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Rebounding town?

July 12, 2012
The Mining Journal

To the Journal editor:

K.I. Sawyer rebounding? In a sense, I suppose. A fish planting gala, community garden and a simple playground 10 years in the making.

Oh, let's not over look our president using part of my dues to promote himself and helping out the grade school by mowing the grass with our equipment. Kudos. This is what the Tea Party is about I think. Rebounding to me would be folks being able to obtain bank financing to buy.

You didn't know? Freddy Mac won't play because of the devaluation of properties. How did this happen? As near as I can gather, several ma and pa or corporations bought around 100 duplexes for full boat, tagged on some home improvement cash, rented out to folks and didn't use the rent money to pay the mortgage.

I always thought you couldn't use projected rent as income for floating a loan, what do I know? They let them go into foreclosure, maybe a bankruptcy for the LLCs, and walked away. They still have their homes, cars and other properties.

One individual has a duplex across from me, most likely in some relative's name, it's his. He rents to "good church going folks" as he put it some years back. If Stratocruiser were a neck, this place would be the boil on it. Stop by and I'll show you.

Now, I am by no means a public accountant or a financial investigator and it would take a economics professor or the attorney general to make sense of the financial shenanigans that have led to what we've got out here on the base.

I do have a rather large proboscis and it works well and it's been smelling some thing rotten in Denmark since 2004. Help, police!

William Lullo

K.I.Sawyer

 
 

 

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