Foreclosure process disrupted by filing problems
Mortgage foreclosure activity has been disrupted at several large lenders by documentation errors. Ally Financial (the bank owned by General Motors), JPMorgan Chase and Bank of America said there are problems with their mortgage loan foreclosure process. Bank of America has placed a moratorium on its foreclosure proceedings, while Ally and JPMorgan have suspended foreclosures. Furthermore, 10 states including Illinois, Wisconsin and Iowa, have announced investigations into foreclosure documents that may have been improperly filed. The Office of the Comptroller of the Currency has . . .
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