Bank of America delays foreclosures in 23 states - ohio is one - video - story

Submitted by Quest-News-Serv... on Sat, 10/02/2010 - 05:48.


WASHINGTON – Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.

The move adds the nation's largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.

Bank of America isn't able to estimate how many homeowners' cases will be affected, Dan Frahm, a spokesman for the Charlotte, N.C.-based bank, said Friday. He said the bank plans to resubmit corrected documents within several weeks.

Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan Chase, have halted tens of thousands of foreclosure cases after similar problems became public.

The document problems could cause thousands of homeowners to contest foreclosures that are in the works or have been completed. If the problems turn up at other lenders, a foreclosure crisis that's already likely to drag on for several more years could persist even longer. Analysts caution that most homeowners facing foreclosure are still likely to lose their homes.

State attorneys general, who enforce foreclosure laws, are stepping up pressure on the industry.

On Friday, Connecticut Attorney General Richard Blumenthal asked a state court to freeze all home foreclosures for 60 days. Doing so "should stop a foreclosure steamroller based on defective documents," he said.

And California Attorney General Jerry Brown called on JPMorgan to suspend foreclosures unless it could show it complied with a state consumer protection law. The law requires lenders to contact borrowers at risk of foreclosure to determine whether they qualify for mortgage assistance.

http://news.yahoo.com/s/ap/20101002/ap_on_bi_ge/us_bank_of_america_forec...

complete story

 

ANTI-SPECIESISM:
SPECIESISM:
1. A PREJUDICE OF ATTITUDE OF BIAS TOWARD THE INTERESTS OF MEMEBERS OF ONE'S OWN SPECIES
AND AGAINIST THOSE OF MEMBERS OF OTHER SPECIES.
2. A WORD USED TO DESCRIBE THE WIDESPREAD DISCRIMINATION THAT IS PRACTICED
BY HOMO SAPIENS AGANIST THE OTHER SPECIES.
SAVE OTHER-OUR SPECIES
SOS-FRE
FROM RESEARCH EXPERIMENT
QUEST, MINISTRIES, GUY TEMPELTON BLACK, PASTOR, and YOGI YOGA BEAR, SERVICE K-9 (guy's partner)
753 BRAYTON AVE., CLEVELAND, OHIO 44113-4604 USA, V:216.861.7368, F:216.861.7368
UNITED STATES ARMED FORCES VETERAN (VOLUNTEER) PEACE, ANTI-WAR, DEFENSIVE
faith based non-profit corporation no. 389646, 501(c)(3), SINCE 1965,
questministry [at] att [dot] net
ADVOCATING FOR A NATIONAL WAR DOGS MEMORIAL
http://www.nationalwardogsmonument.org
DONATE TO QUEST
 
"When I despair, I remember that all through history the way of truth and love has always won. There have been tyrants and murderers, and for a time they seem invincible, but in the end, they always fall — think of it, always." - Mahatma Gandhi

 

 

http://www.disclosureproject.com  TRUTH  -  EXTRA-TERRESTRIAL

( categories: )