Dow Jones reports that hedge fund managers are looking to snatch up mortgage portfolios in New Orleans. This is in anticipation of a resurgence in property values aided by federal grants to the hurricane-stricken region.

Homeowners in the area, notably those financed by sub-prime loans, may be unable or unwilling to honor their mortgages. Hedge funds are getting ready to reap the rewards by buying these assets from regional banks or loan companies.

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