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BofA Moves to Restart Foreclosures

Bank resubmits affidavits in 102,000 pending actions

By Nick McMaster,  Newser Staff

Posted Oct 18, 2010 4:29 PM CDT

(Newser) – Bank of America moved to re-start foreclosures today, moving to resubmit paperwork for 102,000 cases and effectively ending the moratorium it enacted to give it time to look for errors, the Wall Street Journal reports. A BofA spokesman said that so far "no cases" of improper foreclosures have been found, calling the move "an important first step in debunking speculation that the mortgage market is severely flawed." The foreclosures involved affect 23 states, and should resume in November.

In this April 16, 2010 file photo, a Bank of America branch is shown in Charlotte, N.C. Bank of America said Monday, Oct. 18, 2010.
In this April 16, 2010 file photo, a Bank of America branch is shown in Charlotte, N.C. Bank of America said Monday, Oct. 18, 2010.   (AP Photo/Chuck Burton, file)
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COMMENTS
Showing 3 of 8 comments
DontLikeYou___
Oct 19, 2010 7:03 AM CDT
First, the banks took our money in the form of bailouts and now they are taking our homes one by one. We are being systematically raped by the Obama administration and the democrat congress.
tomodachi
Oct 19, 2010 6:33 AM CDT
If you people think you're pissed off at the banks and the government now... watch this: http://www.youtube.com/watch?v=ssl5yb7FewA If half of this is true...
Twiny
Oct 19, 2010 1:36 AM CDT
It is LONG past the time for the Justice Department to move in and start jailing some of these bankers. Spudsy makes an excellent point. There is NO WAY that BofA actually looked at over 102,000 mortgages in nine days. It is a bald-faced lie and a slap in the face to every American whose tax dollars bailed that fucking bank out. I say shut 'em down and break 'em up, just like they did to the phone company all those years ago. Re-regulate them and cap their size, so 'Too big to fail' can never happen again. But of course, they won't. Nobody has the stomach or the balls for that kind of fight.
Money • US

 
Bank of America • housing market • mortgage • moratorium • foreclosures • robo-signing • mortgage robo-signing scandal

 
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