HOAs foreclose on delinquent homeowners
... and you'll be surprised who's snapping some of these homes up.
From Florida, one of the foreclosure capitals of America, a really interesting story at TampaBay.com about Homeowner Associations that are foreclosing on delinquent homeowners and some investors who are profiting handsomely.
“In just eight months, Barry Haught and his business associates have acquired 71 properties in Hillsborough County with a market value of $8.2 million. Total purchase price according to public records: just over $220,000.”
You'll enjoy reading the full story.
Hat Tip to Barry Ritholtz, The Big Picture