Bank Foreclosures Halted

One of the world's largest banks is delaying foreclosures in 23 states, including Oklahoma.

Monday, October 4th 2010, 10:21 am

By: News 9

NEWS 9

OKLAHOMA CITY -- One of the world's largest banks is delaying foreclosures in 23 states, including Oklahoma.

Bank of America said it is looking into whether the company rushed the foreclosure process for thousands of homeowners without reading the document. This comes on the heels of a Wells Fargo official admitting he only verified the dates on up to 150 foreclosure documents he signed every day.

Two other lenders, GMAC mortgage and JP Morgan Chase, have also stopped tens of thousands of foreclosures after similar practices became public.