Bank of America and GMAC have lifted or partially lifted their freeze on foreclosures in 23 states.  After internally checking their procedures for handling foreclosures, they state that a paperwork review shows no problems.

               

          Thus ends a potential problem that has simmered for several months.  Other lenders nationwide have not as yet begun to reinstate their foreclosures.   The market has found it interesting that a problem that was forecasted to take months and predicted to cost billions has ended in a few weeks.

 

Don Schaller

Broker Owner

Schaller family Realtors

Dickson Realty Truckee

Alltruckeehomes.com