You Can't Top This stupid real estate deal

G

garyd

Guest
Wahoo said:
... I see this as another Taxpayer purchase. (loss)

McCains had about 1.25million (borrowed) in the property, sold it for 3.2 million.
Speculator never intended to live in the home, Borrowed the money and added 1MM to make it upscale... yes that property was old with 8 foor ceilings. Tjis was Not a 1one million $ property.

Stupid for Whom?

Realtor cleans up, Fees.. upfront. :)
Mortgage Broker Cleans up, fees upfront. :)
Banker get a bonus for placing this loan, :)
Bank accepts a loss and passes it to the Taxpayer. :)

Bank took the risk and if loan is kept current they win, they rolled the dice and said "Heads I win, tails you lose," : )
. ..if not they just pass it on as a loss to the "system" the Fed, the Taxpayer.

The short sale is way to roll the loss to the Bank and in turn roll it to the Fed and then Taxpayer..... NICE!

And many wonder why GE (making millions) has not paid any US Taxes and will not in any foreseeable future...
Click to expand...
Makes me want to move to Mexico :arrow::party:
 
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