Subprime fiasco made Bank of America halts foreclosures in 50 states

Oct. 11, 2010 - PRLog -- Bank of America is the largest US Mortgage services, who took the first step in halting 50 Bank Of America foreclosures through out the nation. The Boa foreclosure crisis was the most amongst the three states namely, California, Nevada and Arizona. These states suffered crisis into inflammation of flawed paperwork and affidavits that need strict Judiciary review of the foreclosure. An 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 on all the foreclosure frauds especially, in 23 states that are swept by the swelling Financial Crisis. An outbreak of public anger has made it clear that the mortgage lenders are using fraudulent court papers to evict the homeowners out of their houses that are not even in foreclosures. The furor 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!

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According to Stan Humphries, an economist said, “What was 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 halt is putting the housing market in pandemonium and causing vast perplexity. While Bank of America stops Foreclosures, a real estate agent, Jim Klinge 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. This Program is going to help 3 to 4 million people until 2012.

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A Loan Modification Help can certainly give you an opportunity to save your house from a possible foreclosure. You can save yourself from the fraudulent practices of al the banks and save your home and family at the same time. You have bought this amazing home for your family do not let any corporate bank to steal it from you. Just follow these steps to modify your loan. You don’t have to approach for Bank of America Loan Modification, I advise you to consider searching online, making Internet the landscape of Loan Modification Help.

A loan modification will help all the homeowners who are unable to refinance because of their depreciated house values. This plan initiates on supporting homeowners to keeps their homes by modifying their home loans. Like Warren Buffet said, “foreclosures don't occur because a loan turns upside down. They occur because the family can no longer afford the payments”. This plan is a blessing to the whole Nation and all the struggling home owners should take advantage of this Loan Modification Help!

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