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GTIS expects to buy homes in bulk from banks, Fannie Mae and Freddie Mac, Shapiro said. Properties will also be bought individually at courthouse auctions and through short sales, when lenders agree to sell for less than the balance of the mortgage, he said. GTIS will start buying in cities in Nevada, Arizona and California -- the states with the three highest foreclosure rates, according to RealtyTrac Inc. -- and Florida, which RealtyTrac ranked seventh in December, Shapiro said.
Cerberus Capital Management LP, Deutsche Bank AG, Fortress Investment Group LLC (FIG), Starwood Capital Group LLC, TCW Group Inc. and UBS AG are among the financial firms that submitted responses to the federal request for information in September, according to a list obtained by Bloomberg through a Freedom of Information Act filing.
Originally posted by theubermensch
The future is stealth communism
Controlled by Banksters.
Originally posted by jtma508
Originally posted by theubermensch
The future is stealth communism
Controlled by Banksters.
Communism? This is the opposite of Communism. This is feudalism. We'll have the 'landed gentry' and the rest of us will be peasant renters. Just another case of consolidating the wealth of the nation into the top 1%. No surpise here. It will continue until the whole thing implodes.