Since Vetteman lost another debate and is too much of a pussy to admit he's wrong

Let's remind the entire world of how fucked up stupid he really is.

Vetteman said:

https://forum.literotica.com/showpost.php?p=21844146&postcount=25

Yeah right. You go ahead and panic rookie, I'll come out of this smelling like a rose because I've been through it all before. I'll just sit back and buy some more stock while you do your Chicken Little act.

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LovingTongue said:

https://forum.literotica.com/showpost.php?p=21843789&postcount=24

There were people who got rich off the Great Depression.

By your logic that means there was no need for alarm when investors were jumping off bridges and the whole nation's economy was going into the shitter.

Clue brick, dude. Housing investors are in a panic. People who couldn't afford a normal, small house and who had to take out subprime loans to get one, are next to fall. There's great cause for alarm for a lot of people.

Elitist shitsacks like you who live in your mommy's basement safe and sound from all the ruckuss, don't think there's a panic because you're sheltered. But that doesn't make it not a panic.

As for what I plan on doing, well we plan on buying a few alligators from some distressed investors and putting them up for rent-to-own. I'll make money off that, indeed, but I'll be giving more people an actual shot at home ownership.

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A) I pointed out that I'm going to make money off of this while putting housing into reach for people who can't afford it now. That means you are a liar when you say I'm panicking.

B) You are also lying because you have been presented overwhelming proof that this is not Chicken Little false alarming for investors and home buyers who had to resort to subprime loans to buy houses, nor is it false alarming for the loan companies now going out of business.

Nothing I said was wrong, which no doubt explains why you chickened out like a little boypussy like you always do when you try to debate me.

You were proven wrong and now, as usual, you're not man enough to admit it.

This is a noble thing you are doing and you certainly deserve a lot of credit for thinking of it.

I was wondering, if sub-prime borrowers can't pay their house note to sub-prime lenders, how will they be able to pay you?

Are your houses going to rent for below market rates?

bronzeage said:

This is a noble thing you are doing and you certainly deserve a lot of credit for thinking of it.

I was wondering, if sub-prime borrowers can't pay their house note to sub-prime lenders, how will they be able to pay you?

Are your houses going to rent for below market rates?

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My guess is he's counting on the people who lost to the subprime lenders lost because of the bad ones who fucked people over the too-good-to-be-true mortgages. People who can pay normally but got suckered in and couldn't get out for whatever reason.
Just a guess, haven't read all the threads and posts on this subject.

KRCummings said:

My guess is he's counting on the people who lost to the subprime lenders lost because of the bad ones who fucked people over the too-good-to-be-true mortgages. People who can pay normally but got suckered in and couldn't get out for whatever reason.
Just a guess, haven't read all the threads and posts on this subject.

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Hi risk loans always come with higher interest rates and fees. If you take a mortgage that is labled sub-prime, its not the best deal in town, but its the best you could get.

If you are paying your notes, nobody cares if the company you borrowed from is in trouble. If you can't pay your notes, thats why your loan company is in trouble.

I work with an organization that lends to sub-sub-prime borrowers. The interest rates are below market and construction costs are subsidised to keep building costs below market. Mortgage payments are scaled according to income and we still have people who face foreclosure every once in a while.

bronzeage said:

This is a noble thing you are doing and you certainly deserve a lot of credit for thinking of it.

I was wondering, if sub-prime borrowers can't pay their house note to sub-prime lenders, how will they be able to pay you?

Are your houses going to rent for below market rates?

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They will be paying a standard rent to own rate, which is above rent but below what would be paid if you were doing a traditional fixed rate mortgage.

We're going to run the numbers on each individual house when we start in 2 months. That should be when prices dip the most.

The problem is, the distressed properties in the hands of homeowners who are in their new house and are trying to sell the old ones, are the lowest hanging fruit, and it's fairly moral to lowball them. The distressed investors are the most kosher prey, but they're the next lowest hanging fruit: banks are not going to dump foreclosed properties as easily as people think. Some banks are trying to avoid short selling by even letting financially distressed people pay, say $1500 now on a $1750/month loan, with the expectation that they'll catch up on it later. But still, there are investors with alligator mortgages that are dangling low enough to get picked off.

My wife and I are also paying cash. Banks will take cash. We can get prime rate fixed mortgages on a house if we need to. We can buy 3 average houses on hard cash. The problem is maintenance, prop manager fees, prop taxes, etc.

You can tell we still have a lot of numbers to run, but we have the cash, and it looks to me like cash carries right now.

Bump, since Vetteman is cowering in fear of me.

Isn't it only like 13% of those with the sub-prime rates that are defaulting though? That doesn't sound too scary to a lay person.

SleepingWarrior said:

Isn't it only like 13% of those with the sub-prime rates that are defaulting though? That doesn't sound too scary to a lay person.

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There's $1 trillion in subprime loans out there. ~$300 billion are predicted to default this year. Subprime loans have swollen to 20% of the loan market.