Foreclosure Freeze Loosens Up

October 19, 2010 by  
Filed under Foreclosure Freeze Loosens Up

Foreclosure Freeze Loosens

The foreclosure freeze that has been threatening to paralyze the housing market recently may be coming to an end. Two of the nation’s largest mortgage lenders Bank of America and GMAC Mortgage announced on Monday, plans to resume foreclosure cases, despite concerns about document processing.

B of A will resume processes for claiming 102,000 homes along with GMAC who did not specify how many homes they will be claiming. Renewed foreclosure efforts are a part of the movement to demonstrate that regardless of some procedural issues, the majority of foreclosure and evictions are in fact legitimate, and that the banks have the paperwork to prove it.

Housing Assist Coldwellbanker