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05/30/09
Bank of America Home Loans Announces New Program to Help Municipalities Purchase Bank-Owned Properties
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:17 pm

Calabasas, Calif. - As part of its commitment to stabilize communities hardest hit by foreclosures, Bank of America Home Loans has announced new streamlined capabilities for municipalities to purchase properties from its real estate-owned (REO) portfolio. The new guidelines are exclusively for local and state government departments receiving U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP) grants, to more easily and quickly acquire foreclosed properties for resale to home buyers or to address other community development needs.  more…

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