So everyone in the world knows that there was fraud in making mortgages and taking homes... Now the government and Banks own about 60- 65% of the housing market - maybe more. They are trickling homes onto the market but it is difficult to bu for many that have been victims of the FRAUD.. (robo signers is just a fraction of problem with foreclosures).
NOw they want to GIVE away the homes (basically) to the investors. Remember each state has received MILLIONS of dollars from the government with more on the conveyor belt ready to be doled out as the banks settle up with AG's/ Feds and INvestors. THE HOMEOWNERS got screwed and now are going to get screwed again.
Right now many homes ARE already being bundled up and sent to investors for $1,000,000.00. Then they are rented out to people or sold for huge markups. Check out HUD they have $1.00 program that is supposed to provided low cost housing to the poor. Have you seen a house for a $1.00 yet? Only non profits can buy them (or local government agencies). It IS a nightmare for those wanting to buy.
A Huge Housing Bargain -- but Not for You - TheStreet: "On Wednesday, the Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the U.S. Treasury Department issued a Request for Information (RFI) concerning the disposition of the inventory of foreclosed homes owned by the federal government.
An RFI is ostensibly a way for the federal government to get input from the private sector on how to accomplish the goals laid out in the request. But that's really just a facade, as the RFI was structured by the investors to begin with.
In reality, the RFI is a way for the members of Congress to find out if they can get away with bulk-selling these homes to private companies without incurring the wrath of their constituents, taxpayers and former owners of the properties.
Assuming taxpayers don't push back, the next step will be to issue a Request for Proposals (RFP). The RFP will be the bid and plan for these homes by investors."