GMAC stops buuying homes in MASS

On Friday, GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., announced that it would stop purchasing mortgage loans from the third party in Massachusetts. But those early letdowns can provide a valuable (if heartbreaking) crash course in home buying, Presti says. have school systems that would be the envy of other areas.

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GMAC Mortgage, one of the nation’s leading lenders, said yesterday that it will end most of its mortgage business in Massachusetts, a day after Attorney General Martha Coakley sued the company and four other major financial firms over their role in the foreclosure crisis.

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