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Recently, BofA halted foreclosures nationwide recognizing errors in the process being used which approach criminal actions of forged documents and other improper actions. As an appraiser, I must keep all files 5 years after completion and I know Realtors are under similar obligation. Lenders are supposed to keep all documents for the term of the loan. Now comes the difficult question: How far back do these improprieties date? What an upheaval in the entire real estate market if this starts a domino effect of reversing foreclosures and even reinstating ownership rights. Will we next see TV commercials similar to those run … (6 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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