Bank of America Halts Foreclosure Sales in 50 States

By: AP
By: AP

Washington (AP) --

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 said it would only stop such sales in
the 23 states where foreclosures must be approved by a judge.

The move comes amid evidence that mortgage company employees or
their lawyers signed documents in foreclosure cases without
verifying the information in them.

"We will stop foreclosure sales until our assessment has been
satisfactorily completed," company spokesman Dan Frahm said in a
statement. "Our ongoing assessment shows the basis for our past
foreclosure decisions is accurate."


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 104573664 - wctv.tv/a?a=104573664
Gray Television, Inc.