Bank Of America And Kansas City Come To Terms With So Many Vacant Houses . . .

The Star offers some follow-up reporting on a deal that addresses so many empty homes: "In a deal that Kansas City officials hope will be replicated by other lenders, Bank of America on Tuesday promised to donate 75 houses to the city along with up to $875,000 to rehabilitate or demolish those structures."

Comments

  1. Anonymous2/29/12, 6:00 AM

    fuck bank of america..if they would have worked with people they would not have these homes to donate(or get of the books to make them look stronger)..this taxpayer bailed out firm is the worst in customer service...

    ReplyDelete
  2. Anonymous2/29/12, 7:30 AM

    These were probably hgomes BofA wound up with as a result of their being coerced into taking over Countrywide's mess. Many of these may well have been fraudulently refinanced by owners (many of which were landlords like Charlie Williard) who then abandoned them.

    This is a step in the right direction. It's a small step, but it's a step.

    ReplyDelete
  3. Anonymous2/29/12, 8:26 AM

    This is a crock, it just means KC Taxpayers will have to pay to maintain the properties and no tax revenue will be generated...BofA takes a tax deduction and we get the bill! Fools!!

    ReplyDelete
  4. Editor2/29/12, 9:41 AM

    B of A crunched the numbers and determined it would be cheaper to dump them and pay $875,000, take the loss and get the tax break and get them off their hands rather than handle them normally at auction. The key stat is that 50 of these houses are "not worth saving" and will be demolished.This tells you that B of A was financing junk properties in the first place. B of A knows it can't resell these properties - nobody is is investing in that area - and it's just unloaded its dirty laundry on the City who can't afford to do anything with them either. The only winner is B of A. Certainly not the homeowners who were suckered into the predatory loans in the first place. The rest is all PR bullshit.

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  5. THE TRUTH2/29/12, 10:39 AM

    6:00 AM is right ... Bank of America could have and should have been working with the owners who were under-water instead of foreclosing.

    ReplyDelete
  6. Anonymous3/1/12, 7:12 AM

    Fraud from the START!

    ReplyDelete

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