Mortgage Crisis A-Go-Go
Check out Friday's column here.
In writing about the crazy situation Makra Opoku finds herself, I didn't get into one thing: the amount she paid for her Darby Township home in the first place.
According to the deed, she paid $240,000 for the Sharon Avenue house, which she purchased from "friends" who were also from Liberia. They, however, bought the 5-6 bedroom home just a few years earlier for $20,000.
Did they really fix up the property enough to justify the $191,000 mortgage she was granted by the mortgage company?
If the mortage company forecloses will it get anything close to that? Not from what I saw. No wonder there's a mortgage crisis in America.
In the meantime, I look forward to hearing from Gennaro Rauso, the "self taught paralegal" and real estate genius who stuffed 11 squabbling tenants in the house to... well, just read the column.
In writing about the crazy situation Makra Opoku finds herself, I didn't get into one thing: the amount she paid for her Darby Township home in the first place.
According to the deed, she paid $240,000 for the Sharon Avenue house, which she purchased from "friends" who were also from Liberia. They, however, bought the 5-6 bedroom home just a few years earlier for $20,000.
Did they really fix up the property enough to justify the $191,000 mortgage she was granted by the mortgage company?
If the mortage company forecloses will it get anything close to that? Not from what I saw. No wonder there's a mortgage crisis in America.
In the meantime, I look forward to hearing from Gennaro Rauso, the "self taught paralegal" and real estate genius who stuffed 11 squabbling tenants in the house to... well, just read the column.
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home