Comments on: Vulture Capital Hits Home: How HUD Is Helping Wall Street and Hurting Our Communities

By: dc

dc — Fri, 12 Sep 2014 06:00:24 +0000

You must know this FACT the National Association Of Realtors-NAR as you said is very deceptive and very organized and has a very Strict code of ethics but it only applies to its members,you and me and the general public we do not apply.They are 1/2 click above satan himself they want your home and will do what they must to get it.They will never rat another member out and will fight like a mo…r f…er for one of theirs.This is no joke I was witness to a friends home sale and she was not versed so they railroaded her and escrow and title finished her off.They are one of the most powerful lobbying bunch in DC,so you combine them with the banks and the trust and title clearing companies and the fact the the cities,counties have zero incentive when these crooks [realtors,Brokers,Agents]will scoop up properties using fictitious business’s,DBA’s,and fictitious names so to insulate each layer as they learned from lenders.

they will transfer so transfer tax for the county,then tear it down no permit needed for these fools,rebuild,re asses big prop tax increase for the counties and more transfer tax and thats why unless we start taking to the streets and let them know it will only get worse.

The recorder records whatever they want so when you look up your agent/broker and you dont see them they are working with a fictitious name or biz entity and in California they are encouraged to do this and give tips on the ways to expedite your dba.I shit you not my friend still doesnt know who the real buyer is and their loan still shows as open.Spread the word.

By: Mystify

Mystify — Fri, 12 Sep 2014 00:21:07 +0000

Right on bobbi, I totally agree with voting incumbents out! Let’s start with rick scott florid duh governor, he has done nothing to help fl homeowners in floreclosure, he thinks we are all scum bags. Well I am definitely going to vote him out!

By: BOBBI SWANN

BOBBI SWANN — Wed, 10 Sep 2014 19:11:38 +0000

Very well put, Somdaysarelikethis! There is one beam of light, though. The NAR (National Assn. of Realtors) reported this past week that cash sales are wayyyy down, at least here in Florida. That is definitely an indication that the so-called cash flow of free monies available to the REITS have come to a dead end street. However, if the gov’t continues with more and more of these insane programs for so-call ‘revitalization’ it could spin right back up again. Best thing to do is to vote every incumbent out of every office, no matter what the party line! We gotta get those old cronies out of office who have made it their entire career out of floating from one political position to another and reaping nothing but greed for themselves!

By: somedaysarelikethis

somedaysarelikethis — Wed, 10 Sep 2014 14:40:51 +0000

Would you believe we could hit a second bubble burst so soon? Look for it! In Memphis multi-parcel purchases owned by investment banks are parceled out to property management companies who then renovate and market internationally as package sales to small investors, mainly for cash. Investors in Australia, Canada, China, even in California and Florida can’t believe they can buy a renovated house for $100,000 and rent it for $1000per month and someone else does all the work. Oh that it would be true! These are sold sight unseen like time shares as investments to investors who are led to believe a positive cash flow without hands on is a great way to invest in real estate. Nothing but turnkey operations. If sold cash or with hard money, no appraisals or bank is needed so prices are rising from their previous low. In some areas it has led to increased rents but in other they sit vacant. Tending to be in neighborhoods that were sold at the height of the bubble on suspect loans that then defaulted. Owner occupants cannot get credit to buy these houses and often they would not appraise high enough if they could. Cash flow erodes when renters default, can’t pay the high rents and houses must be remodeled again to re-rent, plus property management fees and high vacancies. When this bubble bursts we will still have derelict housing but in the meantime the investment banks are recouping their losses and riding themselves of the shadow inventory by passing them off to small investors who are buying a pig in a poke.