bank of america: Bank of America and other Major Banks Giving Away Homes! - 10/13/11 07:00 AM
http://www.bankrate.com/financing/mortgages/bofa-to-give-away-houses/
Many national banks are jumping on the latest band wagon. Giving away homes to be demolished or upgraded to affordable rental housing actually can really help neighborhoods with high foreclosure rates and many abandon homes. Though they aren't doing it out of the goodness of their hearts it can benefit many people. Interesting article, give it a look!
 
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bank of america: Bank Of America's Controversial Program - 10/11/11 04:35 AM
http://www.sun-sentinel.com/business/fl-bank-of-america-short-sale-incentive-20111007,0,6366183.story
The homeowners are feeling relieved as they should. $20,000 is an unexpected and generous offer given the alternative. It does, however, have some people pretty angry that the bank is "rewarding" troubled homeowners with such a large payout. It's a solution to a very difficult market situation in Florida and not at all a reward. Whether you agree with the large payout or not it does seem to address the flood of properties on the foreclosure market and will help deplete the supply. Ultimately, it can level out the values and perhaps stabilize things.
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