Ally Bank Mortgage Possibly Considering Bankruptcy

The Wall Street Journal has released information that Ally Bank is considering filling bankruptcy for their residential mortgage division, ResCap, due to having lost over half a billion dollars within the last two quarters and becoming $2.3 billion in debt that will be due before the end of 2013. ResCap was originally GMAC before becoming a bank in 2008 with said hopes of continuing in the industry through bailout money assistance. The bankruptcy filling is still in speculation and many think it is unlikely.