Bank of America announced on Friday that they will halt foreclosures in all 50 states. Previously, BoA had said that they would only halt foreclosure proceedings in the 23 judicial states (those requiring a judge's approval to complete the foreclosure process). Florida is a judicial state.
Senate Majority Leader Harry Reid praised Bank of America's action and urged that other major mortgage servicers (like GMAC and JPMorgan Chase) follow suit.
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