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patientlywaiting
ParticipantLet’s see… According to property records this guy never made any money flipping houses.
He may have made money in the mortgage business but it certainly didn’t go to pay-off his mortgage.
He refinance his Del Mar house numerous times, each time taking out more and more. It looks like the latest notes are:
1/13/2006 WAMU 731,900 first
10/6/2007 WAMU 160,000 2ndMaybe the money went to the condo downpayment or into the “develpment” cost of the surf board. What a goofy idea. I doubt a motorized surf board will make it. If anything, it’s dangerous and will cause injuries and lawsuits.
The condo transaction is not yet available.
ParticipantI’m sure that dealing with hysterical and demanding housewives is not something that builders would relish.
ParticipantI’m sure that dealing with hysterical and demanding housewives is not something that builders would relish.
ParticipantI’m sure that dealing with hysterical and demanding housewives is not something that builders would relish.
ParticipantI’m with you betting on fall.
I don’t know how he came up with $6100/mo carrying cost.Purchase Price 1,400,000
Down Payment –
Loan Amount 1,400,000
Interest Rate 7.00%Monthly Interest 8,167
Prop Tax Rate 1.20%
Prop Tax 1,400
HOA 800
Insurance 100
Maintenance 100Total 10,567
I don’t feel sorry for this guy and his family in the least. They completely deserve what’s coming to them.
ParticipantI’m with you betting on fall.
I don’t know how he came up with $6100/mo carrying cost.Purchase Price 1,400,000
Down Payment –
Loan Amount 1,400,000
Interest Rate 7.00%Monthly Interest 8,167
Prop Tax Rate 1.20%
Prop Tax 1,400
HOA 800
Insurance 100
Maintenance 100Total 10,567
I don’t feel sorry for this guy and his family in the least. They completely deserve what’s coming to them.
ParticipantI’m with you betting on fall.
I don’t know how he came up with $6100/mo carrying cost.Purchase Price 1,400,000
Down Payment –
Loan Amount 1,400,000
Interest Rate 7.00%Monthly Interest 8,167
Prop Tax Rate 1.20%
Prop Tax 1,400
HOA 800
Insurance 100
Maintenance 100Total 10,567
I don’t feel sorry for this guy and his family in the least. They completely deserve what’s coming to them.
ParticipantI guess the fire is a blessing in disguise. The destruction will keep the contractors busy for a while. Oh well, I’ll have wait longer for the improvement I want (if my house doesn’t burn down also).
ParticipantI guess the fire is a blessing in disguise. The destruction will keep the contractors busy for a while. Oh well, I’ll have wait longer for the improvement I want (if my house doesn’t burn down also).
ParticipantI guess the fire is a blessing in disguise. The destruction will keep the contractors busy for a while. Oh well, I’ll have wait longer for the improvement I want (if my house doesn’t burn down also).
October 22, 2007 at 12:46 PM in reply to: “The Subprime Blame Game: Where Were the Realtors?” #90626ParticipantWay to go, JWM. That guy Mike is a real idiot.
October 22, 2007 at 12:46 PM in reply to: “The Subprime Blame Game: Where Were the Realtors?” #90643ParticipantWay to go, JWM. That guy Mike is a real idiot.
October 22, 2007 at 12:46 PM in reply to: “The Subprime Blame Game: Where Were the Realtors?” #90645ParticipantWay to go, JWM. That guy Mike is a real idiot.
October 22, 2007 at 12:41 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90623ParticipantFrom what I understand debt forgiveness is taxable and you must report it regardless of whether you receive at 1099. It’s like interest income. You need to report interest earned even if you don’t get a 1099 (ie from a foreign bank account or from a private party loan).
Talk to a tax adviser.
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