Breaking News Alert: Sen. Reid calls on major lenders to halt foreclosures in all 50 states
October 8, 2010 12:56:49 PM
Senate Majority Leader Harry Reid (D-Nev.) called on major lenders to halt foreclosures in all 50 states Friday following Bank of America’s announcement it was stopping proceedings until it finishes reviewing possible paperwork problems.
Reid, who had sent a letter to major banks asking them to suspend foreclosures in Nevada, extended his concern to include all 50 states.
“I thank Bank of America for doing the right thing by suspending actions on foreclosures while this investigation runs its course," said Reid. "I urge other major mortgage servicers to consider expanding the area where they have halted foreclosures to all 50 states as well."
He emphasized, "My primary focus is to protect Nevada homeowners who have been hardest hit by foreclosures in the most recent economic downturn."
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