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Accidentally the banks got caught up in their own executives/controlling shareholders hyper greed. Foreclosure is probably an absolute loss since none of these homes are worth as much as the homeowner owes. OK let me reel in my once more. So that’s evidenced by the fact that guys from the Clinton Bush administrations have usually been permited to purchase failed banks with ok money guaranteed to create massive returns by US Government. REO and subtracting this sale price from the note face value creates an absolute loss and is usually paid by the FDIC or… Read Article →