Wall Street quietly creates a new way to profit from homeowner distress

By Fred Schulte

Gladys Walker, a retiree on Social Security, owed less than $1,000 in overdue property taxes on her modest Florida home. So why did Bank of

Excerpts from this story referencing "Pompano Beach":

"… en Florida retiree Gladys Walker fell behind in paying taxes on her modest Pompano Beach home, she had no idea one of America’s biggest banks and a major Wall St …"

"… cent penalty.On May 25, just after 10 a.m., the debt on Walker’s $62,000 Pompano Beach home came up for sale. It promptly drew 8,031 electronic bids, auction rec …"

Wall Street quietly creates a new way to profit from homeowner distress

By Fred Schulte

Large bank, hedge fund bundle small tax debts into private investments

Excerpts from this story referencing "Pompano Beach":

"… en Florida retiree Gladys Walker fell behind in paying taxes on her modest Pompano Beach home, she had no idea one of America’s biggest banks and a major Wall St …"

"… cent penalty.On May 25, just after 10 a.m., the debt on Walker’s $62,000 Pompano Beach home came up for sale. It promptly drew 8,031 electronic bids, auction rec …"