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August 3rd, 2011 11:46 PM

 

Bank of America Corp., faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.

The biggest U.S. mortgage servicer will donate 100 foreclosed houses in the Cleveland area and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. (Source: Bloomberg)

Posted by Victoria Alexander on August 3rd, 2011 11:46 PMPost a Comment (0)
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