Bank of America restarts nearly 16,000 foreclosures

Printer-friendly versionSend by email

Bank of America Corp. announced that it restarted nearly 16,000 foreclosure cases last week, according to a report by the Wall Street Journal. The bank’s foreclosure attorneys prepared 7,800 new affidavits for cases in states the require court approval for foreclosures, and lifted holds on 8,000 cases in states that do not need court approval. The bank froze 102,000 foreclosure sales earlier this year.

December 10, 2010

Bank of America Corp. announced that it restarted nearly 16,000 foreclosure cases this week, according to a report by the Wall Street Journal. The bank’s foreclosure attorneys prepared 7,800 new affidavits for cases in states the require court approval for foreclosures, and lifted holds on 8,000 cases in states that do not need court approval. The bank froze 102,000 foreclosure sales earlier this year, when paperwork procedures came under scrutiny after it was alleged that some employees signed documents without properly reviewing them.

Bank of America previously said it would restart foreclosures on Oct. 25, but delayed because it hired new law firms to handle its foreclosure cases. It expects to restart the remainder of the foreclosures early next year.

Two other banks, Wells Fargo & Co. and J.P. Morgan Chase & Co., said they also have restarted foreclosure processes, according to the report.

Comments on: "Bank of America restarts nearly 16,000 foreclosures"

October 2014

This Month in Professional Remodeler

2014 Design Awards

Project of the Year

Measuring Design Space

Flooring Trends

DIGITAL EDITION
Products

All aspects of the unit are customizable, including height, length, materials, and finishes.

Features

Slated to be held again in 2015, the Extreme Sales Summit is the only conference devoted entirely to in-home selling.

Email Subscriptions