GMAC Fights Back

GMAC Mortgage was slammed (sued) by the Ohio Attorney General on Wednesday for engaging in fraudulent foreclosures. But that's not how the company sees it. Here's the firm's full statement for those of you who missed it: "There was nothing fraudulent or deceitful about GMAC Mortgage's practices. If procedural mistakes were made in the completion of certain legal documents, GMAC Mortgage reacted proactively to the situation and immediately undertook to remedy the situation. There have not been any inappropriate foreclosures, which are typically not even filed until the customers are 6-12 months delinquent, so the fact of default and the right to foreclose are not in dispute. GMAC Mortgage will vigorously defend this lawsuit and expects to be fully vindicated by the Ohio courts."