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Ally hopes to end mortgage woes with ResCap bankruptcy
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May 14, 2012
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<p><a href="http://news.yahoo.com/ally-hopes-end-mortgage-woes-rescap-bankruptcy-114614174--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/Ki3ZZg1Mb3595M9616xUOg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-05-14T153848Z_3_CBRE84C1EWB00_RTROPTP_2_USA.JPG" width="130" height="86" alt="Ally Financial sign is seen on a building in Charlotte, North Carolina" align="left" title="Ally Financial sign is seen on a building in Charlotte, North Carolina" border="0" /></a>NEW YORK (Reuters) - Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. Ally's mortgage unit, called Residential Capital, or ResCap, filed for bankruptcy protection in federal court in Manhattan under a plan that has the support of some of its creditors, although it was still expected to be a drawn-out and litigious process. ...</p><br clear="all"/>
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