patrick.net

Not just the Bay Area. They made it look so damn easy on the teevee.

"Well, she has now lost ALL those properties, including the 3 in the bay area"

Not only did she "give back" ( I love that, give back) what wasn't hers to begin with, Now she gets to deal with the extremely serious ramifications of multiple counts of default, foreclosure and possible mortgage fraud, not to mention the very real possibility of civil suits from former tenants for a variety of things only limited by your imagination or plaintiffs attorney. Valid, legal recourse loans, including bona-fide first and second position mortgage loans on rental, non-owner occupied property unlike strict non-recourse notes on legitamate primary residences can in some/most cases not be 'dischargable' and will follow you and your credit score until paid, Which in this scenario at the very grand annual salary of $ 60K will be never in her lifetime. Any inheritance or windfalls will be seized immediately to pay these debts and their onerous penalties.

Nevermind the IRS if it gets wind and decides to get into the act...

Just change your name and move to San fran freako the Sanctuary City and get a city job...

Well Financial Genius internet cubicle dwelling experts see any way out for this sophisticated real estate investor? Maybe Herr Fuherer Obama can come up with a new bail-out program for late night TV real estate investors gone very, very bad like this one allegedly has.

Call it "Cash for the Clueless Clunkers".
America: Turd World Nation of Nothing and Serial Nobodies

Jeezus, not ONE, one wingnut came out to fight for the poor miserable New dumb and Broke? Man.

I almost hate it when I'm That Right. I had the gloves on, the arena filled and a great cut man in my corner. I had vapo rub on q-tips in both nostrils and blood lust for the ignorant and mentally weak and retarded, especially those 'in finance'. To win by default here is No Fun.

OK. But like a realwhore, I'll be waiting for the next too good to be true unfair fight....

Selah.

This was a year ago. This idiot killed his co-workers and part of the story was he had NINETEEN properties that he was now going to default on.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/19/BATK146S1Q.DTL

"Records show that Wu and his wife, Jie Zheng Wu, went on a property-buying spree starting in 2004."

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/15/MNUC145B4A.DTL

" 'Green Technology' is the buzzword of the day. We are already seeing investments chasing anything that is green," he wrote. "This translates to opportunities for startups."

More like translates to 'suckers and idiots'. Will never go anywhere.

I worked for a "green tech" company way back in 1976. THey came up with great
technology that went absolutely nowhere even with Carter as President. Now they are trying to re-invent the wheel and the prospects are no better this time. This has all been done before and it gets quashed everytime.

Wah! startups. I love the technologies that takes jobs away from one sector and transfers it to another.

Fun reading, and there will doubtless be many more Tales of the Incredibly Stupid and Financially Illiterate. This will all end badly, and for everyone, even those few of us intelligent ones left.

pinnacle,

What kind of green technology was that (in 1976)?

Solar powered stirling generators, stirling car engines, a solar concentrator that amplified solar
cell outputs, boron fueled generators, several types of alternative power plants for cars
including a hyraulic motor similar to Buckminster Fuller's original concept for the Dyamaxion car.
An automated deep sea mining system to extract minerals from both sea water and the ocean floor.
Nobody would back further developments beyond test models. But military and nuclear projects got lots of money. Also many big projects for middle eastern oil facilities.

pinnacle, thanks. Was this all in one company (GE?) or a number of different places?