BofA Donates, Demolishes Houses to Cut Foreclosures

July 29 (Bloomberg) -- Bank of America Corp., 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. Cali Carlin reports on Bloomberg Television's "InsideTrack." (Source: Bloomberg)