Let’s keep pushing those foreclosures through, so we can demolish the homes!

We are really coming to a crossroads here folks. Millions of families are being kicked to the streets, so they can bulldoze the homes?

There is something very wrong with what this has come to…

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BofA Donates Then Demolishes Houses to Cut Glut of Foreclosures

Bank of America Corp. (BAC), faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.

The biggest U.S. mortgage servicer will donate 100 foreclosed houses in the Cleveland area and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. The bank has similar plans in Detroit and Chicago, with more cities to come, and Wells Fargo & Co. (WFC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Fannie Mae are conducting or considering their own programs.

Disposing of repossessed homes is one of the biggest headaches for lenders in the U.S., where 1,679,125 houses, or one in every 77, were in some stage of foreclosure as of June, according to research firm RealtyTrac Inc. of Irvine, California. The prospect of those properties flooding the market has depressed prices and driven off buyers concerned that housing values will keep dropping.

“There is way too much supply,” said Gus Frangos, president of the Cleveland-based Cuyahoga County Land Reutilization Corp., which works with lenders, government officials and homeowners to salvage vacant homes. “The best thing we can do to stabilize the market is to get the garbage off.”

Be sure to check out the rest of the article here…

Remember this?

Let’s Bulldoze The Foreclosed Homes Because the “Fixtures, the WIFI, or Whatever, Even the Colors are Not Going to be Stylish By the Time Someone Buys Them”

How has it come to this?

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4closureFraud.org