First let’s review to see if this is the first time that Bank of America has been accused of pretending to modify loans:

BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

Arthur Delaney - 07/12/2010 02:00 PM In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration’s mortgage modification program by lying to borrowers about missing paperwork and fudging their financial information, among other things… (Huffington Post)

Read more on Bank of America Sued by Arizona and Nevada for Fraudulent Loan Modifications…

Last week the several major newspapers released the news that Bank of America was finding “errors” in the paperwork. The Bank claimed that they found maybe 10 to 25 errors in the first 100 files reviewed; of course many are concerned over the bank’s inability to say if it was ten or eleven, or twenty-five. This week, despite their admittance of “flawed foreclosures” (that’s just a pretty word for predatory foreclosures or fraudulent foreclosures) they announced that their Foreclosure Frenzy will resume at full speed in 23 states (the judicial states) and Bank of America also claimed foreclosure numbers should be around 100,000. GMAC also announced they will resume their foreclosures as well. JP Morgan Chase has remained silent on the subject thus far.

Read more on Bank of America and GMAC to Resume Foreclosures…

Over the past several days three of the major banks have released to the news that they have stalled foreclosures. A closer look reveals that the lenders GMAC, Chase, and Bank of America have only stalled foreclosures for an estimated two to four week window in 23 states. The 23 states are those which specifically use the judicial system to get foreclosures completed. This means that if you are in a state that does what is known as a non-judicial foreclosure, such as California, then your foreclosure is not stalled.

Read more on Lenders Are Still Foreclosing in 27 States…