Obama to auction foreclosures in bulk to large investors

[Palmer Wilkins]

I'm not necessarily against Wall Street; however, it seems that the Obama Administration is interested in having large investment funds buy at auction and in bulk Fannie Mae, Freddie Mac and FHA foreclosures. You can read about it here:

http://www.cnbc.com/id/45063559/comid/4#comments_top

I'm interested in what others think about the potential plan and if others have information on it.

A plan like this may be unpalatable to larger funds buying properties in bulk considering the challenge of managing, renting and repairing the deferred maintenance of these properties.

Nonetheless, in my opinion, this potentially will decrease opportunities for smaller investors to invest in the foreclosure market.