QUESTION
How many months does GMAC Mortgage take to foreclose?
Asked on Oct 10th, 2012 on Foreclosures - California
More details to this question:
How many months does GMAC Mortgage take to foreclose these days in California, specifically in San Diego County? I know it varies, but I'm sure there is an "average." Do they tend to move fast, or take their time? Are there ways to slow down the foreclosure to lengthen the time frame? Does the foreclosure show on your credit report if the debt was previously discharged in bankruptcy and GMAC doesn't report your payments?
1 ANSWER
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I just sued GMAC mortgage for fraud, and prevented the foreclosure of my client's property. My client had filed bankruptcy, and slowed the process of foreclosure. I prevented further action to foreclose on the property by getting a temporary restraining order. GMAC seemed to move more quickly than other lenders I have had experience with, actually. I believe that the bankruptcy appears on your credit report within a couple months, whether payments on the mortgage have been made, or not.
Answered on Oct 12th, 2012 at 9:44 AM