Bank of America (BAC) made a three-year commitment to give 1,000 homes to nonprofit organizations and local governments that will turn the homes over to military veterans and first responders.
The announcement comes the same week that Wells Fargo (WFC) announced it would give the nonprofit Operation Homefront up to $500,000 in bank-owned real estate to give to military families.
So far, Bank of America (BAC) says Eric Griego, a military veteran and his 5-year-old daughter have moved into a three-bedroom home in Tucson, Ariz.
Then, in San Antonio, Matthew Sheffel, who was living in a remote cabin, moved his 10-year-old daughter and 6-year-old quadruplets into a much larger property.
The homes are gifts from Bank of America sent through its relationship with Operation HomeFront.
About two dozen BofA homes have been donated to military and first responders so far.
