Bank of America restarts foreclosures
Posted By
Admin on Dec 13, 2010 6:15am PST
On Friday, Bank of America cleared their attorneys to proceed with 16,000 foreclosure cases in December as it completes a revamp of its procedures.
On Oct. 1, Bank of America suspended foreclosures in 23 states where employees signed affidavits without verifying documentation, and expanded the suspension to all 50 states a week later. On Oct. 25, Bank of America began resubmitting affidavits in 102,000 foreclosure actions.
Bank of America said it improved its process to ensure affidavits submitted in judicial foreclosure states comply with law.
Bank of America said the restarted foreclosures will begin with non-owner occupied (investor) and vacant properties.
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