Home > Uncategorized > BofA Donates, Then Demolishes Houses to Cut Glut

BofA Donates, Then Demolishes Houses to Cut Glut

Bank of America Corp. (BAC), faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones:   a bulldozer.

The biggest U.S. mortgage servicer will donate 100 foreclosed houses in the Cleveland area and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. The bank has similar plans in Detroit and Chicago, with more cities to come, and Wells Fargo & Co. (WFC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Fannie Mae are conducting or considering their own programs.

The rest of the article;

http://www.bloomberg.com/news/2011-07-27/bank-of-america-donates-then-demolishes-houses-to-get-rid-of-foreclosures.html

Dave & David Warner
 

FacebookLinkedInTwitterWordPress

Advertisements
  1. August 4, 2011 at 9:47 AM

    6 Number of Firms with Payroll in the City of Detroit …………………………………… 7 Number of Paid Employees in Firms with Payroll in the City of Detroit ……………

  2. August 18, 2011 at 12:28 AM

    The post you wrote is really nice.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: