[Kitsune]

Originally Posted by jbt

I believe that part of the problem was that people were using subprime loans, i.e. no down or higher than the normally accepted income multiplier, as a way to invest in homes.

You think?

I'm a 24 yr old "would-be real estate mogul" from Sacramento CA. After going to a few seminars I bought 8 houses in 8 months in 4 states with no money down looking to fix 'n flip. I made some mistakes and am now millions in debt, trying to avoid foreclosure, sell quickly, repay everyone, and share my lessons to help others in trouble.