Tiago Riberio, 25, paced the lobby of the Four Points by Sheraton hotel in Tampa Saturday night searching for a miracle. He had 24 hours to find someone who could lend him $30,000 to buy a foreclosed property in Fort Myers. “Ask me about a 35% APY investment opportunity” read the laminated sign hanging from his neck. Riberio and 160 others paid $250 a pop to attend an event put on by Tampa Bay .
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U.S. foreclosure activity is on the rise. See: Kevin O'Leary Says a Coming Real Estate Collapse Will Lead to 'Chaos' - Here's What You Need To KnowFind: 10 Affordable US Small Towns With a Great.