Friday, November 26, 2010

Restart of Foreclosures Goes Slowly -

Restart of Foreclosures Goes Slowly - "Bank of America Corp. and J.P. Morgan Chase & Co. have hit snags in efforts to restart nearly 230,000 foreclosures across the U.S., meaning some cases are likely to remain in limbo until early next year.

Several complications are slowing the process, ranging from the hiring of new law firms to handle foreclosure paperwork to making sure that correct procedures are being followed as new or revised files are submitted in the 23 states where court approval is required for foreclosures.

The delays aren't a sign that documentation problems are worse than previously acknowledged by the nation's two largest banks ..."

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