McMachen earned his fortune by selling yachts. Not surprisingly, the yacht industry hasn't fared very well since the economy took a nosedive. Instead of accepting the situation, McMachen had found a new way to make money. Clearly, a higher volume was going to be needed to make the venture as profitable as possible. When he saw an advertisement for a bank-owned property auction by Macomb County, he couldn't resist. The auction was to include 650 tax-foreclosed properties. McMachen was in, but he just had one question: Could he just buy all of them?
Read more at http://www.saveonmoney.org/2013/04/foreclosure-man.html

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Should you get an HELOC or home equity loan?

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This morning President Obama is expected to sign into law an extension of the popular first time homebuyers tax credit and extend it by allowing current homeowners to claim a $6500 credit. Details here.

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Maybe you really want to get away from it all on your vacation or retirement? One type of property you may not have looked into is buying a private island.

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