reconstruction loans – Piggington's Econo-Almanac

This topic has 10 replies, 3 voices, and was last updated 16 years, 11 months ago by VoZangre.

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December 27, 2007 at 10:06 AM #11334

tothjj
Participant

Merry Christmas everyone, I wanted to share an interesting conversation I had with a friend of mine last night;
My friend works for Wells Fargo in the loan division. I asked her how business was expecting to hear that she was an inch from being fired and the office closing. To my surprise, she said that she has never been busier and she just hired two people to work under her and help with the paperwork. I asked her what type of loans she was doing and she told me it was loans going to people who are buying foreclosed homes that have been completely trashed by the old homeowner.
She said that these homes need 5 to 6 figures in repairs from all types of things from stolen appliances to the old cement in the toilet to intentional flooding. She said that she would gladly cut her business in half just to have a day off. She has been doing this type of loan for many years but she cannot believe how busy she is. I know we all know this is happening, I just didn’t realize how much people suck. They don’t have the ability to pay for a loan they signed for so they destroy the property? That is pretty low.

December 27, 2007 at 10:18 PM #125395

rocket science
Participant

Reminds me of a post by gary_broker back in early December.

http://piggington.com/return_of_the_house_thrashers

Didn't realize it was so wide spread.

rs

December 27, 2007 at 10:18 PM #125549

rocket science
Participant

Reminds me of a post by gary_broker back in early December.

http://piggington.com/return_of_the_house_thrashers

Didn't realize it was so wide spread.

rs

December 27, 2007 at 10:18 PM #125566

rocket science
Participant

Reminds me of a post by gary_broker back in early December.

http://piggington.com/return_of_the_house_thrashers

Didn't realize it was so wide spread.

rs

December 27, 2007 at 10:18 PM #125627

rocket science
Participant

Reminds me of a post by gary_broker back in early December.

http://piggington.com/return_of_the_house_thrashers

Didn't realize it was so wide spread.

rs

December 27, 2007 at 10:18 PM #125653

rocket science
Participant

Reminds me of a post by gary_broker back in early December.

http://piggington.com/return_of_the_house_thrashers

Didn't realize it was so wide spread.

rs

December 27, 2007 at 11:41 PM #125510

VoZangre
Participant

Food Chain

Per a conversation with my politically interested, and far more aware than me, brother…

we were talking ’bout haves and have not’s and that old rigamarole… and the point he brought up, which is not particularly brilliant though it is cogent, was that most folks on the lower ends of the social strata do not have the ability to see things on the MACRO level… uninterested in changing the SYSTEM, just wanting to exchange places for one higher up… thus… glee at ” home ownership” and riotous destruction when that carrot is taken away…

indeed, the seemingly infinite capacity of homo sapiens to,

well, suck.

Voz

December 27, 2007 at 11:41 PM #125664

VoZangre
Participant

Food Chain

Per a conversation with my politically interested, and far more aware than me, brother…

we were talking ’bout haves and have not’s and that old rigamarole… and the point he brought up, which is not particularly brilliant though it is cogent, was that most folks on the lower ends of the social strata do not have the ability to see things on the MACRO level… uninterested in changing the SYSTEM, just wanting to exchange places for one higher up… thus… glee at ” home ownership” and riotous destruction when that carrot is taken away…

indeed, the seemingly infinite capacity of homo sapiens to,

well, suck.

Voz

December 27, 2007 at 11:41 PM #125681

VoZangre
Participant

Food Chain

Per a conversation with my politically interested, and far more aware than me, brother…

we were talking ’bout haves and have not’s and that old rigamarole… and the point he brought up, which is not particularly brilliant though it is cogent, was that most folks on the lower ends of the social strata do not have the ability to see things on the MACRO level… uninterested in changing the SYSTEM, just wanting to exchange places for one higher up… thus… glee at ” home ownership” and riotous destruction when that carrot is taken away…

indeed, the seemingly infinite capacity of homo sapiens to,

well, suck.

Voz

December 27, 2007 at 11:41 PM #125742

VoZangre
Participant

Food Chain

Per a conversation with my politically interested, and far more aware than me, brother…

we were talking ’bout haves and have not’s and that old rigamarole… and the point he brought up, which is not particularly brilliant though it is cogent, was that most folks on the lower ends of the social strata do not have the ability to see things on the MACRO level… uninterested in changing the SYSTEM, just wanting to exchange places for one higher up… thus… glee at ” home ownership” and riotous destruction when that carrot is taken away…

indeed, the seemingly infinite capacity of homo sapiens to,

well, suck.

Voz

December 27, 2007 at 11:41 PM #125769

VoZangre
Participant

Food Chain

Per a conversation with my politically interested, and far more aware than me, brother…

we were talking ’bout haves and have not’s and that old rigamarole… and the point he brought up, which is not particularly brilliant though it is cogent, was that most folks on the lower ends of the social strata do not have the ability to see things on the MACRO level… uninterested in changing the SYSTEM, just wanting to exchange places for one higher up… thus… glee at ” home ownership” and riotous destruction when that carrot is taken away…

indeed, the seemingly infinite capacity of homo sapiens to,

well, suck.

Voz
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