Please help DINA (714)360-6357 !!!

[Bugs]

I was under the impression that the Creative Investment Club convened on another website.

There are two homes involved, and we’re apparently not talking about someone whose original motivations were limited to providing shelter for her family. There was apparently a profit motive involved, which moves this conversation in an entirely different direction away from portraying her as the victim.

There isn’t just one human face involved in this problem nor one set of poor decisions – there are several. There’s the loan originator who apparently “qualified” their borrower for far more payment than she could handle; there was the lender who allowed the LO and this borrower to get away with overstating income and other qualifications on a mortgage application; and finally there was the investor who bought the POS loans without performing their due diligence to ascertain their true risks.

That’s if the original purchases were straightforward and there was no other problems, like an overstated appraisal from a “cooperative” appraiser.

There are plenty of human faces who participated in this process and who fed at this trough. Had Dina’s gamble worked our like her mentor Carlton said it would I doubt there’d be talk of feeling sorry for her right now, despite any of the lying it would have taken to fraudulently enable those profits.

Here’s some compassion – we’re glad that the forces of the market will soon relieve Dina of the mental burden she’s carrying right now. By getting it over quickly she’ll be able to put her pain behind here rather than having to face the long slow bleed only to eventually succumb anyway 5 years from now. With her contaminated credit and her losses behind her she’ll be able to commit her full attention on her day job and thus contribute meaningfully to our society.

As for being “helpful”, I think it’s because of RE brokers and LOs who wanted to “help” Dina that she’s in this mess.

Wait!! I gotta go!! There’s another episode of “Flip this house” on TV right now!!!

[temeculaguy]

Thanks Perry, not to turn this into a lovefest but you are easily one of the top ten minds in these boards, I’ve taken quite a bit from your posts, some philosiphy and some practical (shopping furniture on Craigs right now). I read a great deal from a variety of sources and there are some posters here who provide better insight than most paid authors and analysts, the only true sage advice is given for free. OK, since this was a warm fuzzy post, gotta close with a Lao Tzu quote, one that I think hits the current market conditions perfectly despite being written about 400 b.c. “Standing on tiptoe, you are unsteady”

[temeculaguy]

Thanks Perry, not to turn this into a lovefest but you are easily one of the top ten minds in these boards, I’ve taken quite a bit from your posts, some philosiphy and some practical (shopping furniture on Craigs right now). I read a great deal from a variety of sources and there are some posters here who provide better insight than most paid authors and analysts, the only true sage advice is given for free. OK, since this was a warm fuzzy post, gotta close with a Lao Tzu quote, one that I think hits the current market conditions perfectly despite being written about 400 b.c. “Standing on tiptoe, you are unsteady”

[temeculaguy]

Thanks Perry, not to turn this into a lovefest but you are easily one of the top ten minds in these boards, I’ve taken quite a bit from your posts, some philosiphy and some practical (shopping furniture on Craigs right now). I read a great deal from a variety of sources and there are some posters here who provide better insight than most paid authors and analysts, the only true sage advice is given for free. OK, since this was a warm fuzzy post, gotta close with a Lao Tzu quote, one that I think hits the current market conditions perfectly despite being written about 400 b.c. “Standing on tiptoe, you are unsteady”

[lniles]

Hi Pasadena Broker,

Just curious, how did it get tougher? I would assume that now all loans are full-doc and involve a lot more investigation of credit history, income-to-debt ratios, and assets. If I were the lender I would definitely require these checks in a time when housing prices are going down. It just makes good business sense.

[lniles]

Hi Pasadena Broker,

Just curious, how did it get tougher? I would assume that now all loans are full-doc and involve a lot more investigation of credit history, income-to-debt ratios, and assets. If I were the lender I would definitely require these checks in a time when housing prices are going down. It just makes good business sense.

[lniles]

Hi Pasadena Broker,

Just curious, how did it get tougher? I would assume that now all loans are full-doc and involve a lot more investigation of credit history, income-to-debt ratios, and assets. If I were the lender I would definitely require these checks in a time when housing prices are going down. It just makes good business sense.

[joebaduba]

Saddled with these regal residences, surely this seller doesn’t still believe the tired old “jump start your future” and “let the government give you a raise” BS that got them into this trouble in the first place. They are turning right around and using those lines to lure some other gullible fool. In times like this, should we have compassion for that?

[joebaduba]

Saddled with these regal residences, surely this seller doesn’t still believe the tired old “jump start your future” and “let the government give you a raise” BS that got them into this trouble in the first place. They are turning right around and using those lines to lure some other gullible fool. In times like this, should we have compassion for that?

[joebaduba]

Saddled with these regal residences, surely this seller doesn’t still believe the tired old “jump start your future” and “let the government give you a raise” BS that got them into this trouble in the first place. They are turning right around and using those lines to lure some other gullible fool. In times like this, should we have compassion for that?

[temeculaguy]

Pasadena, Please don’t interpret my words as me trying to pick a fight and it’s hard to tell if someone is a studied lurker or a drop in, was just trying to bring you up to speed but obviously you already are. As Bugs pointed out, there appears to be evidence that the original properties are more than one, recently built and indicative of a specuvestor. There are many hard working families who own only one home and are getting screwed right now, that sucks, wish it didn’t happen. I know as a broker you feel bad for some of them looking for relief but I have seen the other side of this and it has jaded me a little. I have a few dozen employees yet I don’t set their wages. I like them, wish the best for them and consider them friends. Most of them make just under six figures and almost all have young children. None of them can buy a modest home with decent schools and for the last 100 years people in their position could. They did what they were told, they went to school, got good jobs, work hard every day and what they ask in return has always been attainable until now. I know those times will return and unfortunately there will be casualties on the way there but in the end it will be better for society as a whole. Dina will survive, she won’t lose any limbs and hopefully she will become a wise investor in the future, or at least one with spell check and can spell the name of the city where she owns homes (dammit, all this way writing like a grown up and then, poof).

[temeculaguy]

Pasadena, Please don’t interpret my words as me trying to pick a fight and it’s hard to tell if someone is a studied lurker or a drop in, was just trying to bring you up to speed but obviously you already are. As Bugs pointed out, there appears to be evidence that the original properties are more than one, recently built and indicative of a specuvestor. There are many hard working families who own only one home and are getting screwed right now, that sucks, wish it didn’t happen. I know as a broker you feel bad for some of them looking for relief but I have seen the other side of this and it has jaded me a little. I have a few dozen employees yet I don’t set their wages. I like them, wish the best for them and consider them friends. Most of them make just under six figures and almost all have young children. None of them can buy a modest home with decent schools and for the last 100 years people in their position could. They did what they were told, they went to school, got good jobs, work hard every day and what they ask in return has always been attainable until now. I know those times will return and unfortunately there will be casualties on the way there but in the end it will be better for society as a whole. Dina will survive, she won’t lose any limbs and hopefully she will become a wise investor in the future, or at least one with spell check and can spell the name of the city where she owns homes (dammit, all this way writing like a grown up and then, poof).

[temeculaguy]

Pasadena, Please don’t interpret my words as me trying to pick a fight and it’s hard to tell if someone is a studied lurker or a drop in, was just trying to bring you up to speed but obviously you already are. As Bugs pointed out, there appears to be evidence that the original properties are more than one, recently built and indicative of a specuvestor. There are many hard working families who own only one home and are getting screwed right now, that sucks, wish it didn’t happen. I know as a broker you feel bad for some of them looking for relief but I have seen the other side of this and it has jaded me a little. I have a few dozen employees yet I don’t set their wages. I like them, wish the best for them and consider them friends. Most of them make just under six figures and almost all have young children. None of them can buy a modest home with decent schools and for the last 100 years people in their position could. They did what they were told, they went to school, got good jobs, work hard every day and what they ask in return has always been attainable until now. I know those times will return and unfortunately there will be casualties on the way there but in the end it will be better for society as a whole. Dina will survive, she won’t lose any limbs and hopefully she will become a wise investor in the future, or at least one with spell check and can spell the name of the city where she owns homes (dammit, all this way writing like a grown up and then, poof).

[drunkle]

speaking of knuckleheads, some nameless, faceless, blameless, self righteous, sanctimonious prick thinks having a slight amount of misguided internet compassion makes him the second coming. you’d think people were stoning a retarded pregnant girl instead of making harmless banter about a fool and her money.

fact is, harmless banter is harmless banter, the damage that mortgage day traders and their financiers (like… brokers…) have done to the economy, the country, the world is just slightly worse.

and on second thought, repo man may not be for you. being so compassionate, you’d likely give the sods a pat on the head, soft cooing noises and let them keep their toys.

[drunkle]

speaking of knuckleheads, some nameless, faceless, blameless, self righteous, sanctimonious prick thinks having a slight amount of misguided internet compassion makes him the second coming. you’d think people were stoning a retarded pregnant girl instead of making harmless banter about a fool and her money.

fact is, harmless banter is harmless banter, the damage that mortgage day traders and their financiers (like… brokers…) have done to the economy, the country, the world is just slightly worse.

and on second thought, repo man may not be for you. being so compassionate, you’d likely give the sods a pat on the head, soft cooing noises and let them keep their toys.

[Author]

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