This blog posts about aviation, automobiles, electronics, programming, politics and such other subjects as catch my interest. The blog is based in northern New Hampshire, USA
Saturday, January 3, 2009
Today's Wall St Journal has a front page story "Would you pay $103,000 for this Arizona fixer-upper?" The photo shows a worthless shack, hardly big enough to house a German Shepherd. The story goes one to explain how a sleazy mortgage lender did a $103,000 mortgage with a divorced woman with drug and alcohol problems and no job, and then sold that mortgage to bigger suckers on Wall St. For for list price.