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BofA Giving Away Homes

Injured military veterans among recipients

Aug. 27, 2012

By MortgageDaily.com staff


Injured military veterans are among the recipients of as many as a thousand properties being donated by Bank of American Home Loans.

The homes, presumably real-estate-owned assets acquired through the foreclosure process, will be made available over the next three years.

More than two dozen homes have already been donated by BofA through two organizations -- Military Warriors Support Foundation and Operation Homefront.

Just last week, BofA presented keys to the new homes of retired servicemembers who were injured serving in Operation Enduring Freedom. A three-bedroom home was donated through the Military Warriors Support Foundation to Eric Griego and his family in Tucson, Ariz. BofA gave another house in San Antonio, Texas, to Matthew Sheffel and his family through Operation Homefront. Sheffel had been living in a remote cabin.

In addition to injured military veterans, the BofA homes will go to first responders.

Up to 1,000 properties will be made available to nonprofit organizations and local government programs that provide homes to such groups.

"We understand our responsibility to help neighborhoods impacted by foreclosure and property abandonment to recover," D. Steve Boland, national mortgage outreach executive for BofA, said in the announcement.

Discussions are underway with other groups, while homes will also be provided through property donations to affiliates of Habitat for Humanity and other affordable housing organizations.

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