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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (91210)4/6/2001 8:08:57 PM
From: Les H  Read Replies (2) of 436258
 
There's also a substantial downside with subsidizing home ownership for people who make no or little downpayment and have substantially no savings as a safety net. They have to pay many of the costs of home ownership without the benefits of deducting costs such as association fees, maintenance, depreciation, etc. which their landlord would typically deduct. In many cases, they already pay little or no taxes and get little benefit from the mortgage interest deduction. They're better off if they can work on maintaining a reasonable savings plan as a safety net first.

I knew of a real estate brokers and investors who used to act as vulture lenders to these distressed homeowners, many on the last legs of their VA or VHDA loans.

No computer job ads in today's Washington Post. I saw a marriage proposal by someone with a green card trying to marry to stay in the country.
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