Auction firms thrive on Puget Sound housing woes | Puget Sound Business Journal

Foreclosures are bringing good times to companies that profit from the housing market’s pain.

Auction firms and private lenders are thriving on the high level of foreclosures in the nation, filling a void left by banks that still are struggling to regain their health.

“Our company offers financing to people who are trying to buy houses at foreclosure auctions,” said David Dammarell, CEO of Bellevue-based Liberty Capital. “Banks can’t do what we do for a number of reasons … so our company is filling a market need.”

Click here for the full story… Auction firms thrive on Puget Sound housing woes | Puget Sound Business Journal.

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