Mario Williams House

[Ramius]

You're saying that he essentially donated money to victims of a ponzi scheme? Putting aside the fact that that's a bit nuts, this mortgage was upside down. There is no extra money for victims. The bank gets it all.

 

Read the article. As usual, you're wrong.

[Tcali]

Yeah but you'd be living in Sacramento.

 

so true.

[Mr. WEO]

Read the article. As usual, you're wrong.

 

I said no one pays more than asking unless there is a bidding war. There was.

 

I said he didn't overbid to donate money to victims. He didn't.

 

I said in an upside down mortgage mortgage, all sales go to the bank. It does.

 

The house cost 4 million to build. In order to clear 500,000 for victims, and assuming a 2 million dollar sale, that means the previous owner put 2.5 million down on a 4 million dollar house?? The author of the article didn't ask how the victims fund cleared all that money after the sale. Sounded fishy.

[Doc]

I said no one pays more than asking unless there is a bidding war. There was.

 

I said he didn't overbid to donate money to victims. He didn't.

 

I said in an upside down mortgage mortgage, all sales go to the bank. It does.

 

The house cost 4 million to build. In order to clear 500,000 for victims, and assuming a 2 million dollar sale, that means the previous owner put 2.5 million down on a 4 million dollar house?? The author of the article didn't ask how the victims fund cleared all that money after the sale. Sounded fishy.

You obviously missed this part:

The restitution effort is getting other help. First Niagara Bank, which held a junior or secondary mortgage on the property, waived its right to collect any of it, while RoundPoint Mortgage, the primary lender, agreed to a "six-digit discount" to enable some proceeds to go to victims.

[Ramius]

You obviously missed this part:

 

It's WEO. Reading comprehension was never a strong suit.

[Mr. WEO]

You obviously missed this part:

 

That's not in jw's Friday AP article linked by the other poster, which is what I was referencing.

 

Anyway, if that's the way it happened, then the bank is the one who donated the money. My original comment was to the poster who said Mario paid more than asking so that some money would go to the victims. Not true. He won the bidding war for a repo house.

[eball]

That's not in jw's Friday AP article linked by the other poster, which is what I was referencing.

 

Anyway, if that's the way it happened, then the bank is the one who donated the money. My original comment was to the poster who said Mario paid more than asking so that some money would go to the victims. Not true. He won the bidding war for a repo house.

Man, it's really a shame you just don't know when to quit. You posted a knee jerk, know-it-all response without bothering to understand the whole story. Just admit it and move on.

 

Congratulations on being "right" that nobody pays a half a million dollars extra on a house just for charity.

[Mr. WEO]

Man, it's really a shame you just don't know when to quit. You posted a knee jerk, know-it-all response without bothering to understand the whole story. Just admit it and move on.

 

Congratulations on being "right" that nobody pays a half a million dollars extra on a house just for charity.

It was a simple point. And jw's article says what it says. Mine wasn't a "knee jerk". I was saying why I disagreed with the poster's premise, which was crazy.

 

If you have anything substantial to add to the discussion, be my guest. If you're just here to scold, why don't you start a thread about which rookies are going to get which numbers or something?

[Doc]

That's not in jw's Friday AP article linked by the other poster, which is what I was referencing.

 

Anyway, if that's the way it happened, then the bank is the one who donated the money. My original comment was to the poster who said Mario paid more than asking so that some money would go to the victims. Not true. He won the bidding war for a repo house.

The link to that article was posted in this thread before jw's article was linked, in a response to one of your posts. As for the "bidding war for a repo (meaningless in this case) house," he paid $2M, and the asking price was $1,990,000. That's just a $10K difference.

[Buffalo Barbarian]

That's just a little house.

I bet Mark Anderson's is bigger.....

:lol:

[Mr. WEO]

The link to that article was posted in this thread before jw's article was linked, in a response to one of your posts. As for the "bidding war for a repo (meaningless in this case) house," he paid $2M, and the asking price was $1,990,000. That's just a $10K difference.

 

I did miss that. I was responding to the jw link.

 

It was a bidding war--likely started well below the asking price. I agree it ultimately was meaningless as the mortgage holders were going to give away a large chunk no matter what. You're right about that.

[billsfan89]

I guess if you're single. I love NYC but it's like college for adults. You're broke, live in a box, and have to have someone drive you. But $10 beer is so much better in the city. If you had a family, IMO, you'd be crazy to raise them in NYC over Buffalo. That said, there are fewer greater places than NYC if you're single.

 

I live in New Jersey right outside of NYC (Its a 15 minute bus ride or a 10 minute train ride from my house to Manhattan) and I love NYC but I agree its hard to live there. That's why I love NJ, you have pretty easy access to any part of NYC but you get a cheaper cost of living along with more room to live in.

 

I would love to move into the city for a couple of years just to see what its like to fully live there but right now I don't make enough money to do that and pay down my student loans. But NYC is no place to raise a family, that's why pretty much everyone you meet in NYC is from Jersey, suburbs of NY, or Staten Island or another borough.