Uncle Sam prepares to sell out the little guy once again; Real Estate fire sale for the rich ONLY!

reply to post by stanguilles7


Back in the '90s there were ads for regular people to buy HUD houses. There were pages and pages of these cheap houses in the newspaper. My late husband and I bought one. Where have all those ads for "regular" people gone?

I also went to the HUD website out of curiosity and yes, they're still there, to an extent. At the very least, they are making it harder than ever too buy a HUD house. Also, as one poster said, your credit has to be very good to qualify.

In case you're curious I don't have that house anymore. When my husband's health got seriously bad, we had to have a short sale and then he died. But, long-story-short, average people used to be encouraged to buy these properties and I don't see this any more.

Just goes to show you that the American dream is alive and well, if you can afford it.

Foreign investors? Is that what this is about?

Originally posted by Indigo5

Originally posted by tovenar

Free enterprise would mean auctioning these properties off to the highest bidder in a public, open auction.

Again...I have to ask given all the "Buy Foreclosed Homes" stuff I see...

Originally posted by Indigo5


When homes are foreclosed on...doesn't the public get a chance at those homes at auction before the bank/gov takes final ownership?

edit on 15-6-2012 by Indigo5 because: (no reason given)

edit on 15-6-2012 by Indigo5 because: (no reason given)

Anyone can bid at a foreclosure sale, if you have the funds to pay the amount you bid for the property. The highest bid wins the proeprty. Since the property is "under water", i.e. the amount owed to the foreclosing bank is higher than the value of the property, and because at the foreclosure sale the bank sets the minimum bid price which can be the full amount owed on the mortgage loan plus foreclosure costs and fees, or some lesser amount in the bank's discretion, the bank will always win at the foreclosure auction if it wants the property unless someone is willing to bid and can pay more than the property is worth.

So, yes, the public have a chance to buy those homes. You can buy any home you want at a foreclosure sale by making the highest bid, if you have the money to make good on your bid. But if you can only get the property by bidding more than the home is worth, it's obviously a losing proposition for you of little financial means.

Not sure about this. 1 dollar house or 1 dollar down? You wouldn't want to live in that neighborhood anyway. Gangs run the streets, gunfire erupts down the block. All the utilities in the area are off. The wiring and plumbing pipe and fixtures have all long been torn out of the walls. The homeless and their drug dealing whore monging buddies have been sleeping there building fires on the floor in rooms and filled the place with three feet of garbage. The windows are broken out so entry and exit can be swiftly made in case of trouble.

My brother just bought a foreclosed house in a good neighborhood. The bank offered price was higher than the appraised value, plus he had to sign away certain rights to the bank about the former owners. In case of lawsuits or sweeping legislation to reoccupy the house the bank that foreclosed is not liable for any restitution or damage. Even though my brother still owes the bank.

All my life whenever a chunk of land becomes available the developers buy it and plant apartment complexes there to maximize profits. First they bulldoze everything though. If big tracks of these dilapidated houses are gonna be snagged up, then guess what is gonna happen to the individual units on there?

In the next year, my duel citizen Australian/American wife and I are moving to Australia. I can’t wait to get out of this country! I have protested and demonstrated on numerous occasions about what our Gov. is doing to Americans. I have even been put in jail for voicing my concerns. You know, I don’t really know who do blame more, the politicians who are corrupt or Americans who are allowing it to happen.

When I do leave, at least I can say I wasn’t one of those people who sat behind a computer screen b!tching about it! I did my best to make the difference. Maybe one day when Americans decide to grow a pair, I’ll come back to join to fight. But until then, I wish my fellow American the best…

And one more thing, Americans really need to get their priorities straight. Hanging out on Wall Street isn’t going to make the difference. People need to go after the Federal Reserve, the White House, and Congress. A couple million Americans storming congress and hanging these people where they stand will really speak numbers on how pizzed off Americans are. Forcing these people to make change seems like the only alternative. Some might say that is the wrong way to go, or that Americans are better than that, but do you think screaming “impeach” is going to make any difference at all? Laws don’t apply to any of these people, and they know it. As for voting these people out of office, good luck with that. TPTB make sure who gets to stay and who does not.

If there’s someone with an alternative in dealing with these corrupt idiots, I would really love to hear it...

Any ideas...

reply to post by stanguilles7




The program is only available in 4 states leaving out most of the country. None of the homes I saw were listed for a $1.

there were NO posts relating to the recent (june-july 2012) supposed growth in the housing market
where a lot of homes (on the market) are no longer put on the books as losers


Lets get realistic here... the 'banks';, mortgage providers',, etc
Are permittedby the FMOC to carry two, distinct set of books'

it is my opinion that the sudden...breath of life... reported in the housing industry report....

i suggest that this whole farce is nothing more than stasticical manipulations by the same Banks/Lenders/MBS holders & traders to put a favorable game face on the depressed (by all factual stats) housing resales or refinancing numbers...(a page book from the government's official BLS way of managing the fake economy)

heck--- if the financial houses can legally seize your private & supposed segregated account funds
(via rehypotheciation)...its not a big stretch of the imagination that the BH (black hole) housing sector stats can be conjured to look as-if a rebound is taking place (when its going down the Tubes even faster!)


i purposely bury post...(provacitive, charged posts) in older threads to keep the thought-police from targeting me..kindly play along as 'stars' only alert the provocateurs & agents of the system

Originally posted by Rocketman7
Foreign investors? Is that what this is about?

One word "yep"

Before the banks would do whats called a pool sale. That is when a investor could purchase 2,3,4, up to 6 homes at a time but these were the less desirable and ran down homes. This is a hole other ball of wax, these sales are going to be in the thousands of homes at a time. The purchaser will have to show he or them have the capital to cover the cost with out loan support. I dont know of many many folks in the US that have that kind of funds.

IMHO this may go back to the rumor of clinton promising the Chinese land to cover our owed debt just to put a spin on it Pinnies on the dollar and a boatload of land.