As an active REO listing agent, I have been scrambling for answers in regards to the most recent moratorium announced by Bank of America and others last Friday. It seems that everyone has their own opinion as to why they are doing this and what repercussions will result from it. This morning a loan officer forwarded me a link to this video that, I believe, portrays an accurate picture of what's really happening. Banks are taking this very seriously, in fact, yesterday one of my REO properties in escrow was cancelled by the bank so they could review their paperwork. I have never had this happen before! I'd love to hear other opinions and experiences regarding this issue and the video, Enjoy!