I'm watching a few auctions in NY right now and this disclosure caught my eye. What is a household member? is that a person that owns stock or is it a person that has a bank account? I'm stumped. • Bank of America, N.A. associates, household members and business partners are prohibited from purchasing REO properties, either owned or serviced by the Bank, whether directly or indirectly.

People who work for BofA, people who live with employees of BofA (household members) and business partners of people who work for BofA cannot buy the property.

@Sam Magina I don't think all of the stockholders could fit into one household. Unless you work for B of A, it doesn't apply to you.

Employees(associates) and Their household members.

Bank employees and their immediate family members are illegible in participation in liquidation of their employers assets. That applies every financial institution not just BAC.

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Updated about 7 years ago on 01/04/2018. Most recent reply

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Samantha MaginaPoster

Real Estate Agent
Westford, MA

Foreclosures

Auction: Bank of America customers prohibited from bidding?

Samantha MaginaPoster

Real Estate Agent
Westford, MA

Posted January 04, 2018 01:19

I'm watching a few auctions in NY right now and this disclosure caught my eye. What is a household member? is that a person that owns stock or is it a person that has a bank account? I'm stumped.

Bank of America, N.A. associates, household members and business partners are prohibited from purchasing REO properties, either owned or serviced by the Bank, whether directly or indirectly.

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