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Bank of America sells repossessed homes in bulk
For the second time in five months, Bank of America is tapping the red-hot market for repossessed homes in the US by seeking bids on a bulk offering of several hundred single-family homes. Over the past several weeks, the nation's second-largest bank by assets has solicited bids for a bulk deal that includes up to 500 largely vacant single-family homes, some of which it acquired after its merger with Countrywide Financial, according to several sources within the real estate and mortgage sectors. Countrywide was one of the largest sub-prime lenders in the US. The bulk deal, which includes homes in California, Florida, ... (full story)
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