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...ttled and a buyer’s money is sitting at the title company, the FDIC can take weeks for final signatures. Left in the FDIC’s hands, millions of houses will sit empty and drag down values of surrounding properties for years to come. Congress needs to get these FDIC properties into the hands of whatever banks can show a track record of liquidating foreclosed properties in 60 days or less. This isn’t rocket science. A well-priced home in the hands of a responsive seller will sell fast. Get these foreclosed home into the hands of a few efficient banks and this crisis will soon be over. The real problem lies with the system that created the problem. If the federal government would just get out of the way, the good banks would step up to solve the crisis, the bad banks would disappear and a stronger system would emerge to ensure that this sad history never repeated itself.
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