Charlotte, N.C.-based Bank of America Corp., the nation’s largest bank, said Friday it would no longer complete foreclosures in all 50 states as it reviews documents used to process foreclosures.
Bank of America has decided to temporarily halt foreclosure sales in all 50 states. In a statement, spokeswoman Dan Frahm said, “Bank of America has extended our review of foreclosure documents to all.
Bank of America, the largest U.S. bank, had said a week earlier it would stop foreclosures in the 23 states where the process must be approved by a judge.
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As we expected when we reported that the Delaware AG got into the foreclosure fray (Delaware not being a judicial state), it was only a matter of time before foreclosures would be halted in all 50 states. Sure enough, Diana Olick has just reported that BofA has just expanded its foreclosure halt from the 23 judicial states, to all 50 states.
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Charlotte, N.C.-based Bank of America Corp., the nation’s largest bank, said Friday it would stop sales of foreclosed homes in all 50 states as it reviews documents used to process foreclosures. A.
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WASHINGTON – Bank of America yesterday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of. BofA halts foreclosures in 50 states Alan Zibel.
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had said a week earlier it would stop foreclosures in the 23 states where the process must be approved by a judge. Ally Financial’s GMAC Mortgage unit and JPMorgan Chase had announced similar plans..