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GMAC temporarily halts its Maine foreclosure sales for now…



According to a Portland Press Herald article, mortgage giant GMAC Mortgage LLC has agreed with the Maine Attorney General Janet Mills to temporarily hold off on the sale of their foreclosed homes. It is believed that the agreement impacts just under 100 households in Maine.

Still looming is a class action lawsuit filed by six Maine homeowners against GMAC, demanding that all foreclosure proceedings by GMAC be stopped until a court can sift through all of the issues brought up related to allegations of "robo-signing". Stay tuned as all this unravels...

According to the Boston Globe Real Estate Blog, Maine has seen a jump in the number of folks falling behind on their mortgage payments.

In referencing the Transunion press releases mentioned in the Boston Globe post - we can see that Maine has a 4.67% 60 Day Mortgage Delinquency Rate, which is below the national average of 6.44%. Transunion Q3 2010 Report

Jeff Mateja is the CEO/REALTOR at Universal Properties at Keller Williams Realty in Portland, Maine, and founder of ILovePortlandMaine.com, a blog about everything Portland, Maine, and beyond. Jeff also offers two premier home search tools for Buyers via FindPortlandHomesNow.com and FindMaineHomesNow.com. If you would like further information on any blog topics, please e-mail Jeff Mateja.

You may also wish to check out a few of Jeff's other great websites;

UniversalPropertiesMaine.com

GuaranteedSoldMaine.com

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Comment balloon 0 commentsJeff Mateja • November 25 2010 11:49AM

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