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Let's see, Gov sell bundles of under-priced foreclosures to private equity investment houses, with financing subsidized by the same Gov, in order for these investors to rent them out to the low and middle classes ... hmm
Keeps housing from falling more (preventing me from buying), after joe not given access to foreclosure sales since they're bundled (preventing me from buying), guaranteeing or subsidizing financing (putting me and every other schmuck on the hook) - another privatize profits and socialize risk to boot
Jefferson sure was right
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs"
http://www.bloomberg.com/news/2012-0...mortgages.html
Foreclosures Draw Private Equity as U.S. Sells HomesPublic-Private Partnerships
The Federal Housing Administration, which also will participate in the rental program, had 32,170 real-estate owned homes seized from borrowers, also known as REOs, as of Dec. 31, according to spokesman Lemar Wooley.
Possible aspects of the program include public-private partnerships to share the risk and profits, “seller financing” guaranteed by the government and rent-to-own opportunities for tenants, according to a November memo
Keeps housing from falling more (preventing me from buying), after joe not given access to foreclosure sales since they're bundled (preventing me from buying), guaranteeing or subsidizing financing (putting me and every other schmuck on the hook) - another privatize profits and socialize risk to boot
Jefferson sure was right
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs"
http://www.bloomberg.com/news/2012-0...mortgages.html
Foreclosures Draw Private Equity as U.S. Sells HomesPublic-Private Partnerships
The Federal Housing Administration, which also will participate in the rental program, had 32,170 real-estate owned homes seized from borrowers, also known as REOs, as of Dec. 31, according to spokesman Lemar Wooley.
Possible aspects of the program include public-private partnerships to share the risk and profits, “seller financing” guaranteed by the government and rent-to-own opportunities for tenants, according to a November memo