[Hydroshock]

I was talking to a friend of mine at work. This story is second hand. But if something similar to this has not happened and will happen a lot soon I will eat my hat. He has a sister who lives in LA. A neighbor bought a house in 2001. They are from Mexico. They decided for several reasons to move back. They took out the biggest home equity loan on their house they could, maxed out their credit cards with cash advances, bought a new ford F350, and a new Cadillac Escalate. They then loaded up what they were goign to take in a couple of trailers and went back to their families small ranch in Mexico. The walked with over $200k in cash.

[VxH]

[They are from Mexico. They decided for several reasons to move back. They took out the biggest home equity loan on their house they could, maxed out their credit cards with cash advances, bought a new ford F350, and a new Cadillac Escalate. They then loaded up what they were goign to take in a couple of trailers and went back to their families small ranch in Mexico. The walked with over $200k in cash.]

 

 "We have Nicaragua, soon we will have El Salvador, Guatemala, Honduras, Costa Rica and Mexico. One day, tomorrow or 15 years from now, we're going to take 5 to 10 million Mexicans and they're going to have one thing in mind - cross the border, go into Dallas, go into Houston, go into New Mexico, go into San Diego, and each one has embedded in his mind the idea of killing 10 Americans. defaulting on a sub-prime loan.”

 

 

Think of it as the “kinder and gentler” invasion.

 

 

[Mamzelle]

re: They took out the biggest home equity loan on their house they could, maxed out their credit cards with cash advances, bought a new ford F350, and a new Cadillac Escalate. They then loaded up what they were goign to take in a couple of trailers and went back to their families small ranch in Mexico. The walked with over $200k in cash.)))

Quite plausible. The banks are always looking for ways to lend to the uncreditworthy--

[RipSawyer]

The walked with over $200k in cash.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Several years ago, before the bankruptcy laws were changed, a man I trust who works for the school system here told me of a school principal and his wife who did the same thing. They took out the maximum loan on the house, bought a new Mercedes with borrowed money, maxed out all their credit cards for cash and hid the cash. He said that when they filed for bankruptcy the judge said that the house could not be taken because they had to have a place to live, the car could not be taken because they were still working and had to have transportation to work and there was nothing else to take.