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BofA Resumes Foreclosure Sales
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You're Now Reading:
BofA Resumes Foreclosure Sales
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
BofA Resumes Foreclosure Sales
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December 11 2010 (Brian Moore)
bank_of_america
Charlotte-based Bank of America has announced that it has restarted the sale of foreclosed homes that had been temporarily frozen in October as it reviewed its foreclosure processes.

Initially, the resumption will begin with vacant and non-owner occupied properties. About a third of the banks properties that it services are vacant by the time a foreclosure sale occurs.

The bank also announced, along with JPMorgan, that it would be suspending foreclosure sales and evictions of properties in which they own the loan or have the investor’s authorization from December 20 to January 2. This follows in the foot path of the previously announced policy of mortgage giant Freddie Mac.

Bank of America had previously resubmitted affidavits in 102,000 foreclosure cases in the 23 states where judges sign off on foreclosures. Based on the judge’s rulings, those sales are now proceeding.

The bank had previously announced that an internal review found the basis for its foreclosure decisions was accurate, however, the bank found that it could still make improvements in its foreclosure process including increasing employee training and using new affidavit forms.

Barbara Desoer, president of Bank of America’s mortgage unit, said in a statement, “While we make these improvements, it’s important that we move ahead with efforts to reduce the number of abandoned properties across the country. These properties can drag down home values in neighborhoods and slow the eventual recovery of the housing market.”

In the other 26 states that do not require a judge’s decision, the review of foreclosure procedures is near completion according to bank spokesperson Dan Frahm.

The bank also recently shifted 2,500 employees from its Home Loan business to support homeownership retention initiatives. Bank of America will now 29,000 employees working with distressed homeowners.

Tags: distressed mortgages, foreclosed homes, foreclosure process, suspending foreclosure sales, bank properties, housing recovery

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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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Rates

December 11 2010 (Brian Moore)
bank_of_america
Charlotte-based Bank of America has announced that it has restarted the sale of foreclosed homes that had been temporarily frozen in October as it reviewed its foreclosure processes.

Initially, the resumption will begin with vacant and non-owner occupied properties. About a third of the banks properties that it services are vacant by the time a foreclosure sale occurs.

The bank also announced, along with JPMorgan, that it would be suspending foreclosure sales and evictions of properties in which they own the loan or have the investor’s authorization from December 20 to January 2. This follows in the foot path of the previously announced policy of mortgage giant Freddie Mac.

Bank of America had previously resubmitted affidavits in 102,000 foreclosure cases in the 23 states where judges sign off on foreclosures. Based on the judge’s rulings, those sales are now proceeding.

The bank had previously announced that an internal review found the basis for its foreclosure decisions was accurate, however, the bank found that it could still make improvements in its foreclosure process including increasing employee training and using new affidavit forms.

Barbara Desoer, president of Bank of America’s mortgage unit, said in a statement, “While we make these improvements, it’s important that we move ahead with efforts to reduce the number of abandoned properties across the country. These properties can drag down home values in neighborhoods and slow the eventual recovery of the housing market.”

In the other 26 states that do not require a judge’s decision, the review of foreclosure procedures is near completion according to bank spokesperson Dan Frahm.

The bank also recently shifted 2,500 employees from its Home Loan business to support homeownership retention initiatives. Bank of America will now 29,000 employees working with distressed homeowners.

Tags: distressed mortgages, foreclosed homes, foreclosure process, suspending foreclosure sales, bank properties, housing recovery

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

December 11 2010 (Brian Moore)
bank_of_america
Charlotte-based Bank of America has announced that it has restarted the sale of foreclosed homes that had been temporarily frozen in October as it reviewed its foreclosure processes.

Initially, the resumption will begin with vacant and non-owner occupied properties. About a third of the banks properties that it services are vacant by the time a foreclosure sale occurs.

The bank also announced, along with JPMorgan, that it would be suspending foreclosure sales and evictions of properties in which they own the loan or have the investor’s authorization from December 20 to January 2. This follows in the foot path of the previously announced policy of mortgage giant Freddie Mac.

Bank of America had previously resubmitted affidavits in 102,000 foreclosure cases in the 23 states where judges sign off on foreclosures. Based on the judge’s rulings, those sales are now proceeding.

The bank had previously announced that an internal review found the basis for its foreclosure decisions was accurate, however, the bank found that it could still make improvements in its foreclosure process including increasing employee training and using new affidavit forms.

Barbara Desoer, president of Bank of America’s mortgage unit, said in a statement, “While we make these improvements, it’s important that we move ahead with efforts to reduce the number of abandoned properties across the country. These properties can drag down home values in neighborhoods and slow the eventual recovery of the housing market.”

In the other 26 states that do not require a judge’s decision, the review of foreclosure procedures is near completion according to bank spokesperson Dan Frahm.

The bank also recently shifted 2,500 employees from its Home Loan business to support homeownership retention initiatives. Bank of America will now 29,000 employees working with distressed homeowners.

Tags: distressed mortgages, foreclosed homes, foreclosure process, suspending foreclosure sales, bank properties, housing recovery

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.