Sunday, October 24, 2010
BOA Sorts Foreclosures As Investors Threaten
Mediation might not come soon enough for homeowners facing foreclosure on their Bank of America mortgages. The bank halted all foreclosures earlier this month while it sorted out its paperwork problems. This week, the bank said the review is complete and it will resume foreclosures. But there's new pressure now from investors who want to force banks to buy back problem home-loans. Host Scott Simon talks with Joe Nocera, who writes the Talking Business column for The New York Times.
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