UNDATED (Indiana's NewsCenter) - The pace of home foreclosures may not be slowing down much after all.
Bank of America announced it plans to resume the foreclosure process on more than 100,000 homes in 23 states next week. They will restart the foreclosure process after receiving judicial authorization.
It says it has a legal right to foreclose, despite accusations that documents used in the process were flawed.
Meanwhile, GMAC Mortgage will also resume foreclosures once documents are fixed.
Analysts expect other lenders to correct problems with the way they handled documents and preceded with a wave of foreclosures.
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