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ParticipantAt least taxes are a lot lower in Texas – if this economic disaster we have on our hands ever passes, I would definitely consider Texas.
Not property taxes — in the nice metro areas they’re 2% and up. If you’re in one of the top school districts they’re closer to 3%. And just wait until you’ve seen a Texas summer electric bill — or a Texas winter gas bill!
It is cheaper on the whole to live there but not by as much as you think. You can get a lot more for your money if that’s what you’re into though.
ParticipantIt’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.
My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.
My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…
ParticipantIt’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.
My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.
My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…
ParticipantIt’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.
My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.
My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…
ParticipantIt’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.
My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.
My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…
ParticipantIt’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.
My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.
My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
ParticipantIf I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
ParticipantHahahaha that indictment is great. “Darnell Bell AKA D-Bell”, “Marcus Dozzell aka Kali”, and my personal favorite, “Ray Logan, aka Jack Nasty”.
Hold on a second honey, I’m talking to our mortgage broker JACK NASTY on the phone. He says he can get me a sweet cash-out refi deal.
Hang them by their thumbs. I hope that D-Bell and Jack Nasty get to share a cell with Bernie Madoff. They can take turns making him toss their salads.
Of course the sad part is that it’s only these dimwits that will do time. All of the smart ones that ran the same scams have absconded with the loot and are safely out of the reach of Johnny Law.
ParticipantHahahaha that indictment is great. “Darnell Bell AKA D-Bell”, “Marcus Dozzell aka Kali”, and my personal favorite, “Ray Logan, aka Jack Nasty”.
Hold on a second honey, I’m talking to our mortgage broker JACK NASTY on the phone. He says he can get me a sweet cash-out refi deal.
Hang them by their thumbs. I hope that D-Bell and Jack Nasty get to share a cell with Bernie Madoff. They can take turns making him toss their salads.
Of course the sad part is that it’s only these dimwits that will do time. All of the smart ones that ran the same scams have absconded with the loot and are safely out of the reach of Johnny Law.
ParticipantHahahaha that indictment is great. “Darnell Bell AKA D-Bell”, “Marcus Dozzell aka Kali”, and my personal favorite, “Ray Logan, aka Jack Nasty”.
Hold on a second honey, I’m talking to our mortgage broker JACK NASTY on the phone. He says he can get me a sweet cash-out refi deal.
Hang them by their thumbs. I hope that D-Bell and Jack Nasty get to share a cell with Bernie Madoff. They can take turns making him toss their salads.
Of course the sad part is that it’s only these dimwits that will do time. All of the smart ones that ran the same scams have absconded with the loot and are safely out of the reach of Johnny Law.
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