Reports are coming out this morning that Bank of America will halt all foreclosures in the entire United States. Last week Bank of America had announced that they will halt foreclosures in 23 states, however, it appears that they have extended this to all states in the US.

Bank of American decided to stop the processing of foreclosures last week because they wished to investigate the procedures being used in evaluating foreclosure filings. Reports indicated that some employees of the bank had taken less then a couple minutes to evaluate each filing before approving them.

There has been no word as to how long the delay will be before they start processing foreclosures once more, however, the delay may in fact help some homeowners hold onto their homes. The hope, by many, is that other banks will follow suit.

Bank of America is the largest bank holding company in the United States. With over 280,000 employees worldwide, they serve clients in over 150 countries. Last year the bank had revenue of $150 billion, and net income of $6.2 billion.