Accord near to halt BofA foreclosures in Utah

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Accord near to halt BofA foreclosures in Utah

Accord near to halt BofA foreclosures in Utah

“All real estate foreclosures conducted by ReconTrust in the state of Utah are not in compliance with Utah’s statutes, and are hence illegal” –

READ | Letter from Utah Attorney General Mark Shurtleff to Bank of America President Brian T. Moynihan re: ReconTrust “ILLEGAL”

Salt Lake Tribune-

The Utah Attorney General’s Office is close to an agreement to halt what it considers illegal foreclosures by Bank of America, which has conducted a majority of foreclosures against homeowners since the subprime-fueled collapse of the housing bubble.

The attorney general’s office had intervened in a homeowner lawsuit to argue that BofA was illegally foreclosing on properties in Utah. But recently it has been negotiating a settlement over foreclosures conducted by ReconTrust, a unit of the giant banking corporation.

A.G. spokesman Paul Murphy said Wednesday an accord is near. Although he declined to provide details, Murphy said in an email that “any settlement would require that all illegal activity [by ReconTrust] stop.”

[SALT LAKE TRIBUNE]

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