>
> On Mon, Sep 22, 2008 at 7:40 AM, Dawn wrote:
>
> Amen! 30% of homes in Riviera Beach are in foreclosure because mortgage
> companies wrote loans to anyone with a heart beat. We are now stuck with
> three fairly new housing developments along Congress Avenue that are quickly
> turning into ghettos.
>
Hi Dawn, good to hear that from someone on the inside!
Somehow the mainstream has mysteriously ignored the prime role of fraudulent applications, loan officers working on a commission basis, etc. all to make loans by misleading the lenders and the ratings agencies.
>
> Do you think banks would be amenable to providing low money down/low
> interest rate mortgages to municipal employees with at least a five year
> employment history, proper credit, etc? Mortgage payment could be deducted
> from pay checks. This would allow police officers, firefighters, etc to have a
> vested interest in the community and help the banks get the real estate off
> their books.
>
Yes, I don’t see why not?
They are still in business to make profits by making loans to credit worthy borrowers. Try speaking to the local lenders and mortgage bankers?
Thanks!
Warren
>
> Thx
>
> Dawn
>
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