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In reply to the discussion: Government Set to Sell Foreclosures in Bulk [View all]sulphurdunn
(6,891 posts)21. If I understand
this correctly the feds plan to sell off their foreclosed inventory at a discount by bundling mortgages and selling them to the same "institutional investors" who "bundled" mortgages that were instrumental in causing the real estate collapse and will now buy those bundled mortgages back so they can make money renting the properties they made money off selling previously to the same people? Can that be true? It can't be. Can it?
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On this one, I agree. It takes our neighborhoods from 'owned' to 'rented', and there's a difference
LaydeeBug
Jan 2012
#72
More socializing the risks, privatizing the profits. Bye, Bye Miss American Pie.
leveymg
Jan 2012
#7
These homes are already foreclosed on. So this will not keep families in their homes.
avaistheone1
Jan 2012
#34
I think these are homes where the people have long since vacated, and the government is paying
Hoyt
Jan 2012
#10
Then they shouldn't have booted the people who were taking care of the home for free out, now should
Lionessa
Jan 2012
#20
They could sell them to individuals to live in. But they'll bulk them out like many of the north
mbperrin
Jan 2012
#28
You forgot to add that you would be spending a few years in prison for your troubles.
former9thward
Jan 2012
#86
Fannie Mae took my home. I wonder how much they'll dump it for and why didn't they just
Lionessa
Jan 2012
#18
Exactly. Why not sell them for cheap to the people who owned them in the first place?
GreenPartyVoter
Jan 2012
#26
No, they won't. China has it's own very massive real estate bubble about to burst.
Ikonoklast
Jan 2012
#30
This proposal was part of Bernake's White Paper to Congress, with the administration's blessing
sad sally
Jan 2012
#32
Well of course they are. Make damn sure no 'little people' get ahold of one.
AtheistCrusader
Jan 2012
#33
in other words...the very people who created this mess stand to FURTHER benefit from it
noiretextatique
Jan 2012
#37
Teh mostest progressive president EVAH11!!!11!!1 His approval among "Liberal Dems" must be near 100%
Edweird
Jan 2012
#38
Mr. Obama is playing 13th dimension chess... and he really cares about his base.
lib2DaBone
Jan 2012
#48
When the homes sit idle, we call it Obama's fault. When the homes are rented, we call it Obama's
McCamy Taylor
Jan 2012
#50
Isn't this kind of what happened in Iceland? Or was that private banksters selling in bulk?
AllyCat
Jan 2012
#61
Freakin corrupt govt aholes could just create what was known as "Savings and Loans"
just1voice
Jan 2012
#62
So is this what the corporations sitting on record amounts of cash have been waiting for?
bluesbassman
Jan 2012
#63
Links to US Census data showing historic home ownership rates for the USA and by state...
slackmaster
Jan 2012
#76
So instead of selling them cheap to indivuals who can buy them to live in...
OneTenthofOnePercent
Jan 2012
#80