Bank of America halts foreclosures in all states
NEW YORK (CNNMoney.com) – Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.
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.
· Charlotte, N.C.-based Bank of America, 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.
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. Ally Financial and JPMorgan Chase had.
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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 week earlier, the company had said it would only stop such sales in the 23 states where foreclosures must be approved by a judge.
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Bank of America has joined GMAC Mortgage and JP Morgan Chase in suspending foreclosure proceedings in 23 states where courts have jurisdiction over foreclosures, to check that it followed correct.
WASHINGTON – Bank of America Corp., the nation’s largest bank, is stopping sales of foreclosed homes in all 50 states as it reviews potential flaws in foreclosure documents. The company had previously.
WASHINGTON – Bank of America. of foreclosure cases after similar problems became public. Several states are stepping up pressure to halt foreclosures. On Friday, Connecticut Attorney General.
Bank of America is halting foreclosure proceedings in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.
Bank of America Corp (BAC.N) said on Monday it was partially lifting a self-imposed nationwide moratorium on foreclosures. The bank said it would lift the halt on foreclosure sales in the 23 U.S..
Bank of America has decided to halt all foreclosure sales. So will other banks follow BofA’s lead and what impact will the move have on the housing market? rick brooks and Brett Arends discuss.