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Austin Real Estate -
Residential
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Many lenders are taking steps to correct errors in paperwork regarding mortgages and foreclosures from the past months and years. Some, including Bank of America, have decided to put a halt on all foreclosure sales until the documents are examined more closely to make sure everything was legal and binding. People are fighting back to keep their homes, finding mistakes in contracts and refusing to move out of their homes, even if they have been bought by someone else. It seems as though more blame is being put on the lenders and the un-monitored processes that were taking place to get people locked into mortgages, causing the housing crisis. Texas Attorney General Greg Abbott has sent our letters to 30 lenders asking them to halt all foreclosure sales until they could prove that their methods followed state laws.
Blog inspired by article written by Barry Harrell featured in The Austin American Statesman and can be seen here: http://www.statesman.com/business/real-estate/bank-of-america-halts-foreclosure-sales-nationwide-962157.html
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