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Re: Bea, a ONE time deal?
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man...that is a great idea ....we have to be licensed in this state of confusion to do home inspections tho ....but ...a checklist would be great idea....just need to find out WHO would buy it ... the banks want to move these quickly ....the inspectors inspect, the 'preservation contractors' repair it to hud or ginne mae minimums...( for outrageous sums, by the way )....and then HUD, FannieMae., or whatever taxpayer supported Gurantor underwrote the loan package...anyway, these people end up with the property ... then...instead of giving em away for a reasonable price, they close em up and wait for the market to change...meanwhile, the neighborhood deteriorates ///bringing down the values of ALL the houses.... finally , the house will be in such poor condition, that the local community will condemn it ....and then ....someone buys it for a song....puts some little bit in it ..and puts in on the market for an outrageous price....an aggressive appraisor gives it a high value, the mortgage underwriter uses creative accounting, the loan is given to people who cannot even afford a 5% down payment... and the cycle continues... some of the higher valued neighborhoods around here are helping people avoid foreclosure within the community ...not entirely out of charity , but as means to avoid the contagion of the mortagage industry and those associated with it ... anyway ...a hotsheet would be HOT , if anyone could suggest how toget in the right market ... thanks |
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