Temecula housing market becoming illiquid?

[no_such_reality]

The ‘new’ program they were supposed to give you 6-9 months worth of payments and you could ‘choose’ whether to keep or sell

Did any body bother to ask where the money for the 6-9 months of payments was suppose to come from?

[Anonymous]

No…they never explained it to us. They called it ‘equity-sharing.’ I’m sure people did…and I am sure they were given a ‘logical/plausible’ answer as usual. Good answers to questions always came easy to them.

To PerryChase: I’m sorry but you are so very wrong. I’m not even going to try and change your mind. Your opinion is uniquely yours. The truth is different than your what you accuse the victims of. I have the proof of that. Proof of changes made after loans were signed. They were all stated income loans. I was told to sign and I signed. If that makes me an idiot, so be it. (I’m in good company because there are almost 1000 victims and they are really great people) But I am not a crook. They took my money by theivery. It’s called a Ponzi scheme.

[Anonymous]

No…they never explained it to us. They called it ‘equity-sharing.’ I’m sure people did…and I am sure they were given a ‘logical/plausible’ answer as usual. Good answers to questions always came easy to them.

To PerryChase: I’m sorry but you are so very wrong. I’m not even going to try and change your mind. Your opinion is uniquely yours. The truth is different than your what you accuse the victims of. I have the proof of that. Proof of changes made after loans were signed. They were all stated income loans. I was told to sign and I signed. If that makes me an idiot, so be it. (I’m in good company because there are almost 1000 victims and they are really great people) But I am not a crook. They took my money by theivery. It’s called a Ponzi scheme.

[patientrenter]

CbC,

You’re getting a little sympathy here, but less than you want. I think most of us see the possible fraud committed against you, and we hear and understand your protestations of naivete and complete innocence.

But we can also see that, no matter how naive you claim to be, you had to have known that you were entering into an arrangement to extract gains from an asset you couldn’t afford to buy through normal, honest and prudent means, and you were doing so with absolutely no plan to pay for losses.

Furthermore, many of us who play by the rules of personal financial responsibility understand that we are victims of your actions or similar actions of others like you. Home prices became unaffordable for us because of people like you signing fraudulent applications for “stated income” loans and other loans that they couldn’t afford to pay unless they were lucky enough to sell the home for more money to someone else in the future.

If a bank robber caught in the act was being led away in handcuffs, and was shouting that his leader had lied to him about his share of the take and that the leader should be put in jail for it, and I knew that his leader had lied horribly and criminally to him, I would have about the same sympathy for the bank robber as I do for you.

Sorry for the brutal honesty, but there it is.

Patient renter in OC

[patientrenter]

CbC,

You’re getting a little sympathy here, but less than you want. I think most of us see the possible fraud committed against you, and we hear and understand your protestations of naivete and complete innocence.

But we can also see that, no matter how naive you claim to be, you had to have known that you were entering into an arrangement to extract gains from an asset you couldn’t afford to buy through normal, honest and prudent means, and you were doing so with absolutely no plan to pay for losses.

Furthermore, many of us who play by the rules of personal financial responsibility understand that we are victims of your actions or similar actions of others like you. Home prices became unaffordable for us because of people like you signing fraudulent applications for “stated income” loans and other loans that they couldn’t afford to pay unless they were lucky enough to sell the home for more money to someone else in the future.

If a bank robber caught in the act was being led away in handcuffs, and was shouting that his leader had lied to him about his share of the take and that the leader should be put in jail for it, and I knew that his leader had lied horribly and criminally to him, I would have about the same sympathy for the bank robber as I do for you.

Sorry for the brutal honesty, but there it is.

Patient renter in OC

[no_such_reality]

I think a lot of us look at the Temecula fraud case like the Courts look company management in a hostile work environment & sexual harassment case. The operative ruling is “known” or “should have known”…

Similarly to corporate crime, SOX was instigated to eliminate CEOs claming “not to have known”. CEO were experts at insulating themselves from information so that they didn’t officially know of any bending of the rules.

Yes, we realize there is much blatant crime in the final execution of the gambit by the ring-leaders. However, many of us see a situation where the ‘victims’ “should have known” it was illegitimate and thus appear to be willing co-conspirators ready to go along as long as they thought they were going to get theirs that didn’t cry fowl until they got stung.

[no_such_reality]

I think a lot of us look at the Temecula fraud case like the Courts look company management in a hostile work environment & sexual harassment case. The operative ruling is “known” or “should have known”…

Similarly to corporate crime, SOX was instigated to eliminate CEOs claming “not to have known”. CEO were experts at insulating themselves from information so that they didn’t officially know of any bending of the rules.

Yes, we realize there is much blatant crime in the final execution of the gambit by the ring-leaders. However, many of us see a situation where the ‘victims’ “should have known” it was illegitimate and thus appear to be willing co-conspirators ready to go along as long as they thought they were going to get theirs that didn’t cry fowl until they got stung.

[Anonymous]

you are welcome to your own opinions.
We do apologize for single-handedly screwing up the housing market for you.

[Anonymous]

you are welcome to your own opinions.
We do apologize for single-handedly screwing up the housing market for you.

[Borat]

Sux to be you.

[Borat]

Sux to be you.

[Ricechex]

Blaming the victim is not usually a good idea, however, one has to question every day common sense of the “victims” of this scam.

If it is too good to be true, it usually is.

This is just another representation of a society flawed by its incessant and persistent need to accumulate wealth without having to work for it. Pure and simple greed. That only works for the World Bank, it does not work for simple peasants like the family that bought 8 houses in Temecula. Sheesh. Does not take a brain surgeon to know that something is rotten in Denmark.

This is not to say that the “victims” are not “nice” people. I am sure they work hard, and are kind to kids and animals. Their lust for greed did away with common sense. The company should be held responsible for creating false documents, etc., but the individual is essentially responsible for signing on the dotted line. Blaming the company for purchasing 8 houses?!! Ludicrous. The entitlement is disgusting.

They would have had better luck with the slot machines.

[Ricechex]

Blaming the victim is not usually a good idea, however, one has to question every day common sense of the “victims” of this scam.

If it is too good to be true, it usually is.

This is just another representation of a society flawed by its incessant and persistent need to accumulate wealth without having to work for it. Pure and simple greed. That only works for the World Bank, it does not work for simple peasants like the family that bought 8 houses in Temecula. Sheesh. Does not take a brain surgeon to know that something is rotten in Denmark.

This is not to say that the “victims” are not “nice” people. I am sure they work hard, and are kind to kids and animals. Their lust for greed did away with common sense. The company should be held responsible for creating false documents, etc., but the individual is essentially responsible for signing on the dotted line. Blaming the company for purchasing 8 houses?!! Ludicrous. The entitlement is disgusting.

They would have had better luck with the slot machines.

[patientrenter]

“We do apologize for single-handedly screwing up the housing market for you.”

CbC,

You sarcastically dismiss the voice of people who merely pount out that they were damaged by your fraudulent actions and similar actions by others like you. Meanwhile you are looking to get massive tax-dollar-funded resources of the community to fight on your behalf against some of your co-conspirators. Can you spell H-Y-P-O-C-R-I-S-Y?

Patient renter in OC

[patientrenter]

“We do apologize for single-handedly screwing up the housing market for you.”

CbC,

You sarcastically dismiss the voice of people who merely pount out that they were damaged by your fraudulent actions and similar actions by others like you. Meanwhile you are looking to get massive tax-dollar-funded resources of the community to fight on your behalf against some of your co-conspirators. Can you spell H-Y-P-O-C-R-I-S-Y?

Patient renter in OC

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