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Real Estate & Property Law

: Housing Wire

Community Coalition Purchases 47 Homes in Foreclosure

By KELLY CURRAN

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The first large-scale purchase of defaulted mortgages by an alliance of U.S. nonprofit organizations was announced Wednesday. HANDS, Inc. said it has acquired the defaulted mortgages on 47 vacant homes in the greater Newark area, all of which are vacant and abandoned. HANDS purchased the mortgages from J.P. Morgan Chase (JPM: 27.44 +3.24%), as part of [...]

Full post as published by Housing Wire on April 01, 2009 (boomark / email).

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