Monday, October 18, 2010
Bank of America to Revive Foreclosures
The Bank of America Corp. said it will start resubmitting foreclosure affidavits next week for 102,000 cases in which judgment is pending. This comes after shares of the company gained as much as 3.3 percent. Last week, Bank of America shares declined 9.1 percent, reaching their lowest level in more than a year. This comes at a time where there is scrutiny of foreclosure practices and speculation that investors may force lenders to buy back faulty loans. The lender said October 8th it would stop foreclosure sales nationally pending a review of its practices over the next few weeks.
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Goldman Sachs is having problem too I believe. Time for change dear.
ReplyDeletethe recent exposure of the inconsistencies in the way these companies deal with foreclosures needs to be addressed before they continue to foreclose on properties. with companies filing and filling out foreclosure forms incorrectly the system could breakdown. Companies need to make sure that their internal systems are working before they can restart their filings.
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