© 2021 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Washington AG Sues BofA Subsidiary Over Foreclosures

Washington Attorney General Rob McKenna is accusing a Bank of America subsidiary of conducting several-thousand illegal foreclosures since 2008. McKenna filed a lawsuit Thursday against the subsidiary, ReconTrust. From the Seattle Post-Intelligencer: McKenna said ReconTrust violated the state's Deed of Trust law, which requires that a foreclosure trustee maintain an office in Washington . That's to help homeowners ask questions, make last-minute payments and request a foreclosure postponement. "ReconTrust's claim that the company doesn't have to follow Washington law and procedures because it is a national bank is wrong," McKenna said. In Washington , it's not the job of the courts to review foreclosures, according to the Seattle P-I report. Instead, banks hire trustees who are supposed to act as neutral third parties.