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Thread: Stocks dive on subprime mortgage worries

  1. #31
    Elite Member louiswinthorpe111's Avatar
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    I am not buying properties in slums, because you can't find people that want to live there. In general, I purchase the worst house in middle class neighborhoods. Houses that were once nice but TRASHED. Holes in walls, faulty wiring, bad mechanicals, FILTHY (in one, the toilet was Black). Each time, the neighbors came over, told us how happy they were we were there, checked on the progress. Because improving this house, improved their neighborhood and their property values. Some houses I've made money on, some I broke even on, and some I lost money on.

    And just to answer what do I do to help people who are getting foreclosed on. I do help them. I am currently working with John and Jane Doe (Obviously, not their real names). They wanted to re-finance their home from an ARM. However, they failed to tell me that they were 90+ days behind on the mortgage and going into foreclosure. At this point, there's nothing I can do. I do have a network of investors who I work with. Once of these investors has negotiated with the bank to purchase the Doe's house. He is then selling the house back to the Doe's on contract, and then after they get back on their feet, they can refinance back in their name. He's not inflating the price, it will be the same amount that they owe now, and they get to keep their house. He will make a small amount of money on it and will get the tax benefits, and John and Jane Doe are very grateful. But I guess I am a greedy, heartless person that only cares about money and the bottom line.

    I do find it extremely offensive for someone to question my ethics and morals, based on their experience with other people, rather than know anything about me and what I do to help my clients that are in trouble.

  2. #32
    Hit By Ban Bus! pacific breeze's Avatar
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    I'm curious as to why you took my very general initial remarks that were not directed at anyone in particular and reacted to them as though they written to you specifically? Your response was hostile to me personally, even though my post had nothing to do with you in particular. I was not questioning YOUR ethics and morals, I was stating my opinion of the situation in GENERAL.

    In your response you talked about poor neighbourhoods -- that is what I based my next response on. I am not a mind reader. I have no idea who you are or what you do or who your clients are and the details of their situation. How would I?

    I can only go on what you post. You seem like you want to take offense very badly, even though I was stating MY opinion and it was not directed at you or anyone else specifically.

    I am happy you are doing good things for your clients, but that was very hard to infer from your posts. I've never had any interaction with you on this board. I'm wondering why you think I would suddenly "take you on" over an opinion that I have held for decades longer than I have ever "known" you.

    I guess from now on in any thread that you are involved in, I will provide a disclaimer on all my posts stating that you are exempt from anything I might say, no matter how general it is in nature.

  3. #33
    Elite Member louiswinthorpe111's Avatar
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    First, I would like to state the reason why I took offense and thought your comments were directed at me because when I post to another member about the how-to of flipping, you post directly under me stating that flipping is "morally and ethically questionable." One would then conclude that you are calling my actions as morally and ethically questionable.

    Second, I didn't state that I only buy in poor neighborhoods. I said I purchase foreclosed homes that were "blights in their neighborhoods." Therefore, to say you only "go on what I post," would inaccurate, because you jumped to your own conclusions.

    Third, I do not get offended easily. I get offended by people questioning my morals, work ethic, and intention as I think anyone would. Insluts on celebrities do not offend me, just insults that I feel are personally directed at me.

    Fourth, I do not have any intention of "taking you on." What is this, West Side Story? When I feel I am being personally attacked, I will fight back, guaranteed.

    Fifth, I do not think this needs to go on any farther and call a truce.

  4. #34
    Hit By Ban Bus! pacific breeze's Avatar
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    I did not personally attack you. I did not question your work ethic, morals or intentions as I had absolutely no idea what they were. Other people were also talking about flipping, amongst other things, in the thread. My post just happened to follow yours. I will be careful not to follow a post of yours again, or delete my post and re-post it if it happens accidentally. I do not want to go through this again.

    I never did like West Side Story, what I remember of it, but a truce is fine by me.

  5. #35
    Elite Member louiswinthorpe111's Avatar
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    Quote Originally Posted by pacific breeze View Post
    I will be careful not to follow a post of yours again, or delete my post and re-post it if it happens accidentally. I do not want to go through this again.
    That's not necessary. I will just assume you are making a general statement.

  6. #36
    Elite Member moomies's Avatar
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    (new and improved method of no-harm intervention here)

    If you think it's crazy, you ain't seen a thing. Just wait until we're goin down in flames.

  7. #37
    Hit By Ban Bus! pacific breeze's Avatar
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    It's all good, Moomies. It was a misunderstanding.

  8. #38
    Elite Member JamieElizabeth's Avatar
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    The world is full of misunderstanding... guess it's better to figure that out on a web forum, eh?

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