Mortgage Lenders Getting Into The Foreclosure Business?

An Associated Press story appearing on Daily Report says:

• "Consumer advocates have begun criticizing major mortgage lenders, such as Countrywide Financial Corp. and GMAC Financial, that also have in-house foreclosure businesses. It is "mind-boggling" that in many states, people can lose their homes in foreclosure without any court hearing and that the foreclosure is done by a company with ties to the lender, says Ira Rheingold, general counsel for the National Association of Consumer Advocates in Washington."

For more, see Lenders get into foreclosure business, particularly in West.
.