FDIC Owns $1.8 Billion In Real Estate

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Real Estate Agent with JustListedKnoxville.com / Signature Homes

In early 2008, work on the project slowed, Ms. Jeffries recalls. People started asking for their money back, "and the builders weren't giving it to them," she says. In her office, located in the basement of a model home, she started receiving calls from disgruntled subcontractors complaining they hadn't been paid. She says one unhappy supplier repossessed Quantum's construction trailer, which still contained file cabinets with records of potential buyers.

http://online.wsj.com/article/SB125840904423151209.html

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