NEW YORK (AP) – Sept. 30, 2010 – JPMorgan Chase has temporarily stopped foreclosing on more than 50,000 homes so it can review documents that might contain errors.
JPMorgan’s move Wednesday makes it the second major company to take such action this month, underscoring a growing legal problem. The issue could stall an already overloaded foreclosure process. Read the rest of the article at http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=248150.
This is an interesting article on the state of the legal process when it comes to foreclosures.
I would not be surprised if we see more banks temporarily stop foreclosures as the banks review their procedures.
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