So, for you that responded to last weeks article about how to use the first-time homebuyer tax credit as a down payment, for those of you who are skeptical, I ask you, what do you think about my idea?
Did you call a homebuilder? Did you call a real estate-owned platform? Did you think about the idea or did you just discount it as another thing you don't know and thus it must not be true?
Either way, I verified my data with a bank this week with $70 million of bad loans with a total of $300 million of assets. Yes, a bank that is completely broke and absolutely brimming with bad development loans. They said, sure, I would do that for my builders to get some of their loans off of our books.
Did you get that answer or did you just discount the idea?
If you don't know what I am talking about, send me your e-mail. My address is
If you asked a builder or REO platform, tell us about it.
Many of you asked me about the way to increase credit scores from under 600 to a qualifying range.
If you want to know, e-mail me at
