Bank of America to Continue Freeze on Foreclosures…in Some States

Bank of America announced Monday that it was preparing to resubmit paperwork to restart the foreclosure process in numerous states.  However, Bank of America’s restart of foreclosure sales will only affect states that have a judicial process whereby judges will actually review all the paperwork necessary to commence a foreclosure sale.  In those states, the judges will have to approve the paperwork prior to allowing Bank of America to move forward with the foreclosure sales.

Bank of America’s freeze on foreclosures will continue in the non-judicial foreclosure states.  For those states, Bank of America must review all the documents to ensure that the proper paperwork has been completed prior to the foreclosure sale.  This could take several more weeks.

For more information, please review the link below to read the full article: 

http://www.washingtonpost.com/wp-dyn/content/article/2010/10/18/AR2010101805992.html