<br />Losing Your Dream Home - Josh Barbanel

[mpine 0]

Was reading this interesting article on the New York Times (Subscription required) this morning and thought I would share it.

 

Mike

:ph34r:

[MichaelC 160]

Interesting article, indeed. This BS is all too commonplace these days. It never ceases to amaze me that so many can be so foolish when it comes to believing these scam artists.

You only have to read "In a court filing, Mr. Fayez-Olabi said that on the day of the scheduled mortgage closing, he was told there was a problem with his credit, and instead of a simple closing on a refinancing, Mr. Mayfield had agreed to "hold his mortgage" for one year.

He said a lawyer at the closing was introduced to him by the mortgage broker and by Mr. Mayfield as his attorney. The attorney asked him to fill out blank documents because she was in a hurry. "Just sign the papers and don't worry about anything," she told him, according to his statement.", to know this is being run by a ring of con men.

It's an uphill battle for these former homeowners, but I hope they get their day in court.

[vmoney 0]

This type of stuff really irritates me, because it puts all investors, particularly rehabbers in a bad light and makes people suspicious of us. It's only a matter of time before some lawmaker will introduce some bill to make our lives harder because of these idiots.

 

It's really too bad. Why can't people just have integrity and learn to make an honest buck.

 

-V

[mpine 0]

This type of stuff really irritates me, because it puts all investors, particularly rehabbers in a bad light and makes people suspicious of us.  It's only a matter of time before some lawmaker will introduce some bill to make our lives harder because of these idiots. 

 

It's really too bad.  Why can't people just have integrity and learn to make an honest buck. 

 

-V

<{POST_SNAPBACK}>

 

I dunno, I see this as a sort of opportunity.

 

Instead of always offering top dollar, this can be the leverage to let people have houses at a fair price with terms instead of a mortgage.

 

While all the collusion is bad, it is natural, everyone is told to "build a team" and that is how I think these things start, well intentioned people finding out they can make better money with only a little wrong doing.

 

Hey, if this was a Bush business, they would sell to Century 21, empty all the bank accounts, and ask daddy to get him a baseball team

 

Mike

:ph34r:

[-Tony- 0]

Hey mike,

I have to hear politics at work all day all the time so, could you please refrane. I still love ya in a true manly heterosexual type of way.

 

I go to a few other boards and it just gets nastly. Thats why I am asking nicely

 

Thanks Tony

 

 

 

 

 

Note: Miss spelled words are not the fault of the poster, but that of the owner/operator of this board

[mpine 0]

Hey mike,

I have to hear politics at work all day all the time so, could you please refrane.  I still love ya in a true manly heterosexual type of way.

 

I go to a few other boards and it just gets nastly.  Thats why I am asking nicely

 

Thanks Tony

 

 

 

 

 

Note:  Miss spelled words are not the fault of the poster, but that of the owner/operator of this board

<{POST_SNAPBACK}>

 

no problem Tony, i felt a need to take a Jab.. It is actually funny, on another board i posted a posative bush piece, but had some disagreements with policy and got called "UNPATRIOTIC" so I vented in a little line in my post, but I will refrain ;-)

 

Mike

[-Tony- 0]

I am back on pain killers so some of the post I post may show it. Thanks man