BofA Exploring Large Bulk Sale of Foreclosed Homes

[Carlos Flores]

"Citing unnamed industry sources, Reuters reported late Thursday that B of A has put out word to institutional investors that it is accepting bids on up to 500 mostly vacant, single-family homes in California, Georgia, Florida and several other states. B of A inherited at least some of the properties four years ago when it acquired Countrywide Financial, which had been the country's largest subprime lender."

Read more: http://www.americanbanker.com/issues/177_72/bofa-foreclosures-bulk-distressed-assets-1048382-1.html