Bank of America Ends Foreclosure Ban
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.
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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.
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