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What is also crazy about it is that the government is apparently not setting a high enough price for the liens. If they correctly priced the 'option' that the l
by aheilbut 13y ago
What is also crazy about it is that the government is apparently not setting a high enough price for the liens. If they correctly priced the 'option' that the lien wouldn't be paid and the buyer could foreclose, then it wouldn't be so attractive for the predatory buyers. So the government is allowing itself to get ripped off too.
- raverbashing 13y agoWell, theoretically the price of the lien should never be bigger than the price of the debt. The price should be (debt x odds of getting payed). These are usually bought in bulk But of course, with this "new method" it makes sense to be higher.
- fnordfnordfnord 13y agoWell, in Texas the liens are sold at auction. But yeah.
- muzz 13y agoThe article clearly states that the liens in DC are sold at auction.