Monday, October 18, 2010

Bank of America: Foreclosures Will Resume

Bank of America reports that it had not found a single example where a foreclosure proceeding was brought in error. This to me is not the same thing as saying the papers were in order for all the foreclosures.

Nevertheless,  the bank said it would resume home foreclosures in nearly two dozen states. It plans to begin filing new paperwork for 102,000 foreclosures by Monday.

Bank of America said it would resume foreclosures in the 23 states where judicial approval was required after an internal review turned up no evidence that cases were filed in error.

However, Bank of America’s suspenwill remain in effectsion  in the 27 other states that do not require a judge’s approval to foreclose, as the bank’s paperwork review proceeds state by state.

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