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1. Chicago Sheriff Refuses to Assist Banks with Foreclosures
2. GMAC Cranking Up Foreclosure Machine Again
3. Foreclosure-Gate

The first stats have started rolling in to recap the 2010 second quarter real estate market. RealtyTrac is reporting that foreclosure homes accounted for 24 % of all second quarter residential home sales. In concrete numbers, this amounted to nearly 250,000 homes in some stage of foreclosure being sold in the second quarter. This is up almost 5 percent from the first quarter. In comparison to the 2009 second quarter, this is a 20 % drop.

With regard to REO …

The bombshell news of the day is that Bank of America, the largest bank in the U.S., has issued an official statement, announcing it has expanded its foreclosure stoppage from the 23 states to all 50 states.

The Bank of America website said, in part, “”Bank of America has extended our review of foreclosure documents to all fifty states. We will stop foreclosure sales until our assessment has been satisfactorily completed.”

Sen. Christopher Dodd, D-Conn, and chairman of the Senate …

RISMEDIA, October 8, 2010—National civil rights groups, including the Leadership Conference on Civil and Human Rights, the National Fair Housing Alliance, National Council of La Raza, the NAACP, and the Center for Responsible Lending, are renewing their April 2007 call to institute an immediate national moratorium on foreclosures. The civil rights groups believe that until lenders demonstrate that they are adhering to all existing laws, regulations, and contractual guidelines related to loss mitigation and foreclosure legal process, lenders in all …

Okay, so some reports are floating around the web today that GMAC has put a kibosh on all foreclosures, both pre-foreclosure properties and bank-owned properties on the market.

The reports are stemming from a memo telling GMAC to have all brokers and agents stop everything in its tracks.  No more evictions, no more cash for keys, and even giving the earnest back to buyers in contract on properties.

According to other articles I’ve read, GMAC only wanted to audit their …