Arizona Real Estate Notebook

This is hilarious! The “Anyone stupid enough to lend me money deserves to lose it” argument.

“I was shocked they were even going to do it. If I couldn’t make my payment at $800 a month, what made them think I could afford $1,300 a month?”

But it gets better.

“Who would’ve thought the market did what it did with houses”

I think there were a few people out there who thought things might slow down.

But it gets worse.

Bates is resigned that the house his father co-signed for him will soon sit vacant like so many new investment dwellings.

Great! He’s also ruining his father’s credit.

The bank hasn’t set a date for vacating the premises, so he’s planning on getting his family out “when they kick me out.”

Where the Bates clan ends up, remains to be seen.

“I’ll never live in an apartment,” Bates said. “We’ll just become trailer trash or something. We gotta do what we gotta do.”

No surprise there.

Gee, I wonder if there might have been any mis-representations on his loan application?