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Bank Of America To Resume Foreclosures

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Bank Of America To Resume Foreclosures

Business

Bank Of America To Resume Foreclosures

Bank Of America To Resume Foreclosures

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Bank of America says it will resume taking over more than 100,000 homes in 23 states starting next week. Those states require a judge's approval before any foreclosures can take place. Two weeks ago, the bank stopped foreclosures in all 50 states because of accusations that the paperwork was flawed.

RENEE MONTAGNE, host:

NPR's business news starts with a plan to resume foreclosures.

(Soundbite of music)

MONTAGNE: Bank of America says it will resume taking over more than 100,000 homes in 23 states starting next week. Those states require a judge's approval before any foreclosures can take place. Two weeks ago, BofA stopped foreclosures in all 50 states because of accusations that the paperwork was flawed.

Other companies have also halted thousands of foreclosures. Bank of America says it will resubmit documents with new signatures.

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