Bank of America is donating -- and in some cases bulldozing -- some of its foreclosed houses, according to Boston.com. The paper reports that the bank will donate 100 Cleveland-area homes located in communities eligible to receive grants from the federal Neighborhood Stabilization Program.
The lender is not being purely charitable, though: The giveaways actually help the bank more than they hurt it. By ridding itself of the dregs of its foreclosed homes, the bank foregoes the hassle and cost of selling them.
- People Who Retire Comfortably Avoid These Financial Advisor Mistake…
- The Worst Way to Withdraw From Retirement Accounts
- 2020: How to Maximize Your Savings
- Historic Refi Rate Alert: 1.99% APR. Can you save?
- Need Cash? How to Access Your Home's Equity
- Experts Recommend to Refi Before Rates Keep Rising
- Home Mortgage Rates Drop Sharply This Week
- HARP Refinance Program is Over. Now What?
- Digital Mortgage Platform Helps Home Buyers Shop for Mortgages
- Cards Charging 0% Interest Until Nearly 2023
- You Could Earn 100K Points With This Astonishing Travel Card
- Get Financially Fit with these Credit Cards
- Forget the 30yr mortgage if you owe less than $822K (Do this instea…
- How to pay off your house ASAP (So simple it's unbelievable)
- Congress Gives Veterans A Generous Mortgage Relief Program