Michael Kelly
Frank W. Your 15314 brought back to me a flood of memories. The Legislation that brought about the "Even some one With No Money' can get a Home Loan, like the Earl Scheib Car Paint Job for 100 bucks, Barney Frank, of the Basement Male order Companion Club ran from his Basement by his "Partner" whose last name was Moses, and a Senator Chris Dodd, who rammed through the Legislation that Forced Banks and other Loan Institutions who received Federal Funds to make the No Money Down Home Loans to our Friends from 3rd World SHoles, as Trump calls them. You had to make Minorities Loans, Period. Soooooo, the Banks etc. made these Loans and Bundled them together with Good Paying Paper to Sell in Bundles like Stocks in Corporations, and Investers were encouraged to "Snap them Up" which many did. As everyone In the Country could get Credit to buy a house, the Visitors from other Countries, got loans and bought houses based upon just the status of being a Minority, would sit on the house and never make a payment. They would sell the house based upon the increase in value after 3 to 6 months, harvest the Equity, and Rinse and Repeat each time at a profit. Finally the Market crashed, as was predictable, and houses fell th 50 % of their value. Buyers stayed and had to be evicted after Foreclosure. In the Antelope Valley, I had to have handled Post Foreclosure Evictions at a rate of 10 to 12 per day, and did a total of over 3500 in 3 years.
I know of one Man whose daughter handled his Person and Estate as his Conservator, and She created a personal Value for him by creating totally False Real Estate Holdings for her Father, and borrowed 600 K dollars on his Credit supposedly, then bought a house worth several millions of dollars, she and her Siblings never made a payment for their Dad, and they lost the House through Foreclosure. She then wanted to sue the Loan entity for Fraud, which she helped Create. These fraudulent transactions were commonplace between 2007 and 2011 when the Market just crashed so bad that some Mortgage Companies went Bankrupt.
Barney Frank, a Congressman from Massaschusetts, and Chris Dodd, a Senator from Connecticut or somewhere, buth have passed on. Frank was one of the first openly Gay Fed. Legislators, and Chris Dodd, Senator, was a big buddy to Ted Kennedy, of the Ted Row the Boat Ashore days.
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