Bank of America Resumes Foreclosures; Introduces Process Improvements

Bank of America has announced the resumption of its foreclosure sales after temporarily freezing it in October. The major lender voluntarily halted its foreclosures to give way to a review of the company's foreclosure procedures. This decision came after numerous homeowners accused mortgage servicers of improperly handling foreclosure documents to speed up evictions from foreclosed homes. After its review, the bank said it is more certain that its foreclosure decisions in the past were all accurate. It announced that it would restart foreclosures beginning with non-owner-occupied and vacant foreclosed properties. Bank of America said it would take a phased and deliberate approach in resuming sales of foreclosures. The

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