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Bank of America to restart foreclosures, refile 102,000

By Vicki Needham - 10/18/10 04:03 PM ET

Bank of America is planning to resume the foreclosure process next week in 23 states and will refile 102,000 documents with new signatures. 

The nation's largest bank, which was the only mortgage lender to temporarily stop foreclosures in all 50 states while it investigates problems, will begin refiling paperwork in those 102,000 cases that require a judge's approval next Monday. About 30,000 foreclosures will remain on hold in the 27 states where a judge's approval isn't necessary. 

More details are expected on Tuesday. 

Concerns have been raised recently about potential problems with the foreclosure process because of "robo-signings" where hundreds of documents a day were signed but the accuracy of the paperwork wasn't checked. 

Bank of America said it hasn't found any cases so far that were in error and shouldn't have gone through. 


Source:
http://thehill.com/blogs/on-the-money/banking-financial-institutions/124713-bank-of-america-to-restart-foreclosures-refile-102000
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