Record numbers of houses bank foreclosures have largely caused the collapse of banks in the U.S. this year. Four more banks failed in Florida and California this month, putting the total of failed banks to 124 so far this year.
Bank of America has filed a $20 million condo foreclosures case on developers of a condominium complex in Florida. The case was a result of nonpayment of last year’s property taxes and $22.4 million loan principal, plus interest and late fees.
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