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Bank Of America Halts Foreclosures In All 50 States, Congressman Explains What Went Wrong.

On Friday October 8th, 2010 Bank of America halted foreclosures in all 50 states.  This announcement came one week after BofA announced they were pausing foreclosures in 23 states where judges must sign off on foreclosures. Poor handling of paperwork was blamed which was discovered in previous court hearings, where bank employees admitted they had signed thousands of documents a month, without reviewing the information in them.  BofA said it wanted to investigate it's … [Read more...]