UPDATE 1-BofA to begin refiling foreclosures

* BofA notifies attorneys to refile 16,000 foreclosures

* First large amount filed since foreclosure ban lifted

CHARLOTTE, N.C., Dec 10 (BestGrowthStock) – Bank of America Corp
(BAC.N: ) restarted about 16,000 home foreclosure cases across
the United States earlier this week, a company spokesman said
on Friday.

Bank of America spokesman Dan Frahm said the bank notified its
outside attorneys on Monday to resume foreclosure proceedings on
the first significant amount of homes since the bank lifted its
repossession ban in October.

Many banks, including Bank of America, JPMorgan Chase & Co
(JPM.N: ), Citigroup Inc (C.N: ) and Ally Financial, had temporarily
suspended the foreclosure process for some time amid a firestorm
of allegations that banks used “robo-signers” to sign hundreds of
foreclosure documents a day without proper legal review.

For BofA’s latest round of foreclosures, the homes are
primarily vacant or non-owner occupied houses, said Frahm. Of
the 16,000 properties, 7,800 are in states where a judge must
approve any home repossession.

In those states where court approval is not required for
foreclose on a home, the bank has asked its attorneys to lift
the hold on 8,000 delayed foreclosure sales.

The majority of the reopened foreclosure cases are in Florida,
California, Texas, Georgia and Michigan.

In October the bank said it planned to refile 102,000
foreclosures in so-called judicial foreclosure states, with 70
percent of those cases in Florida.

Frahm said of the 7,800 cases being refiled in foreclosure
states, the “vast majority” are in Florida.
(Reporting by Joe Rauch; Editing by Phil Berlowitz)

UPDATE 1-BofA to begin refiling foreclosures