Wall Street Journal (October 9)
2010/ 10/ 12 by jd in Global News
Bank of America, J.P. Morgan Chase and other U.S. lenders have called a halt on foreclosures as they determine whether legal requirements were met on previous foreclosures. Paperwork for foreclosures in 23 states may lack the required signature of an individual who personally reviewed all the relevant mortgage documents. The Wall Street Journal believes the moratorium is damaging “to the housing market, which desperately needs to find a bottom by clearing excess inventory and working through foreclosures as rapidly as possible.”
Tags: Foreclosures, Mortgages, U.S.
