Bank of America Giving Away 150 Homes in Chicago

By Chuck Sudo in News on May 25, 2011 6:52PM

What if we told you Mayor Daley did a good deed on the way out of office? (He was capable of it.)

According to this press release (via Consumerist) the city and Bank of America are working together to give away 150 homes in the city. It's good PR for the city, for Bank of America, and it helps them get some properties off their ledgers.

According to the press release, BofA and the city will "(identify) up to 150 vacant and abandoned properties in default to be referred to the newly created Cook County vacant and abandoned building court call, intended to move confirmed vacant and abandoned properties through the foreclosure process more quickly and return them to stable, productive use," "(contribute) toward the costs of demolishing deteriorating buildings on these donated properties to relieve the financial burden of the city," and "(donate) foreclosed and vacant condominium units to the nonprofit Community Investment Corporation for its Troubled Condos Initiative, a partnership with the city to upgrade, preserve and stabilize management of affordable rental housing."

Seeing as how BofA is one of the culpable parties in the housing crisis, this is the least they can do.