Miami homes - Miami real estate news
On Friday, October 8, 2010, Bank of America announced it is stopping all foreclosure sales and proceedings in all 50 states, though it's unclear how this action will impact homeowners who are currently negotiating with their lender.
To see VIDEO click here.
In the video above, experts told CNBC that it's bad news for the housing market. The Charlotte based bank and the largest in the Country, decided to halt foreclosures after JPMorgan Chase and GMAC Mortgage's stopped foreclosures last week to examine what it has been shown to be a flawe d process for documenting and filing foreclosures.
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