In Wake of Document Problems, Should Banks Be Resuming Foreclosures?

Bank of America, the largest U.S. bank, has announced plans to resume foreclosures in 23 states after temporarily freezing the process. The stoppage was put in place after reports of paperwork problems that resulted in people being wrongly evicted from their homes.

After reviewing the paperwork, Bank of America says it did not find any mistakes in mortgage documents. The bank says it will restart the foreclosure and eviction process on some 100,000 homes next week.

Officials at some big banks have admitted that so-called "robo-signers" put their names on thousands of foreclosures a day without actually looking at the details of the cases.

Just last week, the attorneys general of all 50 states announced an investigation into whether such sloppiness or possibly outright deceit led to the latest surge of foreclosures nationwide.

Our question to you today: In the wake of these apparent problems, do you think banks should resume foreclosures?

Click here to return to the "World News" page.

-- This embed didnt make it to copy for story id = 11915670. -- This embed didnt make it to copy for story id = 11915670.
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: Ebola patients Nina Pham, left, Dr. Craig Spencer, center, and Amber Vinson are seen in undated file photos.
Courtesy Pham Family | LinkedIn | Obtained by ABC
PHOTO: Television personalities Mama June and Honey Boo Boo are seen in this, June 11, 2014, file photo.
Douglas Gorenstein/NBCU Photo Bank/Getty Images
PHOTO: Overall winner for the Wildlife Photography of the Year 2014, The last great picture by Michael Nick Nichols.
Michael Nick Nichols/Wildlife Photographer of the Year 2014
PHOTO: Queen Elizabeth II sends her first Tweet during a visit to the Science Museum on Oct. 24, 2014 in London, England.
Chris Jackson/Getty Images