Foreclosure Freeze coming to an end
October 19, 2010
Author: System Automation
The freeze on foreclosures is coming to an end as Bank of America and Ally Financials GMAC Mortgage have released more than 100,000 foreclosures cases in Florida and other states around the nation after finding no errors in the paperwork.
The nationwide halt on all foreclosure transactions that was called forth by major lenders last month was an attempt to correct any errors that were missed when employees failed to verify mortgage paperwork.
According to James Olecki, Ally Financial Spokesman, Again, we have been in the midst of a review for approximately two months and have found no evidence of any inappropriate foreclosures to date.
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