Bank Of America Readies Affidavits For Resubmission

Posted by Orb Staff on October 19, 2010 No Comments
Categories : Mortgage Servicing

Bank of America anticipates it will begin resubmitting foreclosure affidavits to courts in 23 judicial states Oct. 25. The bank says it has started preparing the affidavits, which are tied to 102,000 foreclosure actions in which judgment is pending.

Upon judgment, foreclosure dates will be set, and Bank of America will resume foreclosure sales in the 23 states.

The bank adds that it will continue to delay foreclosure sales in the remaining 27 states until its foreclosure-process review is complete on a state-by-state basis.

‘We anticipate, over the course of this pause, less than 30,000 foreclosure sales will have been delayed,’ the company says in a statement. ‘As was the case for our judicial state review, our initial assessment findings show the basis for our foreclosure decisions is accurate.’

SOURCE: Bank of America

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