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Vulture Funds That Prey On Hard Up Homeowners

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Once they own the mortgages, they have the power to set interest rates

Don't think the new reign holders will lower rates out of charity.

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Secretive investors and “vulture funds†have been accused of profiting from other people’s misery by buying up residential mortgages on the cheap in the hope of making a quick profit.

Wish I could get paid for dramatising the mundane.

How's about this:

Investors intent on making a profit buy assets from investors intent on making a loss.

Doesn't generate outrage.

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As far as I can tell, this is just the market doing its stuff. The problem with the boom was the market wasn't doing its stuff. I have no sympathy for "hard presses home-owners" if they are hard pressed now with our near ZIRP what are they going to do when rates go up?

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mike the problem is these company's are on purpose hiking the rates so people do default and they then make more money out of the debtor....this is not the market working it is outright fraud.....have a read of these peoples stories with sub prime lenders putting up rates and adding charges so they can get the customer to default...

http://www.consumeractiongroup.co.uk/forum...ly-getting.html

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I read that thread until my head started hurting, but I never got as far as what the actual problem was or what the actual wrongdoing was supposed to be.

Is it that when they came off the fixed rates they went onto a higher rate?

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