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FakeNoose

(37,342 posts)
2. That's possible, but it's also possible that they're being treated as hardship cases
Wed Nov 29, 2023, 12:33 PM
Nov 2023

The examples given in the OP link, such as the family with the burned-down house. They were putting all their efforts and resources into rebuilding the house, but that takes time. Only a few months after the fire, the vultures swooped in and had the property declared a public nuisance or whatever, and bought it for pennies on the dollar. The property was worth way more than that, but the family didn't have extra cash to hire a lawyer and fight it.

Medical bankruptcies are causing some families to either abandon property, or sell it cheaply and quickly. This article is about the vultures who swoop in and take advantage of distressed situations and make a big profit from it. Often it's the blighted areas of the city where the bargains can be found. That doesn't make it right.

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