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Bloomberg | BofA Unit Ordered to Halt Foreclosures in Nevada

Bloomberg | BofA Unit Ordered to Halt Foreclosures in Nevada

[read order below]

By David McLaughlin – Jan 25, 2011 7:19 PM ET

A Bank of America Corp. unit, ReconTrust Co. N.A., was ordered by a Nevada judge to temporarily stop foreclosures in the state that aren’t approved by a court order.

Judge Robert W. Lane in Nye County, Nevada, issued a preliminary ruling that blocks ReconTrust from conducting nonjudicial foreclosures until he holds a hearing Feb. 28 on whether to make the ban permanent, according to a Jan. 20 order provided by the court. The injunction was sought in a Nevada homeowner’s lawsuit against Bank of America and ReconTrust.

Stopping the foreclosures is necessary to prevent the “irreparable injury” that would result from “unlawful” seizure of the plaintiff’s home by ReconTrust Co., the judge wrote. The ruling applies to any real estate or personal property in Nevada.

[ipaper docId=47571185 access_key=key-j4eoz7isozrvszwyw6k height=600 width=600 /]

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