Home Foreclosures - New Update From GMAC Mortgage

GMAC Mortgage recently issued a full statement clarifying its position with regards to an issue surrounding certain internal procedures adopted by their company with regards to certain judicially required forms that are required to be filled in and signed as a part of the foreclosure process.

GMAC Mortgage also stressed that they strive to preserve homeownership whenever possible and only consider foreclosure as a last resort, when all possible avenues have been exhausted, and that this procedural error at the center of this controversy is not in any way related to the accuracy of the foreclosure transaction or the decision to commence foreclosure proceedings.

In highlighting the fact that the issue in concern did not involve any factual data used in the decision making process, and the fact that it only involved a procedural error regarding the signing of an affidavit required during the foreclosure process, GMAC Mortgage pointed out that this issue only concerned the requirement for the affidavit to be signed whilst in the physical presence of a notary public and the requirement for the affidavit to be signed with direct personal knowledge of all the information stated in the affidavit rather than knowledge and reliance upon the direct personal knowledge of other personnel, agents and local foreclosure counsel.

GMAC Mortgage also apologized for this procedural error and the resulting confusion, and stressed that it is working hard to resolve the situation, whilst also pledging to address and promptly rectify any harm that resulted from this error.