The Upside of Foreclosure
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It’s 3 p.m., time for a makeshift happy hour in the parking lot of Value Place, an extended-stay motel here in town and a haven for those who have been foreclosed upon. No background check is required; no credit card needed. It’s the housing equivalent of a throwaway cellphone. “And that,” says Elliot Abrams, Room 318, “is why it’s the bomb.”