Records: Prof profited by buying, selling homes

[Raider Ronnie]

This #^&#^&#^&#^&ing piece of #^&#^&#^&#^& got 95.7 % of the democratic vote today.
More proof that people in Ma. are either #^&#^&#^&#^&ing brain dead or part of the #^&#^&#^&#^&ing liberal corruption machine !

[justplugit]

All liberal heart, lending her own Brother, at TWICE the going rate of 4.5%,
a 9.5% loan so he could get in on the action and at the same time profiting even
more for herself.

[spence]

Originally Posted by justplugit

All liberal heart, lending her own Brother, at TWICE the going rate of 4.5%,
a 9.5% loan so he could get in on the action and at the same time profiting even
more for herself.

That loan was in 2000 when the average mortgage rate was closer to 8 percent I believe. The article is misleading...it also doesn't say if she underwrote or consigned the loan. If he was higher risk he might not have qualified for a good rate either...9.5 could have been a good deal for him.
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[Fly Rod]

Well Spence as much as I hate to, I have to agree some with U...he aquired the loan in 1997, 3 months of interest at 9.5 would be approximately 831 dollars, also had to pay 3 months of city or town property tax at the closing, water and sewer bill if any... does not state if he used an attorney we do not know if he used a Realtor for that property or any other properties that any of them sold....plus did he hire anyone to caulk and paint. So the story is a little mis leading as far as profit....and I do believe that in this country a person has the right to make a profit.... plus I'm not going to vote for her anyway. She is a prototype of Jane Lubchenco head of NOAA and is not for the fisherman.

In today's world at this time if a person has monies to invest I would invest in buying property and not the stock market. And I hate to say that monies R made on others miss fortune...its been happening with people buying boats...getting good deals on others miss fortune

[Jim in CT]

Originally Posted by Fly Rod

and I do believe that in this country a person has the right to make a profit.... And I hate to say that monies R made on others miss fortune...

Fly Rod, I agree with you that peopl ehave a right to make a profit. But this is the liberal hypocrisy. Because liberals are framing the entire 2012 election on their notion that wealthy people are "bad", and that wealthy people only got that way on the backs of poor people.

Liz Warren, in particular, has chastised the wealthy out of one side of her mputh, while herself engaging in some profiteering out of the other side.

Liberals are saying Romney was cruel for buying a company and selling it off, making large profits. But that's exactly what Liz Warren did with those foreclosed houses, albeit on a larger scale.

These people literally have no shame, and their hypocrisy knows no bounds. It's unbelievable.

[justplugit]

Originally Posted by spence

That loan was in 2000 when the average mortgage rate was closer to 8 percent I believe. The article is misleading...it also doesn't say if she underwrote or consigned the loan. If he was higher risk he might not have qualified for a good rate either...9.5 could have been a good deal for him.
Posted from my iPhone/Mobile device

Good observation, seems like interest rates have been so low for so long
9.5 % seems sky high.

[striperman36]

Originally Posted by Raider Ronnie

This #^&#^&#^&#^&ing piece of #^&#^&#^&#^& got 95.7 % of the democratic vote today.
More proof that people in Ma. are either #^&#^&#^&#^&ing brain dead or part of the #^&#^&#^&#^&ing liberal corruption machine !

Brain dead.. Where's my ebt card I can use with my ss disability to buy income property
Posted from my iPhone/Mobile device

[JohnR]

She's a hypocrite commie-pinko-slob from time to time but this doesn't create much issue. Lying to the diversity bullies is one thing, making a profit flipping houses in a down economy is another and isn't really bad. Just working a niche market.

Remember, the left had not yet cast into law that everyone should own a home, whether qualified or not, back in the early 90s.

[spence]

Originally Posted by JohnR

She's a hypocrite commie-pinko-slob from time to time but this doesn't create much issue. Lying to the diversity bullies is one thing, making a profit flipping houses in a down economy is another and isn't really bad. Just working a niche market.

Most of these sales seemed to occur in the middle 1990's, not exactly a down economy.

I love lines like this...

Providing her brother with a loan in 1997 to buy 901 NW 22nd St. for $90,000. He sold it some two years later for $106,000 — an 18 percent increase.

18% WHAT A MARGIN!!! And after expenses did it even turn a profit? That's not flipping...

Remember, the left had not yet cast into law that everyone should own a home, whether qualified or not, back in the early 90s.

Nope, they had to wait for Bush 43 and the "ownership society"

-spence

[likwid]

lol, capitalism.

Its completely hilarious to see born and bred republicans crying about someone flipping foreclosed homes.

Its like you guys actually care about those who lost their homes now AFTER you pretty much spent time blaming them for being foreclosed on and taking out loans they can't afford. Amazing.

[spence]

Originally Posted by likwid

Its like you guys actually care about those who lost their homes now AFTER you pretty much spent time blaming them for being foreclosed on and taking out loans they can't afford. Amazing.

Ba ba bingo.
Posted from my iPhone/Mobile device

[Sea Dangles]

Barney Frank robots.

[JohnR]

Originally Posted by spence

Most of these sales seemed to occur in the middle 1990's, not exactly a down economy.

-spence

Not all did - there was ups and downs and the economy wavered.

Yep - its Bush' fault.

[Jim in CT]

Originally Posted by spence

Most of these sales seemed to occur in the middle 1990's, not exactly a down economy.

I love lines like this...


18% WHAT A MARGIN!!! And after expenses did it even turn a profit? That's not flipping...


Nope, they had to wait for Bush 43 and the "ownership society"

-spence

Spence, you're saying that a profit margin of 18% is not high enough to get upset about? OK...so why do liberals incessantly attack health insurance companies, whose industry profit margins average about 5%, which is on the low side for American businesses?

[spence]

Originally Posted by Jim in CT

Spence, you're saying that a profit margin of 18% is not high enough to get upset about? OK...so why do liberals incessantly attack health insurance companies, whose industry profit margins average about 5%, which is on the low side for American businesses?

Gross margin not net. Nobody in their right mind would buy a house to flip if all they thought they'd make was 18% before expenses.

-spence

[TheSpecialist]

Originally Posted by spence

Gross margin not net. Nobody in their right mind would buy a house to flip if all they thought they'd make was 18% before expenses.

-spence

your assuming the guy put any money into it, maybe he just sat on it.

[Raider Ronnie]

Originally Posted by striperman36

Brain dead.. Where's my ebt card I can use with my ss disability to buy income property
Posted from my iPhone/Mobile device

Hook up with a liberal candidate.
Stand on a street corner holding their sign and if they win on November you should be in with a good tax paying job.
Posted from my iPhone/Mobile device

[striperman36]

Originally Posted by Raider Ronnie

Hook up with a liberal candidate.
Stand on a street corner holding their sign and if they win on November you should be in with a good tax paying job.
Posted from my iPhone/Mobile device

All right I'm in