional flipping is an economic assault on the middle-class American family.
it speaks volumes that alert state officials are being forced to carry the feds' water, as they doze at the switch.
this is hope and change I can believe in??/ Obama stated at the most recent rally, er, town hall that "hundreds of thousands" of foreclosures had taken place?
um, no. it has been close to four million. with tens of thousands more EACH week.
astounding and disturbing. this is what the feds do with my tax money??? can I have it back??

Posted by: Anonymous | September 29, 2010 4:51 AM | Report abuse

CAR DEALER ADMITS FRAUD OF BILLIONS

search that ... just sayin '

Posted by: Anonymous | September 29, 2010 12:03 PM | Report abuse

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