Bank of America building facing foreclosure

Atlanta’s Bank of America Plaza is one of the 10 tallest structures in the U.S. And thanks to troubles at its namesake Bank of America Corp. and other tenants, the skyscraper could be one of the tallest foreclosure tales of the financial crisis.

News came out recently that the company that owns the office building is struggling to meet its debt service as offices remain empty and the real estate crash continues to take a toll.

The Altanta Journal Constitution newspaper writes that, ”a company that specializes in troubled loans is making preparations for a possible foreclosure [of Bank of America Plaza] while negotiations continue on a deal to try to prevent the property from being seized by the lender, according to a report by Trepp, a real estate research firm.”

Check out the rest here…