Just three weeks after they announced a moratorium on their foreclosures in the 23 judicial states, GMAC and Bank of America are going to restart foreclosure proceedings.
James Olecki, spokesman for Ally (GMAC's parent company) said, “Our review and remediation activities related to cases involving judicial affidavits in the 23 states continues. As each of those files is reviewed, and remediated when needed, the foreclosure process resumes.”
DSNews reports that BoA says it has found no instances in which a homeowner was wrongly foreclosed upon and has begun the process of preparing 102,000 foreclosure affidavits that have been on hold for re-submission to the courts beginning next Monday.
To read more about this issue, click HERE.
Showing posts with label BoA. Show all posts
Showing posts with label BoA. Show all posts
Thursday, October 21, 2010
Thursday, October 14, 2010
What Buyers Need to Know
I have found a wealth of well written and informative articles about real estate lately, so I am going to keep posting them.
This next one comes from Tara with Trulia. She is writing about the recent foreclosure moratoriums that some of the nation's largest banks (BoA, JPMorgan Chase, etc) have put in place over the past few weeks. She details what buyers need to know about buying a foreclosed property, and she is spot on.
Read what she has to say HERE.
This next one comes from Tara with Trulia. She is writing about the recent foreclosure moratoriums that some of the nation's largest banks (BoA, JPMorgan Chase, etc) have put in place over the past few weeks. She details what buyers need to know about buying a foreclosed property, and she is spot on.
Read what she has to say HERE.
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