BofA Stops Foreclosure Sales In 50 States Amid Outcry

Law360, New York (October 8, 2010, 6:19 PM EDT) -- Amid a growing storm of allegations that several U.S. banks have mishandled foreclosures, Bank of America Corp. said Friday that it was halting sales of foreclosed homes in all 50 states while it conducts a review of its foreclosure processes.

While several other banks have indicated that they are taking steps to examine the growing furor over how banks have handled foreclosure documents, BofA on Friday became the first to shut down foreclosure sales in all 50 states.

“Our ongoing assessment shows the basis for our...
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