Bank of America announced it reviewed its process for resubmission of foreclosure affidavits in the 23 judicial states with key stakeholders and has begun the process of preparing foreclosure affidavits for submission in 102,000 foreclosure actions in which judgment is pending.
Bank of America also said it will continue to delay foreclosure sales in the remaining 27 states, including California where the vast majority of foreclosures are non-judicial and conducted without a court order, until its review is complete on a state by state basis.
The bank anticipates that over the course of the temporary moratorium, less than 30,000 foreclosure sales will have been delayed.
