Bank of America makes it easier for Sandpoint to buy its Foreclosures
While local banks are working with the business community and non-profits to provide assistance to home owners and home buyers; Bank of America has decided to make it easier for states and cities to purchase foreclosures in Sandpoint and across the country before investors buy the property.
I have discussed the U.S. Department of Housing and Urban Development’s Neighborhood Stabilization Program in the past.
This is the initiative that encourages redevelopment of neighborhoods that have suffered the most due to foreclosures and facilitating the resale of properties to home owners.
Bank of America will now notify participating cities that properties are available before they are listed on the MLS. The company will set the price with no haggling allowed.
Stay tuned for how this interesting development might affect us in Sandpoint, Idaho.
