Myrtle Beach Real Estate

I will call this week The Foreclosure Central, for we have had more movement in the Foreclosure Scandal Arena than we've ever had.  The end of the week brought with it a flurry of activities and front page news:

-Bank of America halted Foreclosures in all 50 states. 

-Meanwhile, President Obama vetoed a bill that tacitly moved through both houses last week.  The bill would have made it more difficult for homeowners to fight fraudulent foreclosures.

-National Civil Rights Groups are calling for an Immediate Moratorium on all Foreclosures

-Several states have taken their own actions: Texas has stopped all Foreclosures yesterday, while California is putting intense pressure on Lenders to halt all Foreclosures in their state.  Meanwhile, Ohio is suing Ally Financial and its subsidiary GMAC Mortgage for submitting fraudulent documents in hundreds of foreclosure cases across the state.  

Follow the original stories below by clicking on the Title:

Bank of America imposed a nationwide moratorium on foreclosure

Bank of America Corp. imposed a nationwide moratorium on foreclosures and the sale of foreclosed homes after it came under intense pressure from a government-run housing-finance giant worried about documentation problems.

National Civil Rights Groups Renew Call for Immediate Moratorium on All Home Foreclosures

RISMEDIA, October 8, 2010—National civil rights groups, including the Leadership Conference on Civil and Human Rights, the National Fair Housing Alliance, National Council of La Raza, the NAACP, and the Center for Responsible Lending, are renewing their April 2007 call to institute an immediate national moratorium on foreclosures. The civil rights groups believe that until lenders demonstrate that they are adhering to all existing laws, regulations, and contractual guidelines related to loss mitigation and foreclosure legal process, lenders in all 50 states should not move forward with any foreclosures.

Obama Hits Brakes on a Bill That Could Speed Foreclosures

U.S. President Barack Obama on Thursday vetoed a bill that would've required courts to recognize out-of-state foreclosure documents as valid. Putting the brakes on the bill, which the House of Representatives passed in April and the Senate approved last month, signals caution at a time when allegations of flawed foreclosure documents are popping up around the country.

Lenders face pressure in California to stop foreclosures

Lenders are coming under increasing pressure in California to halt foreclosures.

Two advocacy groups -- the Los Angeles-based Alliance of Californians for Community Empowerment and the Greenlining Institute of Berkeley -- this week called for a California foreclosure moratorium.

The L.A. group said it was forming a separate organization to help homeowners fight foreclosures called the Home Defenders League.

Both groups also called on Atty. Gen. Jerry Brown to support a moratorium.

Ohio accuses Ally of 'fraudulent' foreclosures

  are being sued by the Ohio Attorney General for allegedly submitting fraudulent documents in hundreds of foreclosure cases across the state.

The lawsuit, filed Wednesday in Lucas County, comes after Ally halted foreclosures last week in Ohio and the 22 other U.S. states that require judicial approval of the process. The move came after it was revealed that some bank employees had signed foreclosure affidavits without verifying that the documents were accurate, a process now known as "robo-signing."