- This topic has 40 replies, 6 voices, and was last updated 14 years, 9 months ago by
sdrealtor.
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July 22, 2009 at 10:18 AM #435803July 22, 2009 at 10:24 AM #435041
SK in CV
ParticipantI know what to do!!
Since buying real estate got him into this mess, the obvious solution is to borrow MORE money and buy MORE real estate. That has to work!! Cuz you know, real estate is NEVER a bad investment. All the guys in my real estate office tell me so.
(One factoid that’s missing is which property is the security for the HELOC? Doesn’t seem any of them have equity, I wouldn’t be surprised if when he tries to stupidly borrow more money, he’s told that well is empty. If it’s on mom’s house, why would he do that to mom? Put her upside down property even MORE upside down? Bad boy!!)
On a more serious note, that scheme put together by his RE friends has way too many ifs in it. Short sales and loan mods aren’t easy. You can’t assume any of them will happen. The opposite is more likely.
July 22, 2009 at 10:24 AM #435248ParticipantI know what to do!!
Since buying real estate got him into this mess, the obvious solution is to borrow MORE money and buy MORE real estate. That has to work!! Cuz you know, real estate is NEVER a bad investment. All the guys in my real estate office tell me so.
(One factoid that’s missing is which property is the security for the HELOC? Doesn’t seem any of them have equity, I wouldn’t be surprised if when he tries to stupidly borrow more money, he’s told that well is empty. If it’s on mom’s house, why would he do that to mom? Put her upside down property even MORE upside down? Bad boy!!)
On a more serious note, that scheme put together by his RE friends has way too many ifs in it. Short sales and loan mods aren’t easy. You can’t assume any of them will happen. The opposite is more likely.
July 22, 2009 at 10:24 AM #435565ParticipantI know what to do!!
Since buying real estate got him into this mess, the obvious solution is to borrow MORE money and buy MORE real estate. That has to work!! Cuz you know, real estate is NEVER a bad investment. All the guys in my real estate office tell me so.
(One factoid that’s missing is which property is the security for the HELOC? Doesn’t seem any of them have equity, I wouldn’t be surprised if when he tries to stupidly borrow more money, he’s told that well is empty. If it’s on mom’s house, why would he do that to mom? Put her upside down property even MORE upside down? Bad boy!!)
On a more serious note, that scheme put together by his RE friends has way too many ifs in it. Short sales and loan mods aren’t easy. You can’t assume any of them will happen. The opposite is more likely.
July 22, 2009 at 10:24 AM #435639ParticipantI know what to do!!
Since buying real estate got him into this mess, the obvious solution is to borrow MORE money and buy MORE real estate. That has to work!! Cuz you know, real estate is NEVER a bad investment. All the guys in my real estate office tell me so.
(One factoid that’s missing is which property is the security for the HELOC? Doesn’t seem any of them have equity, I wouldn’t be surprised if when he tries to stupidly borrow more money, he’s told that well is empty. If it’s on mom’s house, why would he do that to mom? Put her upside down property even MORE upside down? Bad boy!!)
On a more serious note, that scheme put together by his RE friends has way too many ifs in it. Short sales and loan mods aren’t easy. You can’t assume any of them will happen. The opposite is more likely.
July 22, 2009 at 10:24 AM #435808ParticipantI know what to do!!
Since buying real estate got him into this mess, the obvious solution is to borrow MORE money and buy MORE real estate. That has to work!! Cuz you know, real estate is NEVER a bad investment. All the guys in my real estate office tell me so.
(One factoid that’s missing is which property is the security for the HELOC? Doesn’t seem any of them have equity, I wouldn’t be surprised if when he tries to stupidly borrow more money, he’s told that well is empty. If it’s on mom’s house, why would he do that to mom? Put her upside down property even MORE upside down? Bad boy!!)
On a more serious note, that scheme put together by his RE friends has way too many ifs in it. Short sales and loan mods aren’t easy. You can’t assume any of them will happen. The opposite is more likely.
July 22, 2009 at 10:31 AM #435056Anonymous
GuestSo, he is going to put his mother’s credit in jeopardy so that he can avoid looking for a real job that actually provides some value for society along with some income?
I’m sorry, but people like him deserve to lose everything. Wait – he already has!
July 22, 2009 at 10:31 AM #435263GuestSo, he is going to put his mother’s credit in jeopardy so that he can avoid looking for a real job that actually provides some value for society along with some income?
I’m sorry, but people like him deserve to lose everything. Wait – he already has!
July 22, 2009 at 10:31 AM #435580GuestSo, he is going to put his mother’s credit in jeopardy so that he can avoid looking for a real job that actually provides some value for society along with some income?
I’m sorry, but people like him deserve to lose everything. Wait – he already has!
July 22, 2009 at 10:31 AM #435654GuestSo, he is going to put his mother’s credit in jeopardy so that he can avoid looking for a real job that actually provides some value for society along with some income?
I’m sorry, but people like him deserve to lose everything. Wait – he already has!
July 22, 2009 at 10:31 AM #435823GuestSo, he is going to put his mother’s credit in jeopardy so that he can avoid looking for a real job that actually provides some value for society along with some income?
I’m sorry, but people like him deserve to lose everything. Wait – he already has!
July 22, 2009 at 10:48 AM #435066PCinSD
GuestSounds like he plans to “spend more to avoid bankruptcy”. He’s not the only one with that idea.
July 22, 2009 at 10:48 AM #435273GuestSounds like he plans to “spend more to avoid bankruptcy”. He’s not the only one with that idea.
July 22, 2009 at 10:48 AM #435590GuestSounds like he plans to “spend more to avoid bankruptcy”. He’s not the only one with that idea.
July 22, 2009 at 10:48 AM #435664GuestSounds like he plans to “spend more to avoid bankruptcy”. He’s not the only one with that idea.
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