Based out of New York City and featuring chapters in 150 countries, Bank of America Corporation (BofA) caters to millions of individuals and small businesses. One of the world’s leading financial institutions, BofA has recently undertaken several new initiatives.
In July 2012, BofA bought Kenwood Towne Place in Cincinnati for $27.5 million during a foreclosure sale. The property has caused significant controversy in the city, as contractors left it half-finished four years ago. This purchase will enable work on the large retail outlet and office complex to resume.
Also in July 2012, aware of the difficulties people are facing due to the recession, BofA conducted a foreclosure clinic on Long Island. At the Long Island Marriott, representatives from the bank spent three days teaching attendees about mortgage modification.
About Rao Chalasani:
A former executive with Merrill Lynch & Co., Inc., and Deutsche Bank AG, Chalasani acted as BofA Merrill Lynch’s Chief Technology Officer and Risk Strategist for Global Markets Trading Risk Management.