Halt in Foreclosures
As many already know, Bank of America rencently announced that it was halting foreclosures in all fifity states, as it reviews the foreclosure process for problems. A few other banks have halted foreclosures as well.
How did this start?
Why can't the banks prove they won the mortgages?
Why is this in the news now?
Is this all politics?
What does this mean for the banks?
What does this mean for the economy and the housing market?
These are all valid questions. A well written primer on this foreclosure mess, can be found on CNBC.com. To read the entire article, "A Primer on the Foreclosure Process", please click here.
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