Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states This is big. (See story in The Huffington Post)Bank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states This is big. (See story in The Huffington Post)
Just the other day they announced that they were halting their actions just in the 23 states where they must go to court in order to complete a foreclosure. These states are referred to as judicial foreclosure states. The other states, referred to as non judicial foreclosure states do not require that the lenders or banks go to court to foreclose. They simply place a notice of sale on the door of the home indicating that the home will be sold at auction on a certain date.
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Editor's Note: This article first appeared in GoldmanSachs666.com
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