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US Senate Moves to Block Bids On Foreclosures

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HudAuctionwatch, a Hud foreclosure site, has an interesting bit regarding the future of hud auctions.

According to the article:

U.S. Senator Charles Schumer is seeking to stop HUD foreclosure home sales to investors. He says that the investor “loophole” is causing communities such as Rochester to deteriorate.

Should investors be blocked from HUD bidding, housing prices would likely increase as investors moved to other low priced inventory.  This may benefit those with equity build from bi weekly mortgage payments.

February 11, 2008 | Filed Under Bi Weekly Mortgage 

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