[Liz]

Yeah—— ACORN INSTITUTE is how they’re gonna get to collect 4% on every mortgage (written into the rescue bill).

[Calpernia]

Somehow more. It is a bit convoluted for me to follow fully; but, [in my state] they are buying he foreclosures, then selling them to the state of NJ.

Then the state of NJ rents [or leases?] them back to the owner (that was foreclosed).

So, the non profit (ACORN) isn't stuck holding the mortgage; they flip it to the state.

But, how is the state getting monies to hold the property?

THAT may be where another loop hole was. There was something in this bailout where you earned monies from it per foreclosure held.

So if ACORN has them first, then the state has them; they may be getting paid twice on the same property.