Thread: WAMU gives IA $615,000 mortgage he makes $9.00 an hr

Originally Posted by zeezil

Originally Posted by caasduit

I have been hearing that LA RAZA will be getting some sort of money hand out in this bail out situation, are we looking into this??

ACORN, and probably La Raza will get 20% of any paybacks that come back to the U.S. Treasury as a result of this bailout.

CALL FAX AND EMAIL.....NO BAIL OUT FOR CROOKS!!!!

Here is the general rule for responsible lending: The loan commitments of an individual/couple should never exceed two times the annual income.

This guy couldn't even afford to pay the utilities for that house.

Ions ago when I was married to a Dr., I remember looking for homes and all that. We went by that rule as well and even then, they pressured us to go higher. Heck at the time we were brand new to the whole thing and didn't even have an annual income to report yet.....only a guesstimate. We were told.....when you have to have it.....somehow people always manage to come up with it. They took out some calculation tool that said he should have some % of pay increase per year and all that, on down the line. Barring of course if everything worked perfectly according to plan. Fortunatly it did pan out, except for the marraige.......but that was before out-sourcing and part time jobs and low pay....and a sexy patient. It wasn't a secure time, but alot more stable than now.

Using that scale....reality speaking.....way, way too many can't afford rent.......let alone home ownership and all it's hidden expenses.

This is outrageous! An illegal alien makes $9 an hour and gets a loan from Washington Mutual for $615,000! NO WONDER WAMU FOLDED.

But look who is going to be left with his loan. We are, and with interest on top.

The people responsible for lending that Mexican over $600 thousand ought to be imprisoned for a long time. And I know that the Mexican only had a 6 grade education, but COME ON! A 5th grader could tell you that someone making $9 an hour cant afford a loan for that much!

IMO, that Mexican is PLAIN STUPID.

Just wonder if this Carlos Lares, who showed Aviles these homes (assuming they all were for sale) had a real estate license or a mortgage broker's license, because I know that many states are pretty strict about that, especially Florida, known as the carpet-bagger state.
Years ago, I know immigrants were scamming new arrivals with the home ownership game including in Cape Coral, a man sold his home to new immigrants for cash. Unfortunately this man did not own the home--just rented it.

[quote]“They’re not really sure what they were promised, so they don’t know if they were cheated,â€

Relying on the broker's word, he signed loan documents written in English, a language he neither speaks nor reads, Aviles said. He was shocked to learn afterward that the monthly payment would not be $3,600, but $4,800 -- a price that forced him to rent out bedrooms, the garage and an enclosed porch while he and his wife slept on the couch. He fed his family with food from friends and corn he grew.
...

Like this wasn't the plan all along. Could you imagine this third world retard moving next door to you.

I'm not that intellegent but I can tell that this bailout is a bad deal. I DO NOT WANT TO BUY BAD DEBT!!!

I think the lenders, the real estate people are all criminals.

It's just me, though, but I'm thinking a poor man making $9 an hour from Mexico, sorta knows just how much $615K is. He knows it's more than a fortune for him.

They all were scamming, and we are getting paid for it.

Originally Posted by nntrixie

I think the lenders, the real estate people are all criminals.

It's just me, though, but I'm thinking a poor man making $9 an hour from Mexico, sorta knows just how much $615K is. He knows it's more than a fortune for him.

They all were scamming, and we are getting paid for it.

Yeah, I'm not buying that poor uneducated illegal didn't know any better. Take responsibility for your mistakes! Actually, that invader KNEW that he shouldn't be in the country in the first place. What the heck was he doing buying a home here. I'm tired of picking up the tab for all these invaders! I have no sympathy for them...NONE!!

Renting the rooms out in the house.

WHERE DO YOU START HERE? THE FACT THAT HE IS AN INVADER? THE FACT THAT HE CAN'T READ ENGLISH AND IS TAKING OUT A LOAN FOR $600,000 AND MAKES $9.00 AN HOUR ($18,000 A YEAR...)? THE FACT THAT HE IS NOW RUNNING A FLOP HOUSE FOR INVADERS AND BREAKING FIRE MARSHAL CODES, HEALTH CODES, LOCAL COMMUNITY CODES? I MEAN, WHERE DO YOU START?

That was his plan the whole time. So five people working and contributing; and renting out rooms rotating schedule of 8 hr sleep shifts.