Big investors have been snapping up foreclosed homes and turning them into rentals. Now some of those investors are hoping to capitalize on their distressed buys -- and share the spoils with the general public -- by going public.
Starting today, checks are on the way to victims of wrongful foreclosures as part of a $3.6 billion settlement between banks and federal regulators. But for most of those borrowers, it won’t exactly be Christmas in April.
The housing crash not only touched off a wave of foreclosures, it torpedoed property values and the taxes cities and counties collect off them. But some localities are fighting back in an effort to reverse their budget shortfalls.