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FORECLOSURES R US


As a Real Estate Agent specializing in short sales and foreclosures, I know first hand how devastating this market can be to scores of hard working Americans.  As Realtors and as consumers, I think it's important to know the latest foreclosure developments.  Here are some of the lesser known stories, not typically covered by the major media.  Each title is a link that will take you to the original post: Pulling Back the Curtain: Exposing the 1% Behind the 2011 Big Bank Bonuses:The nation’s top six banks—Bank of America, JP Morgan Chase, Wells Fargo, Citigroup, Morgan Stanley and Goldman Sachs—paid out $144 BILLION in bonuses and compensation this past year, making 2011’s payday the second highest on record for these six firms. Just half of the banks’ bonus and compensation pools would be enough to write down the principal on all underwater mortgages in the country. (video provided at the bottom of this post)  ____
A Huge Housing Bargain -- but Not for You: The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie ... more

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