WLBT – All 50 states move forward with foreclosure probe

WLBT – All 50 states move forward with foreclosure probe

JACKSON, MS (WLBT) – Since 2007, 2.5 million homes nationwide have been foreclosed according to the web site Realty Trac.

The National Association of Attorneys General released a letter on Wednesday stating that all 50 states are filing an investigation into foreclosure documents that appear to have defects.

“Some representatives from some companies admitted in testimony that they weren’t actually reading the documents,” said Attorney General Jim Hood.

Because of the inquiry of foreclosures during the housing bubble, states are alleging that major corporations such as Bank of America and JP Morgan Chase hired “unqualified” employees to handle important foreclosure documents.

WLBT
8/14/10