CHICAGO-Two mortgage banks, JPMorgan Chase & Co. and GMACMortgage LCC, a unit of Ally Financial, have suspended thousands offoreclosures, till they complete scrutinizing the accuracy of theloan documents. However, it is premature to declare whether thesteps taken will permit some house owners to get their homes backor save their houses.
The two firms have requested their employees to verify thedocuments, which include the affidavits used in foreclosure suits,and get the sign of appropriate people. For the full story,go to Chicago Sun Times.
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