Bank of America comes through | Arkansas Blog

Monday, February 20, 2012

Bank of America comes through

Posted By on Mon, Feb 20, 2012 at 8:59 AM


It's not official yet, but it looks like Bank of America has decided to go ahead with the home loan that will allow Valarie Abrams to move into the city's first shipping container home, bringing to a close a saga of home ownership promised (here) and withheld (here).

The bank had denied the loan for the house in the Pettaway neighborhood — which Abrams entered into a contract with the Downtown Little Rock Community Development Corp. to buy two years ago — just as the house was move-in ready, on the basis that it was too "unusual" to accurately appraise. Abrams was closely involved with the final touches on the home, including paint colors and lighting fixtures.

Abrams got the word late Friday that she was cleared to close and that the Neighborhood Assistance Corp. of America, which worked with Abrams to get the loan, would be formally notified Tuesday. That's good news both for Abrams and the DLRCDC.

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