Foreclosure Freeze Thaws
Bank of America resumed 102,000 foreclosures after determining that its processes for reclaiming homes were satisfactory. GMAC Mortgage also began processing foreclosures again but did not specify how many.
The renewed foreclosure efforts are part of move to demonstrate that while there may have been some procedural issues, the majority of foreclosure and eviction actions are legitimate, and that the banks have the paperwork to prove it.
For more on foreclosures, buying a home or selling one see these AOL Real Estate guides:
- Foreclosure Help: What a Housing Counselor Can Do
- How to Buy Foreclosures
- How to Shop for Your First Home
- How to Price a Home to Sell Fast
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.