Habitat for Humanity finds success in one-stop REO shop

Priority access to bank-owned inventory among perks

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

This past October, Bank of America earned a considerable amount of negative publicity after it announced it would pay $7,500 to tear down foreclosed houses in a handful of Midwestern cities.

As it turned out, these were some of the most decrepit houses in cities such as Cleveland and Detroit and probably should have been torn down a long time earlier. It was more expensive to maintain the buildings than they were worth.