If his salary ran between $5,000 and $22,000 during the years 2000 and 2001, just how much “savings” could they have had to put a down payment on a mortgage in 2004? And how were they able to get a $65,000 home equity loan on top of the mortgage? I’m 62, and have never owned a house, so I might be wrong in questioning how they were even allowed to get a mortgage based on his earnings. Maybe I should be asking Barney Frank or Chris Dodd that question. It would be interesting to see what his salary was for 2002 and 2003. There’s no mention of what his wife was doing, if she had a job or stayed home. There’s alot of questions surrounding this guy’s finances. Who paid for his schooling? American tax payers?
He put 20% down on his house. The entire thing makes no sense unless he was begin subsidized.
I wondered about this myself, since she received an accounting degree in 2004 at the University of Colorado.
Well you see that bank was a very bad bank. No job, no down no savings, no problem. It is now called Chase. Not my problem Chase.