Bank of America on Friday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of cases for flaws, expanding a crisis at a perilous time for the housing market.
The move came as PNC Financial Services became the fourth major bank to announce that it would stop foreclosures in at least some states. It added to growing concerns that mortgage lenders have been evicting homeowners despite flawed court papers.'
Read more...
Thank God.
ReplyDeleteWell, at least families won't be cast out into the streets while they investigate.
Seriously, someohow the economy need sto get back on track.
I don't think it's afir for banks to overinflate property prices with their valuers, solicitors and estate agents and then turf people out with documents that aren't even legal.
Seriously, greed culture needs to be dealt with.