Bank of America Announces Redo of 102,000 Foreclosures

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WASHINGTON -- Bank of America announced Monday that it will resubmit flawed foreclosure paperwork to judges in 102,000 cases.

BofA will amend documents required for foreclosure actions in 23 states by Oct. 25. 

A BofA spokesman said it expects fewer than 30,000 foreclosure sale delays since initial assessments found that the bank was accurate in coming up with its bases for foreclosure decisions.

"Our decision to review our process and later, to extend our review to all 50 states, has been an important step to give customers confidence they are being treated fairly," said spokesman Dan Frahm. "We will continue to delay foreclosure sales in the remaining 27 states until our review is complete on a state-by-state basis."