BofA Moves to Restart Foreclosures

Bank resubmits affidavits in 102,000 pending actions
By Nick McMaster,  Newser Staff
Posted Oct 18, 2010 4:29 PM CDT
BofA Moves to Restart Foreclosures
In this April 16, 2010 file photo, a Bank of America branch is shown in Charlotte, N.C. Bank of America said Monday, Oct. 18, 2010.   (AP Photo/Chuck Burton, file)

Bank of America moved to re-start foreclosures today, moving to resubmit paperwork for 102,000 cases and effectively ending the moratorium it enacted to give it time to look for errors, the Wall Street Journal reports. A BofA spokesman said that so far "no cases" of improper foreclosures have been found, calling the move "an important first step in debunking speculation that the mortgage market is severely flawed." The foreclosures involved affect 23 states, and should resume in November.
(More Bank of America stories.)

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