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Loan Modification

: Mortgage Lender Implode-o-Meter

PNC Owns Empty House, Buyer Sits in Motel as Foreclosure Mess Halts Sales

By Implode-Explode Heavy Industries

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"After Bank of America Corp. and other lenders delayed seizures almost two months ago to check their sworn court statements in thousands of foreclosures, a growing number of would-be buyers are struggling to close deals -- a sign that the documentation mess is dragging on the market. October sales of existing homes fell more than economists forecast, dropping 2.2 percent, the National Association of Realtors said yesterday."

Full post as published by Mortgage Lender Implode-o-Meter on November 24, 2010 (boomark / email).

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