Articles tagged with: RealtyTrac
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Trying to keep up with the changes that may be on the horizon in the mortgage industry can be either confusing or frustrating (or, perhaps, both) as there are a lot of proposals out there on how to prevent a similar set of circumstances that gave rise to the rash of foreclosures that started popping up in 2007.
Fortunately, there are at least two things upon which the groups coming up with proposals appear to agree – a record number of foreclosures is bad and those people who take out mortgages …
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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 …
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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 …