Bank Of America Halts Foreclosure Sales In All 50 States


Friday, October 8th 2010, 3:54 pm
By: News On 6


Staff and wire reports

WASHINGTON -- Bank of America halts foreclosure sales in 50 states as it examines documents for errors.

The nation's largest bank made the announcement Friday.

It originally delayed foreclosures in just 23 states, but now will temporally halt foreclosures in Oklahoma and the rest of the country.

The move comes after accusations that mortgage companies signed documents in foreclosure cases without verifying the information in them.

Bank of America isn't able to estimate how many homeowners' cases will be affected.

Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan Chase, have halted tens of thousands of foreclosure cases after similar problems became public.

The Associated Press contributed to the story