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How to Borrow Your Way into a Short Sale

Sometimes I feel like there should be a Hall of Shame for the greedy bums who helped destroy this country’s economy by taking out crazy loans – I don’t buy for a minute that people didn’t know they were borrowing more than they should.

Here’s a short sale – I’d like to think some financial mishap occurred that caused them to need to take out a second and third mortgage or HELOC themselves to death – like maybe they had big medical bills. Maybe.

Most people just used their houses like ATMs. This short sale is in one of the nicest parts of Culver City. The tax bill indicates they’ve owned it a long time – otherwise it would be mighty high at this price.



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