Tad Friend, Letter from California, "Cash for Keys"

Tad Friend, Letter from California,

Letter from California about Leo Nordine, who sells foreclosed houses in Los Angeles. In 2006, Leo Nordine sold seventy-five houses for the banks; in 2008, he sold two hundred and eighty-two. This year he expects to sell a house a day. Nordine, forty-six, is one of Los Angeles’s leading R.E.O. brokers (bank-derived shorthand for "other real estate owned").

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