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Mike ashley trouble?
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Prestaged
Nitro Member
I guess I am showing my age here, but what benefit would a web site be to flipping houses?
r2
Nitro Member
I would think if you are GOingSOCIAL , that one would be able to simply click on any of the sites adorning the wrap, and see what is funding the ride, and see what it is they are trying to sell.
Maybe I'm the old one ...
JUSTIN ASHLEY TO DRIVE DAVIS MOTORSPORTS TF DRAGSTER | Competition Plus
Second generation driver, 24-year-old Justin Ashley, will advance in the next steps of his career behind the wheel of a Top Fuel dragster with Dustin Davis and the Davis Motorsports team by his side. Shifting gears to Top Fuel came as more of a surprise to Ashley than it did to most avid fans of...
Jimbo
Nitro Member
Being in the appraisal business at that time I can tell you that in late 2005 I saw the foreclousres starting to increase here in Florida.
Many of the largest Wall Street firms started to realize that the loans with the highest ROI were the loans made to people with poor credit histories. They then started to contact every mortgage company in the counrty and told them they wanted to purchase the worst loans they had on the books.
Once they bundled about 10,000 of these loans togther they went to companies that rate loans from A on down to the lowest and worst loans and tried very hard to get them classified as AAA loans and when that did not happen they got the bright idea of mixing some good loans in with the bad loans and that is how they convinced the rating agenices into rating the loans higher so they could sell them to countries like Norway and others as a great investment with high interest rates of return.
The crazy part is while many Wall Street firms they were selling these loans to countries around the world they were also wall street buying shorts on the loans to profit when they realized they had bad sold a pile of crap!
They were called Trenchs and Derviates and many people in these countries realized the loans they had purchased were also defaulting at record rates because of the drop in homes values.
Therre were many people to blame from Wall Street to mortage companies like Lend America and Country Wide who were playing the games with the numbers and changing things after the comsumer had signed the loan papers.
As an appraiser I can tell you I received many calls asking me about a certain apprisal I did on a home where someone changed the value on a locked report in order to get a loan.
Please keep in mind this was not done by the consumer who had applied for the loan!
Jim Hill
www.nostalgicracingdecals.com
Many of the largest Wall Street firms started to realize that the loans with the highest ROI were the loans made to people with poor credit histories. They then started to contact every mortgage company in the counrty and told them they wanted to purchase the worst loans they had on the books.
Once they bundled about 10,000 of these loans togther they went to companies that rate loans from A on down to the lowest and worst loans and tried very hard to get them classified as AAA loans and when that did not happen they got the bright idea of mixing some good loans in with the bad loans and that is how they convinced the rating agenices into rating the loans higher so they could sell them to countries like Norway and others as a great investment with high interest rates of return.
The crazy part is while many Wall Street firms they were selling these loans to countries around the world they were also wall street buying shorts on the loans to profit when they realized they had bad sold a pile of crap!
They were called Trenchs and Derviates and many people in these countries realized the loans they had purchased were also defaulting at record rates because of the drop in homes values.
Therre were many people to blame from Wall Street to mortage companies like Lend America and Country Wide who were playing the games with the numbers and changing things after the comsumer had signed the loan papers.
As an appraiser I can tell you I received many calls asking me about a certain apprisal I did on a home where someone changed the value on a locked report in order to get a loan.
Please keep in mind this was not done by the consumer who had applied for the loan!
Jim Hill
www.nostalgicracingdecals.com
Prestaged
Nitro Member
I would think if you are GOingSOCIAL , that one would be able to simply click on any of the sites adorning the wrap, and see what is funding the ride, and see what it is they are trying to sell.
Maybe I'm the old one ...
JUSTIN ASHLEY TO DRIVE DAVIS MOTORSPORTS TF DRAGSTER | Competition Plus
Second generation driver, 24-year-old Justin Ashley, will advance in the next steps of his career behind the wheel of a Top Fuel dragster with Dustin Davis and the Davis Motorsports team by his side. Shifting gears to Top Fuel came as more of a surprise to Ashley than it did to most avid fans of...www.competitionplus.com
Understood. I just don't see how a web site is going to help him sell houses. That is a very local thing -- touch and feel. You can #fixflipfuel and get to his Instagram page, or you can @thejustinashley and get to his twitter page. That is the graphics stuff he has on the artists's rendering. That is apparently what he is trying to accomplish. He is flipping houses to fund a top fuel car. He is not running a top fuel car to flip houses.
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Nick Name
Nitro Member
Started during the Clinton years. Banks were required to make those loans. They were called NINJA loans "No Incoime No Job Applicants."
r2
Nitro Member
Thanks Roger,
I found what I was looking for going back in the Ashley history book of ruin. You may not understand how a website would help sell homes, yet I don't know of anyone who sells homes who doesn't have a website. This may come as a shock to a few, but take a look at what has been going on for a very, very long time and it may raise a few eyebrows on the local, touch and feel view you reference. You don't even need to be a citizen or step foot on US soil to own all the homes someone may want.
I don't normally ask a question that I don't already have the answer for. It's too get others to think.
www.google.com
I found what I was looking for going back in the Ashley history book of ruin. You may not understand how a website would help sell homes, yet I don't know of anyone who sells homes who doesn't have a website. This may come as a shock to a few, but take a look at what has been going on for a very, very long time and it may raise a few eyebrows on the local, touch and feel view you reference. You don't even need to be a citizen or step foot on US soil to own all the homes someone may want.
I don't normally ask a question that I don't already have the answer for. It's too get others to think.
Foreigners snap up record number of US homes
The jump in international purchases follows a year-ago retreat and comes as a surprise, given the current strength of the U.S. dollar.
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I always get mail from people who "want to buy my home", cheap. They flip the house & move on. Also have one company that lets you go on line if you want to look at a house for sale. Then they give you a code to open the lock box and in ya go. Some druggies in our area found out about it & stay in the house & trash it. Arghhhhh
stitcherbob
Nitro Member
Fruit falls when it’s rotten, usually....
Rajunz
Nitro Member
I dunno, Mike Ashley's dad also served time for fraud in the Mortgage Industry. Just saying!
BusinessWeek Exposes the New Subprime
archives.cjr.org
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Jimbo
Nitro Member
Lend America and Country Wide were two of the worst companies when it came to changing things on lending applications from the amount of income to many other things.
When Allan Greenspan realized what was going on it was to late to do much about it.
Why did no one step in and raise interest rates? Simple answer is no one wanted to see the party end.
Jim Hill
www.nostalgicracingdecals.com
When Allan Greenspan realized what was going on it was to late to do much about it.
Why did no one step in and raise interest rates? Simple answer is no one wanted to see the party end.
Jim Hill
www.nostalgicracingdecals.com
Dennis
Nitro Member
It's not just that, Justin's A/FD's sponsor is 1800Cashout. If you follow the money on the NY Secretary of State website the company and related entities show Mike's wife as the principal. So even after all he's been through, he's still at it, same field.
Jimbo
Nitro Member
Ray Ghio Jr.:
Your post was the following, It's not just that, Justin's A/FD's sponsor is 1800Cashout. If you follow the money on the NY Secretary of State website the company and related entities show Mike's wife as the principal. So even after all he's been through, he's still at it, same field.
Maybe he still has not learned his lesson or maybe he just does not care as long as he is making millions!
Jim Hill
www.nostalgicracingdecals.com
Your post was the following, It's not just that, Justin's A/FD's sponsor is 1800Cashout. If you follow the money on the NY Secretary of State website the company and related entities show Mike's wife as the principal. So even after all he's been through, he's still at it, same field.
Maybe he still has not learned his lesson or maybe he just does not care as long as he is making millions!
Jim Hill
www.nostalgicracingdecals.com
r2
Nitro Member
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Prestaged
Nitro Member
Glad I could help.
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