Trump Leaves BofA Holding The Bag On $22.8M Foreclosed Mansion; Buys Driveway, Front & Back Yard Out From Under Desperate 'Looking To Unload' Bankster

MSN Money reports:

• This is one foreclosure that won't go Bank of America's way. Donald Trump is putting a huge squeeze on the bank as it tries to foreclose on a 24,000-square-foot estate in Virginia. Bank of America owns the house and is trying to sell it for $16 million, The Wall Street Journal reports.



• Maybe the bank could sell a normal estate for that much, but not in this case. You see, Trump owns the backyard, the front yard and most of the driveway. He doesn't own the house itself, but he's willing to take it off the bank's hands for, oh, $3.6 million. Ah, you gotta love the Donald.(1)



• Here's how this nightmare for Bank of America came about: [...]

For more (the short version of the story), see Donald Trump squeezes Bank of America (The company is trying to sell a huge estate it foreclosed on. But the business magnate's cagey moves present a problem).

For the long version of the story, see The Wall Street Journal: The Fall of the House of Kluge Leads to the Rise of the Yard of Trump (The Donald Snaps Up Lawn, Driveway of Foreclosed Manse; Bank Is Not Amused):

• To make his point, he has erected signs on the front lawn of the mansion that read, "No Trespassing. This Land is Owned by Trump Virginia Acquisitions LLC," aimed at warding off possible buyers. He has also let the lawn go to seed.

(1) Commenting on BofA's attempt to unload the foreclosed mansion that once secured its $22.8 million mortgage:

• Trump could hardly contain his glee. "Maybe someone is stupid enough to buy the house," he said. "I wish them luck."