Faye Dunaway Facing Eviction From Rent-Stabilized Upper East Side Apartment

Faye Dunaway.Photo: Paramount Pictures

# 8/3/11 at 11:55 AM # 42Comments

The takeaway from today's New York Times article about a lawsuit over actress Faye Dunaway's Upper East Side apartmentis not that she's another movie star unfairly using New York's rent stabilization laws to keep a posh pied-á-terre in the city. (Although, evidence suggests that she does live in West Hollywood and is using the $1,048.72-a-month East 78th Street walk-up as a living space for her son, Liam Dunaway O'Neill.) No, the point the paper seems to try to make is that Ms. Dunaway is ... kind of ... poor:
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BofA Donates Then Demolishes Houses to Cut Glut of Foreclosures

Bank of America Corp. (BAC), faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.

The biggest U.S. mortgage servicer will donate 100 foreclosed houses in the Cleveland area and in some cases contribute to their demolition in partnership with a local agency that manages blighted property. The bank has similar plans in Detroit and Chicago, with more cities to come, and Wells Fargo & Co. (WFC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Fannie Mae are conducting or considering their own programs.

Disposing of repossessed homes is one of the biggest headaches for lenders in the U.S., where 1,679,125 houses, or one in every 77, were in some stage of foreclosure as of June, according to research firm RealtyTrac Inc. of Irvine, California. The prospect of those properties flooding the market has depressed prices and driven off buyers concerned that housing values will keep dropping.
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