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?