2009-03-10 — minyanville.com
" The hot ticket in New York on Sunday wasn’t for the game between the Knicks and Nets. Instead, people vied for entry to the highly anticipated foreclosure sale at the Jacob K. Javits Convention Center in midtown. About 1,000 people attended the auction; even more bid online. The event was a dystopian circus, made up of fast-talking auctioneers, jubilant buyers and angry protestors. "
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kegman83 at 23:28 2009-03-11 said:
I dont know how many times I have to say it to people. REDC is not an auction company, and in fact, they are one of the bigger scams out there. They simply sell REOs at a faster pace. There is a reserve to be met, you have to finance with them, and most of the time the houses have passed hands 3 or 4 times before hand. Yes they give you clean title, but only with a buyers premium attached. They are making a killing only because people are too stupid to go to propper auctions themselves. Permalinkadd a comment | go to forum thread
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