Bank of America to Resume Foreclosure Sales

Bank of America to Resume Foreclosure Sales

Posted by Brian Burke on Monday, November 30th, -0001 at 12:00am.

Denver Real Estate News - Foreclosures

Bank of America announced earlier this week that it plans to resume seizing more than 100,000 homes in 23 states next week. This announcement comes less than a month after the bank halted its foreclosure sales amid accusations that foreclosures had not been processed properly.

On Oct. 8th, the bank, along with other major lenders, halted foreclosure sales in all 50 states following accusations that it may have used forged documents, false notarizations, and œrobo-signers, who automatically signed off on evictions without first reading the files as required. The bank claims that its review process has shown that no borrowers were wrongfully foreclosed upon, despite the paperwork errors.

The bank plans to file paperwork on Oct. 25th to resume foreclosures in the 23 states that require a judge™s approval. The bank is further delaying approximately 30,000 foreclosures in 27 other states that don't require a judge's approval, including Colorado. Bank of America representatives in those states have said that borrowers who are late on payments should expect the foreclosure process to resume as early as next month.

Bank of America is the largest bank in the U.S., and currently services or collects payments for one fifth of all U.S. mortgages. It is currently the largest mortgage firm in the state of Colorado.

 


Information is deemed reliable but not guaranteed.  EXPERT REALTORS® 303-955-4220

Disclaimer: Kenna Real Estate. Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate. Blog represent the opinions and ideas of the author(s). Kenna Real Estate. Blog does not express the views of Kenna Real Estate. or those of the broker.


Creative Commons License
Denver CO Luxury Foreclosure REALTORS® - Opportunities by Brian Burke is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License."Denver Luxury Foreclosures - Opportunities" By Brian Burke.

      kenna_logo_to_website_144  e-PRO logo

    View homes with current updated information including Foreclosures on your Phone or IPad

                                                                         

Brian Burke | Broker | ePRO | Expert   | 303.955.4220 Office | 303.710.2609 Direct |  Brian@kennarealestate.com

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com

New program offers No Down Payment Loan