On October 8, Bank of America announced they were going to be delaying foreclosures in all 50 states because they need to make sure they did not foreclose on thousands of homeowners without verifying the information in their foreclosure documents.  Bank of America is not the only bank to sign foreclosure documents without making sure the information in them is correct.  Ally Financial Inc.'s GMAC Mortgage unit, JPMorgan Chase, and PNC Financial Services Group Inc. have also stopped tens of thousands of foreclosures after it became known they were not verifying the information in their foreclosure documents.  JP Morgan Chase stopped the foreclosure process on more than 50,000 homes so they could review the documents, and, after finding procedural mistakes in some foreclosure affidavits, GMAC Mortgage stopped some evictions and foreclosure sales in 23 states.  On October 8, PNC Financial Services Group Inc. said they were stopping foreclosures and evictions in 23 states so they could review their documents.  Here in California, Attorney General Jerry Brown asked JPMorgan Chase to stop their foreclosures unless they can confirm they’re following our consumer protection law, which requires lenders to contact homeowners at risk of foreclosure to see if they qualify for mortgage assistance.  These developments could cause thousands of homeowners who were foreclosed on to contest their pending or completed foreclosures. 

For further information, check out this article from the New York Daily News and this article from the Associated Press.