Booming Foreclosure Opportunity?

[David Merrill]

I got a look at this peculiar invitation:

[charlesa6]

Thanks for the info. They have one in rosemont center in Illinois last month. #5 is the one that worries me a little bit that 100% protect your asset from lawsuit including bankruptcy. Bankruptcy I don't see how you can get around that unless you want your petition to be dismissed or prosecuted for fraud failing to disclose all the assets.

#7 "Learn how to cash in trillion dollar forclosure" Sure why not, that is the way BB set it up to create economics diet strait for peoples to lose thier property, and people like trump to cash in the opportunities knock.

[David Merrill]

You are welcome Charles. #5 does sound a lot like a mythical silver bullet, I agree. It is likely an expensive trust system that like today's mortgages (foreclosure opportunity) is designed to fail tomorrow.

I find this Invitation a bit disturbing. I am not sure if it is that people are being encouraged to profit from the coming foreclosure flurry, or maybe that it will be a long, drawn out economic suffering and death for America. [It almost seems preferable to just collapse the dollar overnight.]

This invitation in the wake of news that illegal immigrants need only contribute, with falsified SSNs for 18 months for benefits and credit cards that no longer even need SSNs;

http://today.reuters.com/news/articl...src=rss&rpc=22

I think we may find that the illegal aliens will be somehow qualifying with extraordinary ease, to move into the foreclosed-upon properties. And all this happening within only a couple years from now.

I believe this is the account deficit in action that Alan Greenspan was warning us about after being encouraged by his resignation announcement.

http://www.federalreserve.gov/boardd...14/default.htm

Remarks by Chairman Alan Greenspan
Before the Banco de Mexico's 80th Anniversary International Conference, Mexico City (via videoconference)
November 14, 2005
Stability and Economic Growth: The Role of the Central Bank

International finance presents us with a number of intriguing anomalies, but the one that seems to bedevil monetary policy makers the most as they seek stability and growth (the topic of this conference) is the seemingly endless ability of the United States to finance its current account deficit.

http://www.federalreserve.gov/boardd...02/default.htm

But, as the latest projections from the Administration and the Congressional Budget Office suggest, our budget position will substantially worsen in the coming years unless major deficit-reducing actions are taken.

Regards,

David Merrill.

[RICKO]

OOPS!!! Duplicate post.

[RICKO]

Well to be honest with you, these people obviously know something we might not. I've been to one of Robert kiyosaki's seminars and he did actually make a lot of sense of what he was talking about. Donald and Robert sometimes tour together but that's usually for huge events I believe. I guess all you can do is take what you can get out of it and as soon as the seminars over run for the door. "Why" you ask? Well let's just say if you don't escape in time you will be coming out of there with a hand full of stuff and a hole in your wallet. Robert gets into how to eliminate a lot of the liabilities that effect us financially. Believe or not, if you have a home and you still pay a mortgage on that home it is considered a liability. You ask why it's a liability? Well anything that takes money out of your pockets( including seminars; I know first hand, sheesh!!!) is considered a liability. I can see the logic behind that. One of the biggest liabilities are brand new Cars in my opinion. Those suck the life right out of you. Just do the math. You have to pay full coverage on it, the interest for financing the car, the price of the car itself, and once your warranty is over forget it. Dig a hole and jump in it. If you have a foreign car(like me, 1996 Audi A-4 Quattro) things get a lot worse. The repairs are costly. I had one ball joint snap in my car and to repair both sides cost me $700.00. IF I HAD TAKEN IT TO THE DEALER IT WOULD HAVE BEEN A LOT WORSE!!!!! Anyway, as I was saying, These are some of the things these seminars might include. And as far as the forclosures go, it's a good thing for the one who thrives off of the deal, but the poor sap who opt to have a variable mortgage rate, is now kicking himself in the ass for taking that bait. Boy was that a scam. My brother called me to let me know he was buying a home. I was happy for him, but the minute he said he was going to get a variable interest rate on that mortgage I almost shot him!!! Fortunately for me, I just started to take a real estate course in college( Real Estate 105) and knew a little bit about that. I have my home lock in at a 6.00% interest rate. So in essence you do take a lot with out of these seminars, just makes sure it isn't to much books and Cd's. YOU WILL BE PAYING FOR IT!!!! I hope I didn't throw this thread off track. My apologies if I did.


RICKO

[David Merrill]

I think your post was quite helpful. Your point of view is appreciated.

My concern is that your brother is among an expected flurry of foreclosures set to happen in 2007.



Regards,

David Merrill.

[RICKO]

Originally Posted by David Merrill

I think your post was quite helpful. Your point of view is appreciated.

My concern is that your brother is among an expected flurry of foreclosures set to happen in 2007.



Regards,

David Merrill.

I might not have been on my brother's venture but he did not choose the variable rate option. He locked in at little more then 6.00% I came in just in time.

[charlesa6]

Originally Posted by David Merrill

I think your post was quite helpful. Your point of view is appreciated.

My concern is that your brother is among an expected flurry of foreclosures set to happen in 2007.



Regards,

David Merrill.

You are absolutelly right on the money. Adjustable rate in the long will drain your pocket book and wind up in foreclosure. The more you refinance the mortgage the more your equity is diminishing return.

[charlesa6]

Originally Posted by David Merrill

I think your post was quite helpful. Your point of view is appreciated.

My concern is that your brother is among an expected flurry of foreclosures set to happen in 2007.



Regards,

David Merrill.

You are absolutelly right on the money. Adjustable rate in the long will drain your pocket book and wind up in foreclosure. The more you refinance the mortgage the more your equity is diminishing return.

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