[joestool]

[quote=CA renter]
Maybe see if the seller will pay off the Mello-Roos? Not common at all, but certainly worth a try, IMHO.[/quote]

Nice try, but read the fine print. Many of the districts have the right to renew the Mello-Roos tax
and can increase the amount of tax dependening upon the community facilities agreement.

Also, even after any initial bond debts are paid off, a CFD will continue to charge a reduced fee to
maintain the improvements.

There’s virtually no way for a Mello-Roos to be fully pre-paid by a seller, or ever become fully paid off.

Here’s how it works:
1) The original developer buys an undeveloped tract of land in a sweetheart deal with local government who in return will get a new faction of constituents to rule over and new tax base to bleed.

2) Being undeveloped land with 12 or fewer residents, the sole landowner unilaterally votes himself the formation of a CFD. This allows the developer to sell a crapload of bonds for a great price and rake in a ton of cash since the bonds are now backed by a state enforced tax lien on the property.

3) Developer then lays down a few runs of water/sewer pipe and asphalt as a token gesture in return for the free cash while the majority of it is secretly funneled into hidden offshore accounts.

4) Developer then slaps up a bunch of stucco crap-boxes as densely as possible in order to maximize crapbox sale profits while also maximizing opportunity to offload the CFD bond debt obligations as quickly as possible.

5) Through the magic of MBS’s, derivatives, market manipulation, reality TV and greed: exotic mortgage products make a half million dollars or higher debt obligation in exchange for a stucco shitbox with an additional monthly HOA and Mello-Roos obligation thrown in still seem like a great investment to a piker.

6) Original developer makes off with majority of the CFD bond money stashed away in a secret offshore tax haven, in addition to profits from dumping hundreds of McMansions onto the wannabe housewives of OC, in addition to receiving an annuity from his cut of the ongoing fees from the HOA fees and Mello-Roos “maintenance” taxes ongoing in perpetuity.

In addition, his brother-in-law attorney gets a sweet annuity deal collecting management fees and embezzling from the HOA. Even his worthless high school dropout cousin gets in on the feeding trough with his no-bid lifetime contract with the HOA for providing common landscape maintenance at an above market rate.

The realtors, mortgage loan agents and bankers all get their skim. The mortgage lenders don’t risk any of their own money once they package and CDO hedge the toxic waste off to CALPERS or Iceland and collect rich fees while they do it. Even the CALPERS and Icelandic fund managers collect their fees, and get paid their bonuses and salary as long as they do what their told and to use their funds to buy the crap. When those funds blow up, no problem — the FHA steps in as the new designated bag holder.

Minus the cost of kickbacks, cocaine and Ukrainian prostitutes needed to get the necessary bankers and government cohorts on board to play ball in the scheme — everyone still comes out handsomely in the black.

So you wanna be the mortgage holder on one of these fine gems in the “inland empire” because you think you’re where exactly in the foodchain in this scheme? Recipient of an 8k tax credit?

[joestool]

[quote=CA renter]
Maybe see if the seller will pay off the Mello-Roos? Not common at all, but certainly worth a try, IMHO.[/quote]

Nice try, but read the fine print. Many of the districts have the right to renew the Mello-Roos tax
and can increase the amount of tax dependening upon the community facilities agreement.

Also, even after any initial bond debts are paid off, a CFD will continue to charge a reduced fee to
maintain the improvements.

There’s virtually no way for a Mello-Roos to be fully pre-paid by a seller, or ever become fully paid off.

Here’s how it works:
1) The original developer buys an undeveloped tract of land in a sweetheart deal with local government who in return will get a new faction of constituents to rule over and new tax base to bleed.

2) Being undeveloped land with 12 or fewer residents, the sole landowner unilaterally votes himself the formation of a CFD. This allows the developer to sell a crapload of bonds for a great price and rake in a ton of cash since the bonds are now backed by a state enforced tax lien on the property.

3) Developer then lays down a few runs of water/sewer pipe and asphalt as a token gesture in return for the free cash while the majority of it is secretly funneled into hidden offshore accounts.

4) Developer then slaps up a bunch of stucco crap-boxes as densely as possible in order to maximize crapbox sale profits while also maximizing opportunity to offload the CFD bond debt obligations as quickly as possible.

5) Through the magic of MBS’s, derivatives, market manipulation, reality TV and greed: exotic mortgage products make a half million dollars or higher debt obligation in exchange for a stucco shitbox with an additional monthly HOA and Mello-Roos obligation thrown in still seem like a great investment to a piker.

6) Original developer makes off with majority of the CFD bond money stashed away in a secret offshore tax haven, in addition to profits from dumping hundreds of McMansions onto the wannabe housewives of OC, in addition to receiving an annuity from his cut of the ongoing fees from the HOA fees and Mello-Roos “maintenance” taxes ongoing in perpetuity.

In addition, his brother-in-law attorney gets a sweet annuity deal collecting management fees and embezzling from the HOA. Even his worthless high school dropout cousin gets in on the feeding trough with his no-bid lifetime contract with the HOA for providing common landscape maintenance at an above market rate.

The realtors, mortgage loan agents and bankers all get their skim. The mortgage lenders don’t risk any of their own money once they package and CDO hedge the toxic waste off to CALPERS or Iceland and collect rich fees while they do it. Even the CALPERS and Icelandic fund managers collect their fees, and get paid their bonuses and salary as long as they do what their told and to use their funds to buy the crap. When those funds blow up, no problem — the FHA steps in as the new designated bag holder.

Minus the cost of kickbacks, cocaine and Ukrainian prostitutes needed to get the necessary bankers and government cohorts on board to play ball in the scheme — everyone still comes out handsomely in the black.

So you wanna be the mortgage holder on one of these fine gems in the “inland empire” because you think you’re where exactly in the foodchain in this scheme? Recipient of an 8k tax credit?

[joestool]

[quote=CA renter]
Maybe see if the seller will pay off the Mello-Roos? Not common at all, but certainly worth a try, IMHO.[/quote]

Nice try, but read the fine print. Many of the districts have the right to renew the Mello-Roos tax
and can increase the amount of tax dependening upon the community facilities agreement.

Also, even after any initial bond debts are paid off, a CFD will continue to charge a reduced fee to
maintain the improvements.

There’s virtually no way for a Mello-Roos to be fully pre-paid by a seller, or ever become fully paid off.

Here’s how it works:
1) The original developer buys an undeveloped tract of land in a sweetheart deal with local government who in return will get a new faction of constituents to rule over and new tax base to bleed.

2) Being undeveloped land with 12 or fewer residents, the sole landowner unilaterally votes himself the formation of a CFD. This allows the developer to sell a crapload of bonds for a great price and rake in a ton of cash since the bonds are now backed by a state enforced tax lien on the property.

3) Developer then lays down a few runs of water/sewer pipe and asphalt as a token gesture in return for the free cash while the majority of it is secretly funneled into hidden offshore accounts.

4) Developer then slaps up a bunch of stucco crap-boxes as densely as possible in order to maximize crapbox sale profits while also maximizing opportunity to offload the CFD bond debt obligations as quickly as possible.

5) Through the magic of MBS’s, derivatives, market manipulation, reality TV and greed: exotic mortgage products make a half million dollars or higher debt obligation in exchange for a stucco shitbox with an additional monthly HOA and Mello-Roos obligation thrown in still seem like a great investment to a piker.

6) Original developer makes off with majority of the CFD bond money stashed away in a secret offshore tax haven, in addition to profits from dumping hundreds of McMansions onto the wannabe housewives of OC, in addition to receiving an annuity from his cut of the ongoing fees from the HOA fees and Mello-Roos “maintenance” taxes ongoing in perpetuity.

In addition, his brother-in-law attorney gets a sweet annuity deal collecting management fees and embezzling from the HOA. Even his worthless high school dropout cousin gets in on the feeding trough with his no-bid lifetime contract with the HOA for providing common landscape maintenance at an above market rate.

The realtors, mortgage loan agents and bankers all get their skim. The mortgage lenders don’t risk any of their own money once they package and CDO hedge the toxic waste off to CALPERS or Iceland and collect rich fees while they do it. Even the CALPERS and Icelandic fund managers collect their fees, and get paid their bonuses and salary as long as they do what their told and to use their funds to buy the crap. When those funds blow up, no problem — the FHA steps in as the new designated bag holder.

Minus the cost of kickbacks, cocaine and Ukrainian prostitutes needed to get the necessary bankers and government cohorts on board to play ball in the scheme — everyone still comes out handsomely in the black.

So you wanna be the mortgage holder on one of these fine gems in the “inland empire” because you think you’re where exactly in the foodchain in this scheme? Recipient of an 8k tax credit?

[joestool]

[quote=CA renter]
Maybe see if the seller will pay off the Mello-Roos? Not common at all, but certainly worth a try, IMHO.[/quote]

Nice try, but read the fine print. Many of the districts have the right to renew the Mello-Roos tax
and can increase the amount of tax dependening upon the community facilities agreement.

Also, even after any initial bond debts are paid off, a CFD will continue to charge a reduced fee to
maintain the improvements.

There’s virtually no way for a Mello-Roos to be fully pre-paid by a seller, or ever become fully paid off.

Here’s how it works:
1) The original developer buys an undeveloped tract of land in a sweetheart deal with local government who in return will get a new faction of constituents to rule over and new tax base to bleed.

2) Being undeveloped land with 12 or fewer residents, the sole landowner unilaterally votes himself the formation of a CFD. This allows the developer to sell a crapload of bonds for a great price and rake in a ton of cash since the bonds are now backed by a state enforced tax lien on the property.

3) Developer then lays down a few runs of water/sewer pipe and asphalt as a token gesture in return for the free cash while the majority of it is secretly funneled into hidden offshore accounts.

4) Developer then slaps up a bunch of stucco crap-boxes as densely as possible in order to maximize crapbox sale profits while also maximizing opportunity to offload the CFD bond debt obligations as quickly as possible.

5) Through the magic of MBS’s, derivatives, market manipulation, reality TV and greed: exotic mortgage products make a half million dollars or higher debt obligation in exchange for a stucco shitbox with an additional monthly HOA and Mello-Roos obligation thrown in still seem like a great investment to a piker.

6) Original developer makes off with majority of the CFD bond money stashed away in a secret offshore tax haven, in addition to profits from dumping hundreds of McMansions onto the wannabe housewives of OC, in addition to receiving an annuity from his cut of the ongoing fees from the HOA fees and Mello-Roos “maintenance” taxes ongoing in perpetuity.

In addition, his brother-in-law attorney gets a sweet annuity deal collecting management fees and embezzling from the HOA. Even his worthless high school dropout cousin gets in on the feeding trough with his no-bid lifetime contract with the HOA for providing common landscape maintenance at an above market rate.

The realtors, mortgage loan agents and bankers all get their skim. The mortgage lenders don’t risk any of their own money once they package and CDO hedge the toxic waste off to CALPERS or Iceland and collect rich fees while they do it. Even the CALPERS and Icelandic fund managers collect their fees, and get paid their bonuses and salary as long as they do what their told and to use their funds to buy the crap. When those funds blow up, no problem — the FHA steps in as the new designated bag holder.

Minus the cost of kickbacks, cocaine and Ukrainian prostitutes needed to get the necessary bankers and government cohorts on board to play ball in the scheme — everyone still comes out handsomely in the black.

So you wanna be the mortgage holder on one of these fine gems in the “inland empire” because you think you’re where exactly in the foodchain in this scheme? Recipient of an 8k tax credit?

[joestool]

[quote=CA renter]
Maybe see if the seller will pay off the Mello-Roos? Not common at all, but certainly worth a try, IMHO.[/quote]

Nice try, but read the fine print. Many of the districts have the right to renew the Mello-Roos tax
and can increase the amount of tax dependening upon the community facilities agreement.

Also, even after any initial bond debts are paid off, a CFD will continue to charge a reduced fee to
maintain the improvements.

There’s virtually no way for a Mello-Roos to be fully pre-paid by a seller, or ever become fully paid off.

Here’s how it works:
1) The original developer buys an undeveloped tract of land in a sweetheart deal with local government who in return will get a new faction of constituents to rule over and new tax base to bleed.

2) Being undeveloped land with 12 or fewer residents, the sole landowner unilaterally votes himself the formation of a CFD. This allows the developer to sell a crapload of bonds for a great price and rake in a ton of cash since the bonds are now backed by a state enforced tax lien on the property.

3) Developer then lays down a few runs of water/sewer pipe and asphalt as a token gesture in return for the free cash while the majority of it is secretly funneled into hidden offshore accounts.

4) Developer then slaps up a bunch of stucco crap-boxes as densely as possible in order to maximize crapbox sale profits while also maximizing opportunity to offload the CFD bond debt obligations as quickly as possible.

5) Through the magic of MBS’s, derivatives, market manipulation, reality TV and greed: exotic mortgage products make a half million dollars or higher debt obligation in exchange for a stucco shitbox with an additional monthly HOA and Mello-Roos obligation thrown in still seem like a great investment to a piker.

6) Original developer makes off with majority of the CFD bond money stashed away in a secret offshore tax haven, in addition to profits from dumping hundreds of McMansions onto the wannabe housewives of OC, in addition to receiving an annuity from his cut of the ongoing fees from the HOA fees and Mello-Roos “maintenance” taxes ongoing in perpetuity.

In addition, his brother-in-law attorney gets a sweet annuity deal collecting management fees and embezzling from the HOA. Even his worthless high school dropout cousin gets in on the feeding trough with his no-bid lifetime contract with the HOA for providing common landscape maintenance at an above market rate.

The realtors, mortgage loan agents and bankers all get their skim. The mortgage lenders don’t risk any of their own money once they package and CDO hedge the toxic waste off to CALPERS or Iceland and collect rich fees while they do it. Even the CALPERS and Icelandic fund managers collect their fees, and get paid their bonuses and salary as long as they do what their told and to use their funds to buy the crap. When those funds blow up, no problem — the FHA steps in as the new designated bag holder.

Minus the cost of kickbacks, cocaine and Ukrainian prostitutes needed to get the necessary bankers and government cohorts on board to play ball in the scheme — everyone still comes out handsomely in the black.

So you wanna be the mortgage holder on one of these fine gems in the “inland empire” because you think you’re where exactly in the foodchain in this scheme? Recipient of an 8k tax credit?

[joestool]

[quote=nocommonsense]If it weren’t for the mello rous, the loan is actually quite affordable to us, but with the extra $1000 tax a month it’ll be tight.[/quote]

Factor in another 6-8k/yr for property tax coming to another roughly $600/month and for $1600 a month you’d be paying in taxes alone you could just about rent a place. I know, I know — renting’s just throwing your money away.

Got interest and PMI to pay on that too?

BTW: If you can’t even spell Mello-Roos, you shouldn’t be signing a contract obligating yourself to pay it. Really, you should read it first.

[joestool]

[quote=nocommonsense]If it weren’t for the mello rous, the loan is actually quite affordable to us, but with the extra $1000 tax a month it’ll be tight.[/quote]

Factor in another 6-8k/yr for property tax coming to another roughly $600/month and for $1600 a month you’d be paying in taxes alone you could just about rent a place. I know, I know — renting’s just throwing your money away.

Got interest and PMI to pay on that too?

BTW: If you can’t even spell Mello-Roos, you shouldn’t be signing a contract obligating yourself to pay it. Really, you should read it first.

[joestool]

[quote=nocommonsense]If it weren’t for the mello rous, the loan is actually quite affordable to us, but with the extra $1000 tax a month it’ll be tight.[/quote]

Factor in another 6-8k/yr for property tax coming to another roughly $600/month and for $1600 a month you’d be paying in taxes alone you could just about rent a place. I know, I know — renting’s just throwing your money away.

Got interest and PMI to pay on that too?

BTW: If you can’t even spell Mello-Roos, you shouldn’t be signing a contract obligating yourself to pay it. Really, you should read it first.

[joestool]

[quote=nocommonsense]If it weren’t for the mello rous, the loan is actually quite affordable to us, but with the extra $1000 tax a month it’ll be tight.[/quote]

Factor in another 6-8k/yr for property tax coming to another roughly $600/month and for $1600 a month you’d be paying in taxes alone you could just about rent a place. I know, I know — renting’s just throwing your money away.

Got interest and PMI to pay on that too?

BTW: If you can’t even spell Mello-Roos, you shouldn’t be signing a contract obligating yourself to pay it. Really, you should read it first.

[joestool]

[quote=nocommonsense]If it weren’t for the mello rous, the loan is actually quite affordable to us, but with the extra $1000 tax a month it’ll be tight.[/quote]

Factor in another 6-8k/yr for property tax coming to another roughly $600/month and for $1600 a month you’d be paying in taxes alone you could just about rent a place. I know, I know — renting’s just throwing your money away.

Got interest and PMI to pay on that too?

BTW: If you can’t even spell Mello-Roos, you shouldn’t be signing a contract obligating yourself to pay it. Really, you should read it first.

[joestool]

been to most gold dealers in SD at one time or another and x2 what 4plexowner said: Cellar Coin on Garnet in PB

[joestool]

been to most gold dealers in SD at one time or another and x2 what 4plexowner said: Cellar Coin on Garnet in PB

[joestool]

been to most gold dealers in SD at one time or another and x2 what 4plexowner said: Cellar Coin on Garnet in PB

[joestool]

been to most gold dealers in SD at one time or another and x2 what 4plexowner said: Cellar Coin on Garnet in PB

[joestool]

been to most gold dealers in SD at one time or another and x2 what 4plexowner said: Cellar Coin on Garnet in PB

[Author]

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