November 13, 2007

Bank of America to write-off 3 bln dlrs tied to mortgage bets (AFP)

A woman uses an ATM at a Bank of America branch in New York City. Bank of America will likely have to write off around three billion dollars in troubled debt related to subprime mortgages, a senior executive warned Tuesday.(AFP/Getty Images/File/Mario Tama)AFP – Bank of America will likely have to write off around three billion dollars in troubled debt related to subprime mortgages, a senior executive warned Tuesday.

Filed under Real Estate Blog, Real Estate Business by Yahoo! News: Business - Real Estate

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