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Sunday, September 25, 2011

Landlord Uncle Sam wants to sell foreclosures

An empty mail box is seen at the front door of a foreclosed house in Miami Gardens, Fla. With even more homes moving toward default, the government is looking for ways to unload them without swamping the already depressed real estate market.Washington is sitting on nearly a third of the nation?s 800,000 repossessed houses, the result of record numbers of people defaulting on government-backed mortgages.




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