Government Set to Sell Foreclosures in Bulk

Insider deals for the well connected and political donors. This is the kind of crap that quite a few people could agree on, no matter what the party or degree on the political spectrum.

Reagan had the only answer. Shrink government; and the money just isn't there to pass to one’s political cronies.

This is the kind of stuff Palin could have leveraged big time had she run

I looked at foreclosures for over a year before I finally found an affordable nonforeclosure. I subscribe to Fanny and Freddie listings and still get their updates. When I would find a new listing that I might be interested in I would go to the County Assessor’s office and find out how much Fannie/Freddie paid for it. I found a fairly nice older home in a neighborhood I liked and got very excited when I saw that Fannie acquired it for $103K. I happened to have that ammount in my bank so I talked to neighbors etc and etc. No one had lived in the house for 3 years and animals had gained entrance, which meant lots of work. Anyway, Fannie put the house up for sale for $193K! Several months later it is still on the market but the price goes down every once in a while.

Long and short of it is they could have sold this house to me 6 months ago but instead it will probably go to one of these investor consortiums for $40K or so and become a rental. This is our government at work, making wise use of tax payer dollars as usual.

Excellent article and exposure of the way this administration runs whatever they can get their hands on.

Obama, Barney Frank et al paying off their buddies and making it even more difficult for ordinary citizens to own their own homes.

As was mentioned already, these homes that could be sold for what was paid for them will be drastically discounted so there will be many more rentals occupied by people that could have bought the homes.

Gotta keep close control of the people and pay off your buddies if the Marxist state is to be implemented.

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