BOA Foreclosures Halt - A Breather for Homeowners Home Business Articles | October 7 Cheap Jordan Retro Shoes , 2010 With Bank of America foreclosures halting in 23 states, Americans will have a space to breathe some fresh air. Check it now.
With foreclosure listings galloping to new heights everyday, it became necessary to find out whether the process of foreclosures followed the guidelines laid down by the state laws. It is important that the borrowers' rights are protected while maintaining the integrity of the process of foreclosure. In an attempt to do so, the Bank of America decided to stop its foreclosures and find out whether the process followed by them had some inherent flaws or not.
The process has been halted for 23 states in America. Bank of America will re-look at the affidavits which are yet to be sent for judgment and ensure that proper foreclosure procedures are maintained. There was no estimate from the bank on the number of homeowners who will be affected by this decision.
This announcement from Bank of America was preceded by a similar decision made by JP Morgan Chase. Two days before Bank of America announced this decision Cheap Air Jordan Shoes , JP Morgan Chase gave an estimate that foreclosure procedure for 56,000 homeowners will be reviewed.
?For Chase, an outside counsel is working with the bank to ensure that the process meets standards and that the homeowners are able to space to breathe in. This move by the banks is looked upon as a requirement of aligning the foreclosure process with the state law.
As the banks are now deciding to put a hold on the foreclosure process, the homeowners will be getting a breather and some may even escape foreclosure. This may be a sign of recovery for the economy and there are chances that the housing market may revive from its pits. However Cheap Jordan Retro , a huge damage has already been made. Those who are looking for a new home can get hold of thousands of foreclosed properties all over the country. If you are one of those prospective homebuyers, visit ForeclosureDataBank for the latest listings and the most updated info on foreclosure deals.
A business starts with a dream, but sometimes it's eventual reality is a little (or a lot!) different than what it was originally intended to be. As you get a few clients and learn from your mistakes, you may end up changing your services to better suit what your clientele needs. You may end up discovering a new way of doing things or switching gears altogether.
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Lea Woodard - About Author: Michelle Schaad, owner of Graphic Design Needs, has over 15 years of experience in small business branding. Let our West Palm Beach Logo Design and West Palm Beach Graphic Design services propel your business forward.
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