I see an economic diasater coming...

[ATT]

@Lee

Hey Lee, i found that article, check it out:

http://www.businessinsider.com/fha-loans-help-three-broke-dudes-by-a-million-dollar-building-in-san-francisco-2009-11

Tony

[the_big_m_in_ok]

@Lee
Hey Lee, i found that article, check it out:
http://www.businessinsider.com/fha-loans-help-three-broke-dudes-by-a-million-dollar-building-in-san-francisco-2009-11
Tony

Hey Tony,
The article above should be a record breaker!!!!!         
My misgivings:
A)  With no job now, how will these guys pay back the loan???  Can they start some business and then use the duplex as part of that business?  In a recession?!?!  Did the phrase "business plan" enter the conversation along the line???  How about "collateral"?
B)  Congressional oversight is needed!!!!  This is as bad as the housing crisis, but in a bigger scale!!!  And they'll create(the FHA) more of these loans!?!?

I usually don't get this worked up, but I have the firm conviction that the Obama bubble will certainly pop with more transactions like this one being made.
It's only a matter of time.

--Lee

[Cap-Z-ro]

" Congressional oversight is needed!!!! "

If I had water in my mouth I would have done a 'spit take' when I read that phrase Lee.

Those clowns don't even read the Bills they sign and support...and they don't hide it either.

The fact that that doesn't seem to bother anyone is whats really  bothersome.

Sometimes I wonder why I bother...but before long slavery starts bothering me again, reminding me why I bother.

Its like being nagged by a plaintive cry off in the distance during quiet times.

More and more I envision the fruitful lives we could all be living in this world of plenty...were it not for the greed and selfish manipulation of a few.

There nothing I avoid more than numbers and economics, but even I can understand the logic behind the words of Walter Burien.

He has been around a long time...hear what he has to say here...

http://cafr1.com/

Regards...

[ATT]

This is as bad as the housing crisis, but in a bigger scale!!!  And they'll create(the FHA) more of these loans!?!?

...So, hey, you wanna get in on this...free money, no down, no job required??
(I think we're -all- 'in on this', whether we like it or not...).

Tony

[ATT]

@Lee
Ok, I think I figured it out:

Form a non-profit, spot a property in town, go down to the FHA and float a business loan, then turn around and contract-out as a VA half-way-house extension.

That way, the government pays the mortgage on the property that they lent you the money to buy!

It's definitely in keeping with the 'overunity' theme.

I think you gotta go for it...

Tony