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Articles tagged with: Bank of America

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[5 Dec 2010 | 8 Comments | 4,008 views]
The latest confusing foreclosure news

Trying to keep up with what’s happening with foreclosures around the nation is confusing, indeed.
At the end of November, Fannie Mae and Freddie Mac – the government-sponsored enterprises which underwrite the bulk of mortgages in the United States – told real estate agents to resume with sales of foreclosed properties. That was a significant announcement as Fannie and Freddie had about 240,000 properties set for foreclosure at the end of September.
Concerns over the adequacy of paperwork filed in foreclosure actions, however, caused Fannie and Freddie to order a halt to …

Business, News, Real Estate »

[15 Oct 2010 | 13 Comments | 3,224 views]
Take that foreclosure notice seriously

Unless you’ve been completely out of contact with the various media outlets throughout the United States, you’ve heard that attorneys general in all 50 states and banking regulators in 30 states launched an investigation into foreclosure practices.
Click the aforementioned link for more details, but the long and short of it is this — there are some serious questions about the adequacy of paperwork filed in foreclosure actions around the nation. There have been questions in some extreme case over the ability to bring a legitimate foreclosure action at all due …

Business, Features and such, Legal, News, Politics, Real Estate »

[13 Oct 2010 | One Comment | 3,175 views]
Attorneys general investigating foreclosure practices

We’ve talked about problems with foreclosures at First Arkansas News before and we’re doing it again.
Just this morning, Arkansas Attorney General Dustin McDaniel announced that he is joining the other 49 attorneys general in a nationwide investigation of foreclosure practices. Meanwhile, banking regulators in 30 states are also investigating foreclosures.
McDaniel’s announcement came hot on the heels of Bank of America’s decision to halt foreclosures across the nation until it completes an investigation of its own. Ally Financial Inc.’s GMAC Mortgage Unit and JPMorgan Chase & Co are also taking a …

Business, Features and such, Legal, News »

[11 Oct 2010 | 8 Comments | 5,633 views]
Bank of America puts a stop to foreclosures

Well, here’s some news — Bank of America has put a stop to foreclosures until it can review the adequacy of documents it has filed in court.
In a vague statement Bank of America released Friday, the company said it was going to review foreclosure documents it has filed in every state in the U.S. That’s quite a statement when one considers that Bank of America holds about one in every five mortgages in the nation.
It’s an even more significant statement when one considers that RealtyTrac reported that one out of …