Posted by
alfredlester on Saturday, October 02, 2010 11:54:19 AM
Bank of America is halting foreclosures in 23 states as it examines whether it rushed the process for thousands of homeowners without reading the documents.
The move adds the nation's biggest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.
In some states, lenders can foreclose quickly on delinquent mortgage borrowers. By contrast, the 23 states in which Bank of America is delaying foreclosures use a lengthy court process. They require documents to verify information on the mortgage, including who owns it.
Those 23 states are:
&S226; Connecticut
&S226; Delaware
&S226; Florida
&S226; Hawaii
&S226; Illinois
&S226; Indiana
&S226; Iowa
&S226; Kansas
&S226; Kentucky
&S226; Louisiana
&S226; Maine
&S226; Nebraska
&S226; New Jersey
&S226; New Mexico
&S226; New York
&S226; North Dakota
&S226; Ohio
&S226; Oklahoma
&S226; Pennsylvania
&S226; South Carolina
&S226; South Dakota
&S226; Vermont
&S226; Wisconsin
At a Glance: Foreclosure delays in 23 states
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