J.P. Morgan Chase and GMAC Mortgage halt sales
Homeowners facing eviction due to foreclosure proceedings can rest easier for the moment.
Following several adverse court decisions throughout the country and the Florida Attorney General’s well publicized investigation into the Florida Default Law Group, the Law Offices of Marshall C. Watson, P.A.; the Law Offices of David J. Stern, P.A.; and Shapiro & Fishman, LLP., both JP Morgan Chase and GMAC Mortgage have suspended mortgage foreclosure proceedings in 23 states.
While several mortgage lenders have dramatically slowed the pace of foreclosures in favor of short-sales or loan modifications, Chase and GMAC have admitted to rubber-stamping documents without reviewing them in an effort to streamline the foreclosure process for maximum volume and profit.
As state and national law enforcement officials take a closer look at the business practices of Chase and GMAC, these mortgage lenders have suspended foreclosure proceedings in Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Michigan, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Texas, Utah, Washington, West Virginia, and Wisconsin.