BofA to give away houses
Have too many foreclosed properties?
Why not give them away?
That's what Bank of America plans to do with as many as 150 vacant and abandoned properties in and around Chicago through a new "collaboration" with the city that's intended to address the problem of abandoned properties.
"Unfortunately," BofA said in a statement, "many homeowners faced with unemployment, underemployment and other economic hardships have transitioned to alternative housing situations, and in many cases, have walked away from their homes, leaving behind vacant and deteriorating properties that can cause neighborhood blight."
As part of the new effort, BofA plans to: [...]
~~~~~~~~~~
Follow me on Twitter: @marciegeff
I love the idea, although (complainer that I am) it would be nice if it were about, ya know, not leaving people homeless when there are empty homes all over instead of keeping nice neighborhoods nice so they'll maintain their value. But hey, it's a step in the right direction, or at least a step in a direction that leaves at least a few people in a less vulnerable position than they were. (And in fairness, this article is from a financial news site, so it makes sense for it's emphasis to lie in that direction. It's just that I suspect money really is the motivation and that any benefit to people from this initiative is largely a happy accident.)
Comments
Post a Comment