The bank of America nation’s largest bank halts foreclosures in 50 states; “In Manhattan, New York City (14-10-2010) – read the full story and see how false affidavits and”robo-signers”, the so called foreclosure frauds made thousands to leave their homes that aren’t even in foreclosures”. So learn, how Obama home loan modification has become a requirement to avoid foreclosure. Bank of America is the largest U.S. mortgage services, who took the first step in halting 50 Bank of America foreclosures through out the nation. The BOA foreclosure crisis what the most amongst the three states namely California, Nevada and Arizona. These states into crisis suffered inflammation of flawed paperwork and affidavits that need strict judiciary of the foreclosure review. On instantaneous effect of their action would be a pause on all foreclosure nationwide. The Bank of America-sheeps, namely, JP Morgan Chase & co., ally Bank’s GMAC mortgage unit and PNC Financial have stopped all of the foreclosures and have confirmed the interference of judiciary foreclosure frauds, especially on all the, in 23 states that are swept by the swelling financial crisis.
At outbreak of public anger has made it clear that the mortgage calendar are using fraudulent court papers to evict the homeowners out of their houses that are not even in foreclosures. The fury of complaints has made the officials to increase the pressure on the mortgage industry. Amid these fraud foreclosures, only Obama’s loan modification can help all the struggling home owners who are at the risk of being eaten by all the corporate sharks! According to Stan Humphries, to economist said, “what what initially cast as a problem of sloppy record-keeping is rapidly evolving into one that suggests the banks’ procedures for recording loans might not have followed the law.” This hold is putting the housing market in pandemonium and causing vast perplexity. While Bank of America stops foreclosures, a real estate agent, Jim blade from San Diego said, “if it’s still January, February, March, and they’re not foreclosing, you’ll see a big effect, it’ll be a banker’s holiday, free rent for everybody and a lawyers’ gold mine.” Barack Obama has allotted $75 billion to all the struggling homeowners and provided incredible opportunities for home loan modifications.