Article: by GRANT ROBERTSON “” BANKING REPORTER
Globe and Mail Update
Published Friday, Oct. 08, 2010 7:09PM EDT
“Just as it seemed the U.S. housing crisis couldn’t get any worse, the largest bank in the United States is halting all sales of foreclosed houses as of this weekend, amid growing allegations that lenders have improperly seized hundreds of thousands of American homes.
The decision by Bank of America on Friday could grind a significant portion of the real estate market to a halt in the next few months. It comes after legal questions were raised about the automated processes bankers in the United States have used to handle the unprecedented number of foreclosures taking place.”
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