Thaindian News

Oct 1 (THAINDIAN NEWS) The congress members are fed up by the banks that are illegally foreclosing the properties.

Soon after this disturbing news, the GMAC bank has stopped its foreclosure process in 23 states. It was reported that the banks performing the foreclosure activity in deed do not have the right to mortgage the property and the process itself is fraudulent. But despite the concerns it was retraced that the foreclosure process is still continuing.

A spokeswoman from a unit of Ally Financial Inc, on Monday confirmed the news that foreclosures are still on with all the new residential properties. He added that the company has suspended some evictions and company is reviewing its internal procedures. According to her, only company can clarify its events and decision over eviction process.

“Families’ homes are at stake here. If I determine that Ally is rubber-stamping affidavits and filing them with our courts as evidence, I will take appropriate action. The law demands that lenders prove their case in foreclosure actions, and Illinois homeowners demand the same,” according to Illinois Attorney General Lisa Madigan.

The time has come when ABA should step in and answer the problem of millions of Americans, who are suddenly suffering from foreclosure fraudulent. The need of the hour is that now politicians should make some noise and stop the illegal process.