Sunday, July 24, 2011

$16.00 for a $300,000 + home; ONLY IN TEXAS?

You guys absolutely MUST read this article
about a man in Texas, who spent 3 years researching the law
and finding exactly the right property.

In Texas we have many very old laws still on our books, and this is one
of them.  I admire the tenacity of this gentleman to find a way around the
foreclosure problems which are rampant across the USA.

A seemingly abandoned house now has someone living there who needed a 
home and will take care of the property.  My only problem with this is the
poor family who walked away.  Maybe if they had stayed, the mortgage company
would have been defunct, and they would still have a home.  

Somehow, I find it terrible that all the financial institutions were made to
write down their MBS's (mortgage backed securities), but the
homeowner's who owed the money have not been cut any slack.

How could this be right?

To my American readers, please try to watch
Dylan Ratigan
on MSNBC 3pm Central trime.

He is the ONLY newsperson who understands what has happened to
our country and is actually trying to do something about it.