General Discussion

KoKo

(84,711 posts)

9. As your article mentions:Hedge Fund "Blackstone" is into this. Buying up houses all over country

Fri Mar 14, 2014, 01:53 PM

Mar 2014

and then using them as rentals. Reports are that they are not maintaining the houses and there are complaints in various states about it. But, they get away with it. They are speculating that the houses will sell for more in a few years when they kick the renters out.
In the meantime they can influence the the communities they own the companies with regulations and such. (at least that's what I've read on business sites is their ultimate interest)

And billionaire investor Warren Buffett has bought up Prime Real Estate Agencies in many states that were formerly private. Why would he want to be going into the Real Estate Business? Not his usual line of investing to want to be a Real Estate Broker...but there it is. He bought out a long time family owned agency in my city. They only dealt in high end listings. That seems to be his interest.

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Wells Fargo caught with "how to defraud homeowners" manual. [View all] dixiegrrrrl Mar 2014 OP

This is the acid test of Obama Justice department Kelvin Mace Mar 2014 #1

And simply taking a cut of the profits doesn't count. OnyxCollie Mar 2014 #2

Take all the profits, and more. Then jail a few executives. Scuba Mar 2014 #5

I agree about the ... 1StrongBlackMan Mar 2014 #22

"Yeah, a buffer. The family had a lot of buffers." - Willi Cicci , Corleone Family "button man" Hassin Bin Sober Mar 2014 #29

ABout the 443rd time I have said this - there are documented cases of where truedelphi Mar 2014 #69

Two degrees? Scuba Mar 2014 #77

LOL. For those in the know, it's truedelphi Mar 2014 #92

I tend NOT to follow Sixty Minutes; but ... 1StrongBlackMan Mar 2014 #78

I have to check my HD for the sourcing - which is a Rolling Stone's article. truedelphi Mar 2014 #88

Matt Taibbi's RS article and the link - truedelphi Mar 2014 #89

Taibbi has left RS...he can be found here: dixiegrrrrl Mar 2014 #94

Very good to know that. truedelphi Mar 2014 #96

Agree, they guys know how to play the game. It's all a calculated risk for them, jail RKP5637 Mar 2014 #28

Actually ... 1StrongBlackMan Mar 2014 #44

Yes, actually, that would certainly be a better solution for those with insatiable greed! n/t RKP5637 Mar 2014 #47

Having worked with criminals ... 1StrongBlackMan Mar 2014 #49

So, if we made them give up their money dixiegrrrrl Mar 2014 #61

Seems to me, RICO laws where made for this situation tavalon Mar 2014 #66

RICO laws do apply, and had one truedelphi Mar 2014 #93

Actually no. Enthusiast Mar 2014 #72

okay. 1StrongBlackMan Mar 2014 #79

Asset Forfeiture of Wells Fargo Half-Century Man Mar 2014 #56

Unfortunately, you KNOW what's going to happen mindwalker_i Mar 2014 #3

I'll take "Null and Void" for $200 please Alec. LibertyLover Mar 2014 #23

Nope. That is correct. closeupready Mar 2014 #63

Remember when monopolies were illegal? dotymed Mar 2014 #80

We won't even have the full employment that East Germany had. truedelphi Mar 2014 #97

Now hold on just a damned minute!!! bvar22 Mar 2014 #57

After allowing the previous administration's war criminals amnesty, fraud is small potatoes. Enthusiast Mar 2014 #71

Another look at the issue: dixiegrrrrl Mar 2014 #4

As your article mentions:Hedge Fund "Blackstone" is into this. Buying up houses all over country KoKo Mar 2014 #9

See the update to the OP dixiegrrrrl Mar 2014 #13

I saw a Berkshire-Hathawasy Real Estate sign in my neighborhood ... aggiesal Mar 2014 #18

Kick.... daleanime Mar 2014 #6

AND...Did you See This...Both Posted today: KoKo Mar 2014 #7

Thank you!!!!! dixiegrrrrl Mar 2014 #8

Congress wants to close down Fannie & Freddie...I wonder if it's because of the KoKo Mar 2014 #16

DU member Ms. Smiler is suing for fraud, to save her house. dixiegrrrrl Mar 2014 #39

I saw that post...seemed like helpful information the poster had....Good Stuff.. KoKo Mar 2014 #43

Wait, what? Moosepoop Mar 2014 #33

clipping here: dixiegrrrrl Mar 2014 #40

Thanks for the info!! Moosepoop Mar 2014 #59

a handy tip: dixiegrrrrl Mar 2014 #60

Rotten...criminal...morally corrupt...and on and on. SoapBox Mar 2014 #10

Recommend jsr Mar 2014 #11

Throw away the fucking key malaise Mar 2014 #12

This used to be my bank. deafskeptic Mar 2014 #14

Oh, do I ever hate those motherfuckers. Fuddnik Mar 2014 #15

them buying your insurance is illegal. dixiegrrrrl Mar 2014 #21

I tried to join a class action suit two years ago, and for some reason was turned down. Fuddnik Mar 2014 #75

If you have a twitter account, feel free to join in on piling on truedelphi Mar 2014 #70

NOW can we prosecute??? cui bono Mar 2014 #17

We always COULD... FiveGoodMen Mar 2014 #51

HUGE K & R !!! - THANK YOU !!! WillyT Mar 2014 #19

I owned a house that was foreclosed on by Wells Fargo about 2012ish Victor_c3 Mar 2014 #20

You can compare your original loan papers. dixiegrrrrl Mar 2014 #24

Thanks for that Victor_c3 Mar 2014 #26

Did they foreclose for a valid reason? dixiegrrrrl Mar 2014 #32

dixiegrrrrl, I greatly value your contribution to DU, you are well informed and ms.smiler Mar 2014 #54

Point taken. dixiegrrrrl Mar 2014 #65

dixiegrrrrl, goodness, do I have a long way to go to catch up to the number of points made by you. ms.smiler Mar 2014 #85

awwwwwwww........thank you for your kind words. dixiegrrrrl Mar 2014 #95

dixiegrrrrl, I'm sure you'll remember this Salon report. ms.smiler Mar 2014 #99

Victor_c3, was it a MERS mortgage? ms.smiler Mar 2014 #30

I'm going to have to look up some information before I can answer any of these questions Victor_c3 Mar 2014 #74

Wells Fargo has a Manual and Fannie Mae has a Servicing Guide ms.smiler Mar 2014 #25

Sadly, here in my county, MERS is still foreclosing dixiegrrrrl Mar 2014 #34

the Fannie Mae gide pdf link is now blank. dixiegrrrrl Mar 2014 #36

It's archived at archive.org bananas Mar 2014 #46

Yeehaw! dixiegrrrrl Mar 2014 #48

And let me make a one word prediction as to what will happen to them... Javaman Mar 2014 #27

Well, they have been fined a lot of money, in many instances dixiegrrrrl Mar 2014 #37

fine smine. they are allowed back in the gulf to drill again. Javaman Mar 2014 #76

Anybody that has had to Madmiddle Mar 2014 #31

Wells Fargo -- Sick Bastards bondwooley Mar 2014 #35

he needs a lawyer so he can sue for damages. dixiegrrrrl Mar 2014 #38

I'd love to see Countrywide's manual on how to sell liar loans! ErikJ Mar 2014 #41

What is interesting is the Countrywide is still being sued. dixiegrrrrl Mar 2014 #42

BofA bought them. LeftyMom Mar 2014 #52

And the banksters keep rolling on. Rex Mar 2014 #45

Finally, proof. idendoit Mar 2014 #50

Don't care AnalystInParadise Mar 2014 #53

AnalystInParadise, rather than a strategic default, may I suggest a strategic Quiet Title? ms.smiler Mar 2014 #55

This is straight out of a John Grisham novel DFW Mar 2014 #58

The worst part is, no one's surprised! n/t Yo_Mama Mar 2014 #62

+1 redqueen Mar 2014 #86

No the worst part is, nothing is going to change from this revelation. Rex Mar 2014 #87

Even guns with the barrel still smoking ain't enough to wake some people up. DeSwiss Mar 2014 #64

Last year, when we had the liberal push to go to Credit Unions, tavalon Mar 2014 #67

How is this any different from MERS? Crash2Parties Mar 2014 #68

Crash2Parties, I�m delighted to welcome such a well informed person to DU. ms.smiler Mar 2014 #73

This appears to be their craptastic way of covering up the MERS mess. reformist2 Mar 2014 #91

Why those dirty motherfuckers! JNelson6563 Mar 2014 #81

Shhhh, listen.... hear that sound? That's the sound of Eric Holder's... pragmatic_dem Mar 2014 #82

And, justice Dept. is too busy spying on the meta-habits of American people to care... pragmatic_dem Mar 2014 #84

Jail doesn't work for bankers. Torches and Pitchforks. sarcasmo Mar 2014 #83

Paperwork? Paperwork is only for the little people!! reformist2 Mar 2014 #90

How are they not a ''Continuing Criminal Enterprise''? Octafish Mar 2014 #98

Why are these people not in jail? Why? No really, why? AllyCat Mar 2014 #100

Because the Gov't is a wholly owned subsidiary of the banks,apparently. dixiegrrrrl Mar 2014 #101