CHARLOTTE, N.C.,None — For months, Angela Jennings said she searched for the perfect home for herself and young daughter, finally finding a townhome under foreclosure in Indian Land.
It had been vacant for months, Jennings said.
"(We) finally got a closing date. I was so excited on Thursday that I was supposed to close by Monday at 11 a.m.," Jennings said. "Only to get a phone call 30 minutes later that I couldn't buy the house."
Even though she has already leased out her old apartment and bought appliances for her new home, Jennings can't buy the house because the foreclosure has been halted by the Bank of America. The bank stopped sales of foreclosed homes across the nation on Friday. For more information on that decision, click here.
Real estate agent Phil Puma said the foreclosure halt is affecting him, as well. He was set to close on a northwest Charlotte home on Friday and had an eager buyer under contract.
Now, the home will stay vacant for the time being.
"It'd be nice to have some knowledge to be able to convey over to our buyers, but unfortunately we just don't have anything to let them know," Puma said.
A representative from the North Carolina attorney general's office said as of now, there is no timetable as to how long foreclosures could be on hold.
For people like Jennings, an end can't come soon enough.
"They thought they were helping people," she said. "In actuality, they're hurting a lot of people. They're hurting a lot of families."
Bank of America CEO Brian Moynihan said it could be a matter of weeks before the foreclosure issue is resolved.
WSOC
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