Bank of America is halting foreclosure sales in all 50 states due to investigations in flawed processing, the company announced Friday.
As the nation’s largest bank it recently announced freezing foreclosures in 23 states wherein foreclosures must be approved by the courts.
The investigation review is said to last a few weeks and will continue the process of foreclosures on delinquent borrowers but will not proceed to judgement or a foreclosure sale.
This news as well as JPMorgan Chase announced its halt on foreclosure proceedings due to reveiling evidence that their employees approved foreclosures without personally reviewing loan files.
