Over the past few
weeks, there have been many announcements by major financial institutions of
halting foreclosures in the 23 states which use a judicial process. This is in
response to reports of faulty paperwork from the lenders employees. GMAC was
the first to announce a freeze, followed quickly by JP Morgan Chase and Bank of
America.
Many in the media are anticipating a large scale response to the inefficiencies
within the foreclosure process on the side of the servicers from both the
p...
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