BOA and GMAC to Resume Foreclosures

The National Association of Realtors® reported that Bank of America Corp. announced Tuesday that it has reopened more than 100,000 foreclosure actions in 23 states, saying its investigation found no significant problems. Likewise, GMAC Mortgage said it would reopen an undisclosed number of foreclosure files.

"This is an important first step in debunking speculation that the mortgage market is severely flawed," said Bank of America spokesman James Mahoney.

Meanwhile, state attorneys in general continue to push for a halt to foreclosure sales, saying they have little confidence that procedures have been fixed.
  • October 25 2010 - US
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Answers (1)

Profile picture for mrs ryca
There was never any evidence that mortgage co.'s cut corners on mortgage foreclosures....Maybe some irregularities...maybe...It is a ploy by this administration to get more attention!  You go Bernanke...bet you won't find anything??
  • October 25 2010
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