Washington DC
Treasury Secretary Paulson announces that banks will be on their own in disposing of REO's and short sales. The Government will not use TARP money to buy bad mortgage loans made by banks. It is estimated at over 1.6 million foreclosures will occur this year and 1.9 million is projected for 2009. This is great news for small private investors wanting to take advantage of flipping short sale and REO's
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