Out of State Lenders Own Most of Foreclosed Homes in Connecticut and Make it harder to Stabilize the Housing Market »
Posted By altnrg 7 months ago in NewsPotential homebuyers of Connecticut foreclosed homes are finding out that majority of repo homes for sale in the state are legally owned by out-of-state lenders who are not keen on selling the repo homes immediately.
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CHAM7 months ago
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And I think we all know why. Devalue the asset, and charge off the loss, then get the bailouts to cover the losses, but the assets back at a discount, they resell at a profit and a higher rate of interest ( when up front new costs are put in play ) and those lenders have just played the public for suckers, of course they had the help opf the complicit politicians.
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katewood337 months ago
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Absolutely correct CHAM. It's about time the public became aware of the biggest scam ever perpetrated against the American people/taxpayer EVER! The sub-prime and other loans that became, CDS/CDO and hedge-funds (leveraged to Vegas levels), covered by mortgage and default insurance and finally the ultimate swindle of all, when it went south, the Amercian taxpayer footed the entire bill in the form of BAIL-OUTS and other compensation from the government!!! It is the home-owners and taxpayers that are totally SCREWED!
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