Habitat for Humanity finds success in one-stop REO shop

Priority access to bank-owned inventory among perks

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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.