Posted on 03/21/2009 3:12:50 PM PDT by moneyrunner
Like all good members of the Liberal MSM the Virginian Pilot is outraged, OUTRAGED by the financial shenanigans of those greedy Wall Street bankers who got poor, unsuspecting home buyers to get in way over their heads. How dare they! Off with their heads – or perhaps strangulation with piano wire.
It seems that those greedy Wall Street types were aided and abetted by the good folks at the Virginian Pilot.
“How?” you say? Well, how did those poor innocents find out about those 100% financing, no-doc, no-money down mortgages with the low, low teaser rates that were never designed to pay off the mortgage, but only got the homebuyer deeper in the hole with every month that passed.
Why … they read about their opportunity of a lifetime in the Virginian Pilot.
...
In the middle of a financial melt-down cause by the explosion of a world-wide real estate bubble, the Virginian Pilot – in its own little way - decides to throw gasoline on the inferno destroying the global financial markets. The ad below has run numerous times and is paid for by Franciscus Homes in Virginia Beach.
Note the terms:
100% financing (no money down so the buyer who cannot afford a down payment can buy a house starting at $249.990!)
A “teaser” mortgage rate of 3.0%. Anyone who can fog a mirror knows that his is not a market rate and is either an adjustable rate or a reverse amortization mortgage (the amount you owe GROWS each month instead of declining).
If you can’t even afford closing costs - no problem - the builder offers $5000 toward closing!
Act Now! Sure, and Arbeit Macht Frei!
(Excerpt) Read more at moneyrunner.blogspot.com ...
Yeah obviously it only the liberals that are upset about the AIG bonuses...
You’re own self interest isn’t a motivvator...
What's your self interest in seeing the AIG employees get taxed at 90%. How does that benefit you?
?Uhhh return of tax revenue?
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