Bank donation of REO property?

Bank donation of REO property?

Forum topic posted in Forum on 2 January 2009| comments
audience: | last updated: 2 January 2009
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P D
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Joined: 08/09/2008
Points: 180
Is there any advantage of a bank to donate an REO property to a 501c3? Also, it is better for the bank to donate the property before it takes it back as an REO - so the bank might be able to write off fees, lawyer cost and foreclosure costs ? We are looking for patient housing and we are we want to approach our local bank.

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