So what I learned from this thread is that this guy brought his house when prices were high. Took out home equity loans on the house called a second mortgage. If he sold the house now at the depressed real estate prices now he would owe money to the bank.
Nice house but I find it hard to believe that house went for that much in North Carolina. Houses are cheap in North and South Carolina compared to places like NJ.
Agreed, he got rolled on that house deal. However, if you're going to have a house built by a "cookie cutter" builder, then expect to get bent over. Actually, if you have a house built by a cookie cutter builder, you're a dipshit. Also agreed, $370,000 for that house in NC is way too much. I have no idea about his 2nd and 3rd mortgages though. I don't know where TA got all that shit from. If it's true though, I would assume that the loans were taken to fund his business, which isn't a bad idea. You just have to be sure your business will succeed.
Furthermore, I still have no fucking clue who this guy is, or why i'm still in this thread.
