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.
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Bank of America has announced they will be halting foreclosures in all 50 states. This follows up on reports last week they would stop them in about 25 of the 50. The problems stem from the fact.
Bank of America Halts Foreclosures in All 50 States from Zero Hedge : "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.
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Bank of America said it’s extended its review of foreclosure documents to all 50 states, and will stop all foreclosure sales until the review is completed. The ongoing assessment, previously confined to 23 states where courts have jurisdiction over foreclosures, "shows the basis for foreclosure decisions is accurate," Bank of America said.
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The nation’s largest bank, Bank of America, stopped sales of foreclosed homes in all 50 states today, a sign that the growing crisis in the real estate industry over flawed foreclosures is worsening. Bank of America executives said that the decision will allow them to review the documents that it uses to process foreclosures.
· Bank of America Halts All Foreclosure Sales. Bank of America Corp., the biggest U.S. lender, extended a freeze on foreclosures to all 50 states as concern spread among federal and local officials that homes are being seized based on false data. “We will stop foreclosure sales until our assessment has been satisfactorily completed,” the Charlotte,
Bank of America Halts Foreclosures in Minnesota According to a press release on the Bank of America website, BoA has halted ALL foreclosure sales in all 50 states. This, obviously, includes Minnesota.
Another Bank of America customer, Cha cha ramos. home seizures until those banks could demonstrate that they were complying with state law. "All lenders should halt foreclosures until they clear up.