Ally Financial

Foreclosures drop 9 percent in October

Foreclosures drop 9 percent in October

The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled improperly. Home repossessions dropped 9 percent from September to October, foreclosure listing firm RealtyTrac Inc. said Thursday. The decline […]

Foreclosure fury: Obama sends bill back to Congress

Foreclosure fury: Obama sends bill back to Congress

President Barack Obama killed proposed legislation on Thursday that struck at the heart of growing political rage over how banks have moved to evict struggling borrowers from their homes. The bill, which would have made it more difficult for homeowners to challenge foreclosures, came under the spotlight this week as the furor grew over disclosures […]