Will my state stop foreclosures?

According to Bloomberg the attorney generals of 40 states may choose to start legal action to stop banks from foreclosing on thousands of homeowners who have fallen behind on their monthly payments.

According to the article:

State attorneys general led by Iowa’s Tom Miller are in talks that may lead to the announcement of a coordinated probe as soon as Oct. 12, said the person, who declined to be identified because a final agreement hasn’t been reached. The number of states may change because several are still deciding whether to join the investigation, the person said.

New Mexico Attorney General Gary King said today in a statement that his state will join a multi-state effort. Lawyers representing the banks are expecting a more widespread investigation, according to Patrick McManemin, a partner at Patton Boggs LLP, a Washington-based law firm that represents banks, loan servicers and financial institutions. Bank of America Corp., the biggest U.S. lender, today extended a freeze on foreclosures to all 50 states.