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That is not the program mentioned in the article. They are packaging up thousands of homes and selling them in multi-million dollar blocks. Unless you quickly start a hedge fund, or you are with Goldman Sachs, you will be left with the undesirable scraps.
That is not the program mentioned in the article. They are packaging up thousands of homes and selling them in multi-million dollar blocks. Unless you quickly start a hedge fund, or you are with Goldman Sachs, you will be left with the undesirable scraps.
True but I also buy allot of houses from groups like this that buy 500 to a 1000 houses all over the country for 40 cents on the dollar and resale to me at 55 cents on the dollar. It works for me because I do not buy outside my area and I get them before they hit the MLS.
Bascailly the governamnt does not have the people want to spnd the mney to unbundle thsoe homes. that was part of why Geithner proposed a priavte'pun bic plan to spi them offf as only the public sectors has the abilty to do so. But that went under with teh hiar cut bonsholders took with chrysler/GM forced bankrpusy terms.thsoe bundles have both bad and good loans in them and is a massive job to unbundle.Fannie and freddie have done a loosing job in therir programs cost boith governamnt ans man who refied money.
As an Obama voter, I am very dissappointed in this. What should I do though? Vote for Perry? You think he'd be a better protector of public assets and funds?
Looks like a lot of section 8 homes just opened up for business. Get ready for your new neighbors folks moving in right next door and your paying the rent for em.
That is not the program mentioned in the article. They are packaging up thousands of homes and selling them in multi-million dollar blocks. Unless you quickly start a hedge fund, or you are with Goldman Sachs, you will be left with the undesirable scraps.
I have worked on many HUD homes.
Beautiful homes.
And yes, they want to bundle them and move them out of their supply.
Last summer I was asked if I wanted to by a home in Detroit for $1.
When I said no, I was asked if I would take 5 for a $1.
It's pretty simple; when the government, and primarily the Democrats, do stupid things and/or enact stupid policies, people are bound to get filthy stinking rich, as investor John Paulson & Goldman Sachs did in 2008 after shorting the housing market.
Yup..these are the folks voted into office because of the bad policies of Bush.
This administration was going to take the government back "for the people".
How's that working out ?
Oh HappyTexan;
i think you already know the answer to this question. This administration has divided the people, and have definitely not taken the government back for us little people.
NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.
These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.
You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.
Liberals wanted and electedthe Wall Street banksters' puppet as president. Now you're crying about what you chose?
Perhaps more effort should have been expended learning about exactly who Obama was and who owned him before you elected him.
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