Wall Street Journal Reports Bank Of America Finds High Percentage of Errors in Foreclosure Filings
More to come...you have to just love this. This in and of itself could throw this country into a nose dive. Maybe, just maybe, we will get to do what should have been done to begin with and break up these big banks
It was reported by Wall Street Journal that Bank of America found numerous errors in the first of what will be thousands of foreclosure re filings in 23 states.
This really comes as no surprise as BofA assumed Countrywide and Countrywide’s shoddy practices… BofA shareholders are left “holding the bag” in this mess.
Bank of America found these errors in the first 1% of the over 100,000 foreclosure re-submittal’s….that’s basically 2.5% to 5% average mistakes that should be expected…or about 2,500 to 5,000+ mortgages with errors…or 5,000+ Americans that were improperly served foreclosure notices.
That is a high amount and the likely hood of past foreclosures filed in error is at the same rate…this could lead to an epidemic of legal filings in courts by Attorney's seeking damages for their clients who were foreclosed on illegally.
More to come!
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