GMAC had its beginning in 1919, when the General Motors Automobile Corporation decided to begin offering in-house financing to prospective purchasers of its cars. Christening the new corporation General Motors Acceptance Corporation, GMAC began processing auto loans and establishing itself as a premium lender. Over the past 90 years, GMAC has gone through many evolutions [...]

The United States’ housing sector has been slowly recovering from the huge debacle during the recession but the growth has been much slower due to controversies surrounding foreclosures in the country. In late 2010, it has been found out that lenders and banks are not properly reviewing consumers’ mortgages. The robo-sign case has been first [...]

Hope is rising in California with plunge in foreclosures by 14%; across America the drop was by 2%. California crumbled first against foreclosure onslaught and perhaps it is the first to recover. But unemployment is at 12.4% and ARM loans are poised to reset; more than 1 million units facing foreclosure in California.

The economy continues to be weakly trying to stand up. An increasing number in Michigan are walking away from foreclosed houses that have gone underwater. The value of the property has become less than the loan amount due. From 2005 to 2008 the numbers of such people have tripled from 5,100 to 17,250 as per [...]

Shelby County is poised to file lawsuits against banks for their dubious foreclosure activities. At stake will be millions of dollars. It is an effort on the part of the administration to plug the flood of foreclosures. The County Commission voted unanimously (8/0) during the second week of May 2009 to authorize the county to [...]

NBC News reported that one bright spot in the housing crisis actually favors first time homebuyers. Houses that were out of reach for a lot of people or people looking to buy in better neighborhoods for a long time found it unobtainable. The recent trouble in the real estate market has made it easier for [...]

Barack Obama announced his plan to reduce foreclosures at Dobson High School in Mesa, Arizona Wednesday. The $75 billion plan could prevent up to 9 million Americans from losing their homes.

Bailouts will not solve foreclosure related crisis that has spun out of control, gobbling up property values, opines Center for Responsible Learning. It feels that the government steps as announced by Paulson and the Fed does not go deep down into the root of the foreclosure-ridden problems. It is simply a bailout and nothing more. [...]