All Forum Posts by: Matthew Gil

Bailout plan has been rejected by the House...

http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes

I have yet to personally hear of a lender actually execute their due on sale clause.

Here it is, all 110 pages...

http://i.cdn.turner.com/cnn/2008/images/09/28/ayo08c04_xml.pdf

The bill should be called the Wall Street Greed Bail Out Act of 2008

...and they lie.

Good. I am glad the House Republicans are stalling this. We need serious debate over this issue, before we hand over 700 billion dollars of our money.

This reminds me of the Patriot Act. Legislation was rammed through Congress so fast that watchdog groups had little time to examine the bill.

Extraordinary legislation deserves extraordinary due diligence.

Also, I am still trying to wrap my head around how all of this bail-out affects, us, the real estate investor. Is credit going to become easier to attain? Is the government going to gobble up all of the REOs out there? Just don't know.

Look, I am not Bush's greatest fan, but I must admit the speech was good. It was a simple speech that allowed Joe and Jane American to finally grasp what is going on and how we got here.

Having said that, it is still debatable that that this current plan is a good one.

Looks like the good Prince is telling Wall Street to F-Themselves...

http://www.time.com/time/world/article/0,8599,1841548,00.html?xid=site-cnn-partner

I lucked out. Early on in my landlording career one of my tenants taught me a lesson. I waited to evict them in the hope that way pay up, however in the meantime they caused thousands of dollars in damage. By the time they left the property I had to re-rehab the place.

I say lucked out, because that lesson laid down the foundation for the way manage our properties. I am fair and keep the properties well-maintained, however I don't give an inch, no matter what the story. If a tenant gets behind, I will evict and evict fast. I'm like Mike, I view not paying rent as stealing. So, I do sleep at night when I have to evict them. After all, I'm not the one breaking the lease.

My crazy-*** Realtor.