Bank of America Ends Foreclosure Ban
Posted on Oct 18, 2010
Bank of America said Monday it will resume foreclosures in 23 states. The country’s largest bank stopped processing foreclosures nationwide while it investigated a mess of paperwork that cast doubt on the validity of home seizures. A self-imposed ban remains in 27 states.
The bank said it would lift the halt on foreclosure sales in the 23 U.S. states that require a judge’s approval for foreclosure.
In the remaining 27 states, Bank of America’s foreclosure halt will continue, though it projects that less than 30,000 foreclosures will be affected in those areas.
Flickr / Michael Gray (CC-BY-SA)