Banks Have Found a New Way to Strangle the American People

Major banks and hedge funds, looking for quick profits from homeowners who fall behind on property taxes, are investing millions in businesses that collect these debts, add extra fees, and threaten foreclosure to those who fail to pay.

They have purchased from local governments the right to collect delinquent taxes on hundreds of thousands of properties.

According to the Huffington Post:

“Some states allow the investors to tack on as much as 18 percent interest and a passel of legal fees and other charges. When property owners fail to make full payment, the investors can sue to foreclose -- in some states within as little as six months.”

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