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Subject:  Re: GA Deal I'm working... Date:  2/20/2006  1:05 AM
Author:  averagjoe Number:  7619 of 14302

I seem to detect a degree of antagonism directed at real estate investors in this thread. I also see an undue amount of sympathy as well as pity toward those who wedged their financial butts into a crevice by their bad decisions, and now expect to be miraculously saved.

My take:

Before buying a home (or anything else for that matter) one must assess the risks and responsibilities associated with the assumption of a long term debt. No one is ever forced into buying a home at gunpoint. It's an individual decision. Buying more home than one can realistically afford is a foolish exercise in both greed and vanity. Counting on runaway inflation to gain equity and/or enable refinancing a year or two down the line is, if anything, even more foolish. When the pipe dream fails and the day of reckoning arrives, the choices are limited. To be sure, there are people positioned to extricate you from your untenable position. Enter the shark, the deal-maker, the leech, whatever you want to call me. Sticks and stones, and all that....Since I must now assume the responsibilities you misjudged, forgive me for trying to create conditions most favorable to me. Just because you made a hasty and not fully thought out decision doesn't mean that I have to assume your problems. If I can work the numbers, and eke a small profit out of the misfortune you created for yourself, don't blame me. Blame yourself. I didn't create your problem. You dealt in pipe-dreams, I deal in realities. If I miscalculate, I lose. If I do, the only one to blame is me.

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