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Banks to allow local groups to buy foreclosures

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Real Estate Agent with Re/Max 100

Banks to allow local groups to buy foreclosures

http://www.comcast.net/articles/finance/20100901/US.Foreclosed.Homes/

Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.

 

This should be interested. I'd like to see the end results..

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Regards,  

Indera Coggins(R)
Certified Distressed Property Expert
301-481-0787 (cell)
410-423-1753 (fax)
inderac@gmail.com
www.inderacoggins.com 

Home Loan Search.Online
Home Loan Search Online - Newnan, GA

HUD has been doing this for a while. It's good to know the banks are following HUD's lead.

Sep 02, 2010 02:00 AM
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

This would be a very nice way for nonprofits to make profits in this market.

Sep 02, 2010 02:01 AM