Bank of America Halts Foreclosures in All 50 States

[justbroke]

We are wondering the same thing. Our sherrif sale happened 3 weeks ago. I am unsure if it sold or not, but wonder if this halts our 6 month retention period (MI).

This won't halt a redemption period. This is a voluntary suspension of the foreclosure lawsuits themselves.

[justbroke]

So, I wonder how this will affect my ability to ever get rid of my house? (I included it in BK and I WANT them to take it.)

You can't force them to take it. This just means they will probably withdraw their foreclosure suits in most of the 50 States... fix the paperwork... and start over. This is probably a 3-4 month delay. Those in Florida, are enjoying 11 months of free rent anyhow.

[dmbshop]

We are wondering the same thing. Our sherrif sale happened 3 weeks ago. I am unsure if it sold or not, but wonder if this halts our 6 month retention period (MI).

[hedgecat]

So, I wonder how this will affect my ability to ever get rid of my house? (I included it in BK and I WANT them to take it.)

http://news.yahoo.com/s/ap/20101008/ap_on_bi_ge/us_foreclosure_mess

How will it affect you? Has anyone found out anything?