Industry NewsMortgage

BofA gearing up to resume foreclosure sales

Affidavits in 102,000 pending cases to be resubmitted
Published on Oct 19, 2010

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by CareyBot

Bank of America said Monday it will resubmit affidavits in 102,000 pending foreclosures in 23 judicial foreclosure states beginning Oct. 25, allowing it to resume foreclosure sales in those states.

The bank also plans to resume foreclosure sales in the 27 remaining states as it completes reviews of its foreclosure procedures on a state-by-state basis.

"As was the case for our judicial state review, our initial assessment findings show the basis for our foreclosure decisions is accurate," said Dan Frahm, a Bank of America Home Loans spokesman, in a statement.

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