rssBank of America Halts Foreclosures in All 50 States
Friday, October 08, 2010 at 11:15 am
- 27 Comments
Breaking news, 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. Sure enough, Diana Olick has just reported that BofA has just expanded its foreclosure halt from the 23 judicial states, to all 50 states. And so, the pendulum swings from populist anger to adulation. The only question is when will Tarp 2 be enacted now that banks are facing tens of billions in losses.
To translate: The big mortgage servicers had halted foreclosure-related evictions in the 23 states that require a judge to sign off, due to concerns about robo-signing and fraudulent affidavits. Of course, if there were systemic problems in those 23 states, there must have been systemic problems in the others. Yesterday, Delaware Attorney General Beau Biden called for a stop to all foreclosures in Delaware — not one of the 23. Now, Bank of America has stopped foreclosing nationwide. More to come.
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27 Comments
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Comment posted October 8, 2010 @ 7:11 pm
who do you contact regarding a bofa foreclosure on my home in Arizona? BofA won't contact you back.
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Bank of America halts all foreclosure sales…
By Charles Riley, staff reporterOctober 8, 2010: 6:51 PM ETNEW YORK (CNNMoney.com) — Bank of America is halting foreclosure sales in all 50 says as part of a widening investigation into flaws in the process, the company announced Friday. The announcem…
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Bank of America halts all U.S. foreclosures…
The foreclosure mess threatened to become full-blown chaos Friday as the nation’s largest bank, Bank of America, halted all foreclosure procedures nationwide, raising the pressure on other lenders to do the same. ……
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Bank of America halts all foreclosure sales…
By Charles Riley, staff reporterOctober 8, 2010: 6:51 PM ETNEW 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. The announc…
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