US: Recovery from worst housing slump since 1930s comes with

[Green_Bear]

The way out of the worst U.S. housing slump since the 1930s goes through Angel Gutierrez.

Gutierrez buys bad mortgages a dozen at a time for a fraction of their face value from lenders overwhelmed by the highest number of defaults in 23 years. When he goes door to door to negotiate lower payments for homeowners or pay them to move so he can sell the house, he’s speeding up the recovery by establishing a price for the homes and flushing out the least reliable borrowers.

``You buy the mortgage for pennies on the dollar, carry the big stick, tell the homeowner how it’s going to be, then double your money very easily,‘’ Gutierrez said. >>>>

Recovery from worst housing slump since 1930s comes with Angel
independent.ie/business/worl … 76142.html

[whizzbang]

Good times for hired goons.

[provost]

scary stuff

[watch_wait]

@whizzbang

Good times for hired goons.

This may be a new growth industry in ireland, all part of our new “Service Sector”.