Bank of America ends freeze on foreclosures in 23 states

The mortgage servicer will begin asking for court approval to seize homes next week. In California and 26 other states, however, it will continue to review the legality of its foreclosure documents.

Bank of America Corp. ended its freeze on foreclosures in 23 states earlier than some analysts had expected, but it is still reviewing its actions in California and 26 other states to make sure its attempts to seize homes complied with the states' laws.

BofA, the largest mortgage servicer and only major bank to impose a nationwide foreclosure moratorium, said it would begin asking judges in the 23 states for approval to seize a total of about 102,000 homes beginning Oct. 25.

Read Full Article from Los Angeles Times

- Posted: 2010-10-18 21:35:43

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