WASHINGTON, DC – October 11, 2010 – (RealEstateRama) — Sen. Carl Levin, D-Mich., and three Senate colleagues wrote on Friday to the CEOs of JPMorgan Chase and Ally Financial, asking them to halt foreclosure proceedings in 27 states, including Michigan, where they have not already done so.
“It is clear to us that the systemic mishandling of foreclosures by your companies is not limited to states that require judicial involvement,” the senators write in their letters to James Dimon of JPMorgan Chase and Michael A. Carpenter of Ally Financial.
The companies have previously announced they would suspend foreclosure sales in the 23 states where such sales require judicial involvement in foreclosures, in light of evidence of systematic problems in processing foreclosure documents. On Friday, Bank of America, which had previously announced a suspension in those 23 states, said it would extend its suspension of foreclosures to all 50 states.
“It is only fair that you provide homeowners in all 50 states with the same accommodation while you attempt to fix the systemic problems with your handling of foreclosures,” the senators write.
The letter was signed by Sens. Levin; Jeanne Shaheen, D-N.H.; Al Franken, D-Minn.; and Sheldon Whitehouse, D-R.I.
Letter to JPMorgan Chase [PDF] Letter to Ally Financial [PDF]
Contact:
Senator Levin’s Office
Phone: 202.224.6221
