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Banks are back in the foreclosure business

Bank of America announced October 18, 2010 that it was once again back in the foreclosure business. Having flouted laws in 23 judicial foreclosure states and often wrongfully foreclosing on homes they should not have Bank of America and five other major lending institutions announced a halt to all foreclosures in the country.

Two weeks later they claim to have rectified the problem and are once again marching like a locomotive to foreclose on American Home Owners.


The announcement of the news kicked the Bank of America stock up 3.01% at the end of trading for the day. So, I guess it is a mixed blessing: shareholders are going to get a nice Christmas Bonus, and average Americans will soon be homeless.

In California, the hiatus is still in effect. Watch this space though. The Banks are well aware of their obligations to their shareholders and only too conscious of the ineptitude of our Federal Government to rein them in.

If you want to take control of your housing situation once and for all and to stop checking national news reports to see if you have a house to go home to, it is time to call the San Diego Bankruptcy Guy at the McMillan Law Group. Call (858) 375 1816 for immediate relief. Whether you want to wage war against your bank in Civil Court or simply protect your investment and family, we can help.

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