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JPMorgan Chase Freezing Foreclosures

Abstract: 
JPMorgan Chase is halting home repossessions amid concerns the paperwork backing those foreclosures is inaccurate.
Byline: 
Jonathan Sweet
Article Image: 

JPMorgan Chase is halting home repossessions amid concerns the paperwork backing those foreclosures is inaccurate.

That follows a similar decision by GMAC [1] to halt foreclosures in 23 states last week.

JPMorgan employees have admitted in depositions that they signed thousands of foreclosure documents without any knowledge that the documents were actually accurate.

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Source URL: http://www.housingzone.com/financials/jpmorgan-chase-freezing-foreclosures

Links:
[1] http://www.housingzone.com/article/mortgage-giant-gmac-halts-foreclosures-23-states-review