Want a house for free? Bank of America is giving away 150 of them in Chicago. It’s a great plan. The bank gets some worthless properties off its books without the cost of trying to hold on and sell them, the city gets some cheap affordable housing, and BofA gets a PR bump. It’s win-win-win, with two of those wins being Bank of America’s. That’s the Chicago way.
How did an Iowa couple with two foreclosures already under their belts get to own their house free and clear after making only one mortgage payment? By taking advantage of a law designed to keep married couples from making huge financial commitments without the other’s consent. Since the wife was late to their closing and didn’t sign the mortgage, the couple now owns their house free and clear after making only one payment.