On 26 Jul 2004 05:26:56 GMT, (Gould 0738) wrote:

[snip]

And lastly, see if you can figure out who is making mortgage loans for 1/2
million dollar homes to welfare recipients. I seriously doubt that any of your
local banks are doing that. (Bank loans are subject to regulatory
audit....nobody is going to approve making a RE loan to a loosely assembled
group of welfare recipients). If you *should* find a local bank making half
million dollar mortgage loans to people on welfare, either borrow as much as
you can as fast as you can from them or get every last dime of your money
transferred somewhere else. :-)

I know a few things about the mortgage business.

Apart from qualifying from a creditowrthiness standpoint, "group ownership"
won't make it past any underwriter.

While it is not all that hard to finance real estate to 100% of its value, doing
so on a welfare check is just not going to happen. To buy the aforementioned
$549,000 house, a borrower would have to document $8,500 per month in
income--assuming that individual carried no other debt.

Joe Parsons wrote:

On 26 Jul 2004 05:26:56 GMT, (Gould 0738) wrote:

[snip]

And lastly, see if you can figure out who is making mortgage loans for 1/2
million dollar homes to welfare recipients. I seriously doubt that any of your
local banks are doing that. (Bank loans are subject to regulatory
audit....nobody is going to approve making a RE loan to a loosely assembled
group of welfare recipients). If you *should* find a local bank making half
million dollar mortgage loans to people on welfare, either borrow as much as
you can as fast as you can from them or get every last dime of your money
transferred somewhere else. :-)

I know a few things about the mortgage business.

Apart from qualifying from a creditowrthiness standpoint, "group ownership"
won't make it past any underwriter.

While it is not all that hard to finance real estate to 100% of its value, doing
so on a welfare check is just not going to happen. To buy the aforementioned
$549,000 house, a borrower would have to document $8,500 per month in
income--assuming that individual carried no other debt.



Well, no one says John Herring knows anything more about mortgage
financing than he knows about anything else. The hard-working Mexicans
down the street probably look with disdain at Herring, his whitebread
family, and the little sign on the front lawn that says "Whites Only."

--
A vote for Nader is a vote for Bush;
A vote for Bush is a vote for Apocalypse.

"Don White" wrote in message
...

"Bert Robbins" wrote in message
news


I thought there were laws about Internet stalking.


Not this case Bertie...more like a 'public service'.

Tell that to the judge!

"Don White" wrote in message
news

"NOYB" wrote in message
nk.net...

Naples has pretty strict and well-enforced ordinances against cars
parked
in
yards, and too many people living in one single-family residence. I
guess
that's why I don't see what you see as often as you see it.

We have strict rental property ordinances as well. Perhaps you need to
address this with your county commissioners?


Isn't that Jim Dandy.....keeps those pesky foreigners at bay! No dirtying
up
your nice tidy little city.



Called zoning. Keeps those pesky capitolists from building a chemical plant
next door to your house. Oh, that's right. You are in Canada, they let you
build anything you want, anywhere.

NOYB wrote:

I have to side with Harry on this one.

Quick! Send some overcoats to Hell. I believe it just froze over. We can
probably get a bulk rate shipping them via flying pig.

John H wrote:

The folks that live in the houses are not the ones purchasing the homes. They
appear to be renters.

But yesterday he wrote:

Chuck, within three blocks of my house are six houses which have been
purchased
by Mexican families, extended families! In each yard and driveway are from
six
to nine automobiles and/or pickups. The house next to me sold for $549,000
last
month. With four or five family groups (or singles) putting their incomes
(welfare checks?) toward the mortgage, they can qualify for a loan.

Have you considered running for public office? :-)

"Calif Bill" wrote in message
news


Called zoning. Keeps those pesky capitolists from building a chemical
plant
next door to your house. Oh, that's right. You are in Canada, they let
you
build anything you want, anywhere.


Not In My Back Yard!

"Gould 0738" wrote in message
...

Quick! Send some overcoats to Hell. I believe it just froze over. We can
probably get a bulk rate shipping them via flying pig.


We always said that if we could get Dr. No away from his questionable
associates (GOP) aand with some quality de-programming time, there may be
some hope for him.

"Don White" wrote in message
news

"NOYB" wrote in message
nk.net...

Naples has pretty strict and well-enforced ordinances against cars
parked
in
yards, and too many people living in one single-family residence. I
guess
that's why I don't see what you see as often as you see it.

We have strict rental property ordinances as well. Perhaps you need to
address this with your county commissioners?


Isn't that Jim Dandy.....keeps those pesky foreigners at bay! No dirtying
up
your nice tidy little city.

Jim Dandy is one of many names used by basskisser.

"Calif Bill" wrote in message
news

"Don White" wrote in message
news

"NOYB" wrote in message
nk.net...

Naples has pretty strict and well-enforced ordinances against cars
parked
in
yards, and too many people living in one single-family residence. I
guess
that's why I don't see what you see as often as you see it.

We have strict rental property ordinances as well. Perhaps you need
to
address this with your county commissioners?


Isn't that Jim Dandy.....keeps those pesky foreigners at bay! No
dirtying
up
your nice tidy little city.



Called zoning. Keeps those pesky capitolists from building a chemical
plant
next door to your house. Oh, that's right. You are in Canada, they let
you
build anything you want, anywhere.

That's what happens when so few people decide to move to a country that only
3 people occupy every square kilometer.