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Tag Archives: gmac

Car dealerships lose suit against GMAC

Two Eastern Shore car dealerships that were driven out of business when General Motors Acceptance Corp. called in their loans in 2009 lost a second time last week, when a judge found the financing company had not breached the contract nor any implied obligation of good faith and fair dealing.

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Post-foreclosure challenge came too late

A former homeowner cannot undo a foreclosure sale based on her government-insured lender’s failure to comply with HUD-required loan mitigation efforts in the absence of fraud, Maryland’s top court held Thursday. The unanimous Court of Appeals said people in foreclosure ...

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Bank of America making changes in foreclosure process

WASHINGTON — Bank of America is telling a Senate panel it is making changes in its foreclosure process after an extensive review found areas needing improvement. The bank is one of several big mortgage lenders that recently suspended foreclosures temporarily ...

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