So, they refuse to work with the original homeowners and kick them out.
Then they make excuses because the properties are vandalized and they can not sell them.
So they set up these bulk purchases and sell the homes that they could of let the families that were living in them stay.
And we SILL put up with this…
Houses for $200: Foreclosure bargain but not for you
Company snaps up homes you can’t for a steal.
On March 8, a San Diego company purchased a group of foreclosed Jacksonville homes from government-backed Fannie Mae, getting two for $200 each and another three for $1,000, $2,500 and $3,500.
Last fall, Dallas-based Harbour Portfolio VI purchased at least six foreclosed Jacksonville houses, also all on the same day. The price for two was as low as $2,400. One of the six, at 3046 Columbus Ave. on Jacksonville’s Northside, which sold for $14,700, stood vacant and wide open March 30. The knob on its front door had been jimmied off.
A couple had bought the home in 2007 for $98,000, but lost it to foreclosure three years later.
Read more at Jacksonville.com: http://jacksonville.com/business/2011-06-19/story/houses-200-foreclosure-bargain-not-you#ixzz1PpfrinZf