Bank of America announced Friday that it was halting foreclosures in each and every case that hadn’t gone to judgement. They became the third major bank to put the brakes on foreclosures after revelations that document processing firms were allegedly forging papers and signatures on a massive scale.
However, BoA went further than JP Morgan Chase and GMAC/Ally Bank by stopping cases across the board, and not just the ones they felt hinky about.
Note that this only affects cases in the 23 states that require a judge to sign off. Those states are Connecticut, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont, Wisconsin.
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