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ShirLee McGarry's Homes4SaleUtah BLOG, features great articles for consumers, homeowners and Realtors® addressing community, local, state and national real estate news. Articles also include refreshing humor to encourage smiles and support for all real estate warriors in the trenches who do stand out to make a difference in their client's lives in the exciting and challenging world of the Realtor®. Penned by Associate Broker-Realtor®,and Registered Author, ShirLee McGarry® with RealtyPath in Sandy, Utah

Thursday, March 15, 2012

Bank of America Bans Employees From Buying Distressed Properties

Bank of America

Policy Reminder for the Sale of Bank of America
Short Sale, Real Estate Owned (REO) or
Foreclosed Properties to Bank of America Associates
      

Consistent with other large national mortgage servicers, Bank of America prohibits the purchase by associates of distressed assets, including REOs, short sales and foreclosures.

Under the bank’s policy, bank associates and members of their households may not purchase bank REOs, short sales and foreclosures. Members of the household include spouses, domestic partners, dependent children who live with the bank associate, or any other person who derives his or her primary means of financial support from the bank associate (household members).

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