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>   
>   On Mon, Sep 22, 2008 at 7:40 AM, Dawn wrote:
>   
>   Amen! 30% of homes in Riviera Beach are in foreclosure because mortgage
>   companies wrote loans to anyone with a heart beat. We are now stuck with
>   three fairly new housing developments along Congress Avenue that are quickly
>   turning into ghettos.
>   

Hi Dawn, good to hear that from someone on the inside!

Somehow the mainstream has mysteriously ignored the prime role of fraudulent applications, loan officers working on a commission basis, etc. all to make loans by misleading the lenders and the ratings agencies.

>   
>   Do you think banks would be amenable to providing low money down/low
>   interest rate mortgages to municipal employees with at least a five year
>   employment history, proper credit, etc? Mortgage payment could be deducted
>   from pay checks. This would allow police officers, firefighters, etc to have a
>   vested interest in the community and help the banks get the real estate off
>   their books.
>   

Yes, I don’t see why not?

They are still in business to make profits by making loans to credit worthy borrowers. Try speaking to the local lenders and mortgage bankers?

Thanks!

Warren

>   
>   Thx
>   
>   Dawn
>   


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