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USA - Foreclosures Slow as Document Flaws Emerge

sharon sanders

sharon sanders

Editor-in-Chief & President
<nyt_headline version="1.0" type=" ">Foreclosures Slow as Document Flaws Emerge</nyt_headline>

<nyt_byline> By DAVID STREITFELD

</nyt_byline> Published: September 30, 2010


Snip

Defense lawyers say the disclosures are symptomatic of the carelessness, if not outright fraud, that lenders have been exhibiting for years in their rush to file cases. Many necessary documents have disappeared, with defense lawyers saying the lenders often do not even have standing to foreclose.

more............

http://www.nytimes.com/2010/10/01/business/01mortgage.html?_r=1&ref=todayspaper
 
Re: USA - Foreclosures Slow as Document Flaws Emerge

BofA halts foreclosures in all 50 U.S. states

By Joe Rauch
CHARLOTTE, North Carolina | Fri Oct 8, 2010 1:26pm EDT

(Reuters) - Bank of America Corp expanded on Friday its suspension of foreclosures to include all 50 U.S. states as anger grows at how lenders have prepared documents to support evictions.

BofA, the largest U.S. mortgage servicer, is the first U.S. bank to institute a nationwide moratorium on foreclosures.

Previously, like Ally Financial's GMAC Mortgage and JPMorgan Chase, BofA had halted foreclosures in the 23 states that have judicial foreclosure proceedings.

The U.S. Senate Banking Committee announced on Friday it would hold a hearing November 16 into the foreclosure furor that includes disclosures that some big U.S. mortgage processors filed false affidavits in thousands of cases.

The nationwide Bank of America halt on foreclosures will take effect on Saturday and also includes sales of foreclosed property.

.../
http://www.reuters.com/article/idUSTRE6973IT20101008
 
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