GMAC-RESCAP Order Granting Relief from Stay

So the LENDER filed bankruptcy!  The automatic stay goes into effect as to it.  Limitations on doing business “outside of the ordinary course of business” without court orders now exist.  No one can “commence or continue any act” AGAINST GMAC without permission from GMAC’s bankruptcy court.  So does that affect all the motions for relief brought by the lender accross the country that are opposed by debtors, RESPA claims made to the lender, loan modification negotiations, demands relating to unkept promises by the lender etc etc.  How does that affect pending loss mitigation programs, settlements already reached with GMAC, pending foreclosures and evictions, pending litigation against GMAC etc etc.

On July 13, 2012, the GMAC bankruptcy court entered a 19 page Order Granting Relief designed to cover these and lots more issues.  NACBA got involved negotiating the order on behalf of the consumer bankruptcy lawyers throughout the country – good job.  The order is here.  GMAC Order 7.24.12

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