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Brutal Comments and Honesty

I was featured on The House Bubble Blog with Attitude and received a flood of mostly angry comments. People are giving me a beating!

Yes I probably do deserve a beating. I made some bad moves as an investor and got over-extended. I also took advantage of liar loans.

However, some people are taking it a bit too far with obscenity and just pure HATE. I had to delete a few comments to keep this blog PG. I am all for honest feedback but lets be reasonable.

So I enabled comment moderation. And NO I am not trying to silence the critics. Anybody who has something helpful or honest (but not overly brutal) to say will receive my approval. As you can see from my blog I am not trying to hide anything.

Aside from the brutality, there has been a lot of good and constructive feedback. You can look through the different posts in the sidebar and check out the comments.

On the constructive side, I did receive some good advice from Osman, a real estate blogger in Colorado. Thank you.

It’s true I got into what some consider shady loans, also known as “liar loans”.

For more information, see this News Article on Liar Loans or just watch the Liar Loan video. (Now compare to this Wall Street Journal article on the Real Mortgage Fraud).

Yes, I lied on my loans, but shall continue to lie and hide??

No. I will be upfront about my activities. I’ll try to be careful to not blame anybody or anything and first figure out where I stepped over the line. Then I will talk about some of these things as I become more knowledgeable.

On this blog I will investigate the shady mortgage practices. I am NOT a Whistle-Blower. Needless controversy and criticism will NOT help anybody. I am only going to look at my own example.

Some future “honest” topics may include:

  • The truth behind stated income loans aka “Liar Loans”
  • What some mortgage brokers will tell you to make a quick commission check I would not blame mortgage brokers too much. Most are good people and are just selling the programs that the BANKS make available.
  • The truth about owner-occupied loans and the intent to occupy
  • The truth behind cash-back at close
  • Is buying, fixing and flipping houses wrong / illegal?
  • Does “flipping houses” cause housing inflation?
  • The consequences of not having a solid exit strategy or two.
  • The effects of the “Get Rich Quick” mentality in housing
  • How the Real estate Gurus teach you just enough to be dangerous Real Estate Gurus in my opinion didn’t cause me to become over-extended – it was my own fault.
  • When and why should you file for bankruptcy?
  • And more on my situation, selling houses quickly, foreclosure, short sales, subject-to, etc…
  • Did I miss something?

Hopefully people will learn from my mistakes and be positively encouraged by the way I handle it.

The Truth Hurts… as they say.

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