Blackstone Said to Get $2.1 Billion Loan for Home Purchases (Foreclosure)

[Fire Walk With Me]

via Carlos of Occupy Fights Foreclosures.

http://www.bloomberg.com/news/2013-03-13/blackstone-said-to-get-2-1-billion-bank-loan-for-home-purchases.html

Blackstone Group LP (BX), manager of the largest real estate private-equity fund, has expanded a credit line to buy single-family homes to $2.1 billion from $600 million, according to a person with knowledge of the deal.

Deutsche Bank AG (DBK) is leading the syndicate of banks, said the person, who asked not to be named because the loan is private. Other lenders include Bank of America Corp., Credit Suisse Group AG (CSGN), Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM)

Blackstone has invested $3.5 billion to buy 20,000 single- family rental homes since last year, making the New York-based company the largest investor of its type in the U.S. The firm is rushing to acquire properties as housing prices recover and as demand for rentals increases among people who can’t qualify for a mortgage or don’t want to own.

Blackstone spokesman Peter Rose and Deutsche Bank spokeswoman Renee Calabro declined to comment. The firm had been trying to increase the loan to $1.2 billion.

(More at the link.)

[Demeter]

1. How many bites off the housing apple can the Banksters get?

I have a feeling we are going to find out....

[Fire Walk With Me]

2. It is a mistake to look to them for any form of self-control regarding their profit motive.

By nature, the worst of them see everything as potential profit, and as such would wish to manipulate everything.

[djean111]

3. I got a flyer from them stuck in my front door a couple of weeks ago.

They were working through a local realtor, and bragged about being able to undercut first-time home buyers and buyers who needed mortgages because they offered quick cash.
Also bragged about connection with Mitt Romney,

My home is not in a foreclosure status; looks like they just want to buy up the neighborhood.
I threw the flyer out. I also get stuff in the mail offering cash for my home, about once every couple of weeks.

[sabrina 1]

4. Good for you. It looks like pushing people out of their homes many times illegally

is profitable. Nothing has changed, because no one was held accountable for the corruption that crashed the world's economy. So it will all happen again as they are all above the law. Unless we the people wake up and do something about it.