Or you can go to vegas and put it all on red.... no black..... no wait red!!

A lot of people think about the law as this very black and white thing that outlines everything that could possibly happen, but in reality there is a large gray area in the middle.

If I lend 30k for someone to close a REO deal then I'll have their car pledged, or have a co-signor that pledges the 30k if it is defaulted.a 2nd lien position with no protection is like going to Vegas and betting on black, only on that bet you win 30k, in a 2nd lien position what do you stand to make on a 30k short term loan? 

@Joe Black Otherwise, this does seem odd. 

So why can't it be more black and white?

  ( but is not SIRIA, war zone) Nor black market kidnapping 24/7.

Agree with @Eric Black, pro forma numbers are typically inflated.

In other words, if you're a beginner skier, don't try to go down a double black diamond on your first run (instead, start off on the easier terrain so you actually have a chance of success).Good luck out there!

At least you could give is reputation a black-eye.

Disclosure:  Since John is a terrific speaker, I have had him speak at Black Diamond.