You can take anything I say with a "grain of salt"...but...

I'm the guy in the paid off luxury home, the swimming pool, the hot tub, the showhome that everyone wants to visit for Thanksgiving and Christmas. Credit cards paid off zero each and every month. How many of your friends can honestly say that? Not many I'm sure. Asset sheet as long as my arm. You should be so lucky. There's so much about sub-prime lending that you don't know and probably don't have a real interest in that I'd be wasting my time with you. The general media (which doesn't understand mortgage lending) has done such a snowjob on the lending market that we're all lumped in with Politicians and Car Salesmen now when the true causes were the borrowers themselves. They lied on their stated incomes. They lied on sources of income. No money to bring to the table, everything financed to the hilt. Stupid people who insisted on adjustables and interest-only loans because they had to have that house! And that's the only way they could buy that house! They bought too much house for the amount of payment they could afford...plain and simple. It's your own fault that you can't make the nut. Not a lender. People making $65K shouldn't even be looking at $245K homes...but they were. Government regulators insisted on lending to low-income minorities...now they lead the pack in foreclosures. Minorities have the absolute worst payback rate of any group. Who's fault is that? My fault? Their own fault, that's the answer. When you want a real education in wealth creation through real estate...send me a memo. Tweet