I wasn't aware the bank lent on potential earnings. I need to go to HIS bank!

 

Yep --- the 1st I've heard of this is when LeBron's mom bought him a H2 Hummer in high school while living in public housing.  The bank issued LeBron's mom a $50,000 car loan and assumed the risk; essentially using LeBron as collateral.

 

 http://www.nytimes.com/2003/01/14/sports...ation.html

 

Let's fast forward to real-time.  If Joey Bosa walks into Wells Fargo today requesting a home loan in the amount of $1.2 million for a house he is contemplating purchasing in San Diego (while holding out on his contract), chances are Wells Fargo gives him the loan or Bosa goes across the street and will get it from Chase.  The banks have guidelines but they can get around them if they have substantial justification that the loan will ultimately be satisfied.  Another way is for the bank to give you the loan while also contracting an insurance policy on your potential earnings.   An insurer will consider that easy $$ and charge Wells Fargo a premium for a policy that they know will never incur a claim unless Bosa suffers a career ending injury prior to signing his contract. 

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Yep --- the 1st I've heard of this is when LeBron's mom bought him a H2 Hummer in high school while living in public housing. The bank issued LeBron's mom a $50,000 car loan and assumed the risk; essentially using LeBron as collateral.

<a class="bbc_url" href='http://www.nytimes.com/2003/01/14/sports/basketball-lebron-james-s-suv-prompts-an-investigation.html'>http://www.nytimes.com/2003/01/14/sports/basketball-lebron-james-s-suv-prompts-an-investigation.html</a>


Let's fast forward to real-time. If Joey Bosa walks into Wells Fargo today requesting a home loan in the amount of $1.2 million for a house he is contemplating purchasing in San Diego (while holding out on his contract), chances are Wells Fargo gives him the loan or Bosa goes across the street and will get it from Chase. The banks have guidelines but they can get around them if they have substantial justification that the loan will ultimately be satisfied. Another way is for the bank to give you the loan while also contracting an insurance policy on your potential earnings. An insurer will consider that easy $$ and charge Wells Fargo a premium for a policy that they know will never incur a claim unless Bosa suffers a career ending injury prior to signing his contract.

Odd that the same rules would apply in the political arena. I don't forsee Bernie Sanders book having the same profitable outlook as a once in a generation high school phenom.

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In 1973, my dad bought our first home in Jacksonville for $19,500, sold it in 1989 for $92,000. That buyer renovated it to be law offices, sold in 2003 for $475,000. It's on the market now for $550,000. 6,250 square foot lot in Riverside, built in 1915, easily convertible to residential as it still has the kitchen and bathrooms. The changes in real estate values over 43 years in that part of town amazes me.

 

Yep -- timing (and sometimes patience) is everything.  

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Odd that the same rules would apply in the political arena. I don't forsee Bernie Sanders book having the same profitable outlook as a once in a generation high school phenom.

 

Obviously not even close to the same earnings potential but c'mon, Bernie could easily make $1 million in the next 2 months just on speaking engagements if that was his driving force. Bernie has become a legend in the high earnings hipster regions and market areas like the silicon valley, denver, boston, nyc, etc.).  

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Bernie Sanders has been a Senator for 9 years, was in the house for 16 before that, and from what I understand, he was basically close to being a homeless bum for the majority of his adult life.  He didn't have his first real job until he was around 40.  He's also not a lawyer, so you've really bought into a narrative about your icon that's chalked full of misinformation. 

 

Considering he reported his NET WORTH to be right at $160k when he threw his hat in the ring for the presidency, there's certainly room to question how he's able to afford a THIRD home, not in Vermont, but in Ohio. 

 

$600k is a lot for anyone who hasn't sold out, but he didn't seem to have a problem plunking down the money.  So much for being a champion for the little guy.

 

Oh, come on.   A $600,000 house is not that much for a US Senator who has a very rich future on the speaking circuit.   All he has to do is qualify for a mortgage.  

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I wasn't aware the bank lent on potential earnings. I need to go to HIS bank!

 

Of course the bank loans on potential earnings.   Were you born yesterday?  It's all about judging whether he can pay it back.   A United States senator with a future on the speaking circuit can easily qualify for a mortgage on a home like that. 

 

He puts down 10 or 20%, the bank appraises the house, he shows his income, they take a look at whether his income is going to continue in the future, and geez, this is a pretty modest house for a United States Senator. 

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A 600k house in Vermont, while it may sound like alot to us working class losers is pretty dog gone modest for a lawyer and senator for over 40 years.


C'mon man

 

it's his third house... lake front. No, not modest.

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Of course the bank loans on potential earnings.   Were you born yesterday?  It's all about judging whether he can pay it back.   A United States senator with a future on the speaking circuit can easily qualify for a mortgage on a home like that. 

 

He puts down 10 or 20%, the bank appraises the house, he shows his income, they take a look at whether his income is going to continue in the future, and geez, this is a pretty modest house for a United States Senator. 

 

No kidding. Isn't pretty much every home purchased on potential earnings.  Isn't that why they have Mortgage Loans ?  

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Feel the Bern!  Here's his new $200k Audi.  Bernie has developed expensive tastes in the past year.

 

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Feel the Bern! Here's his new $200k Audi. Bernie has developed expensive tastes in the past year.

The Bernies got burned hahahahaha.. So awesome..

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Feel the Bern!  Here's his new $200k Audi.  Bernie has developed expensive tastes in the past year.

 

 

LOLOLOLOL this cant be real!

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No kidding. Isn't pretty much every home purchased on potential earnings. Isn't that why they have Mortgage Loans ?

I assume potential and projected earnings are different. I'd say mortgages are lent on projected. If Bern qualified, good for him, lol.

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That Audi picture is gold. Pure gold.

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it's his third house... lake front. No, not modest.

C'mon.  $600k in Ohio?  It's probably a double-wide.

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Never argue with idiots. They drag you down to their level and beat you with experience.

Those poor naive reddit kids.. Conned by a socialist and they're supposed to take his word and give their support to Hillary?!?


Bwahahahaha.. Stupid is as stupid does..


So damn funny..

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C'mon.  $600k in Ohio?  It's probably a double-wide.

 

one article said 500 feet of lake front.... haha, for you math wizzes out there, that's a football field and a half.

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Feel the Bern!  Here's his new $200k Audi.  Bernie has developed expensive tastes in the past year.

 

 

Well, it is manufactured by the same company that built the bus he probably lived in down by the river until he was 40.  There's something to be said for evil capitalist brand loyalty.

 

one article said 500 feet of lake front.... haha, for you math wizzes out there, that's a football field and a half.

 

He and the Mrs. are planning to do a lot of nude sun bathing commune style. 

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Never argue with idiots. They drag you down to their level and beat you with experience.

Those poor naive reddit kids.. Conned by a socialist and they're supposed to take his word and give their support to Hillary?!?


Bwahahahaha.. Stupid is as stupid does..


So damn funny..

Most of the millennials will skip the general election.  If they were feeling the Bern and they DO decide to vote, the greenies or libertarians are going to be their first choices.  Clinton won't be on the radar of the majority who do vote.

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Never argue with idiots. They drag you down to their level and beat you with experience.

I'm sorry, I'm assuming that those of us that support Bernie are supposed to be upset about this for some reason.


But I'm not sure why.


Did Bernie take an oath of poverty or something?


Sorry, but I say good on Bernie. The dude has busted his butt for decades. As long as the money is legit and not from a super Pac, what's the problem?


You conned-servatives fell for that lie that liberals hate money and success. We don't. Were advocate for fairness and the best interests of workers.


Bernie works for middle class and workers justice. But only fools would consider a senator of the usa middle class, or a worker.


Stop being so gullible, conned-servatives!

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I'm sorry, I'm assuming that those of us that support Bernie are supposed to be upset about this for some reason.


But I'm not sure why.


Did Bernie take an oath of poverty or something?


Sorry, but I say good on Bernie. The dude has busted his butt for decades. As long as the money is legit and not from a super Pac, what's the problem?


You conned-servatives fell for that lie that liberals hate money and success. We don't. Were advocate for fairness and the best interests of workers.


Bernie works for middle class and workers justice. But only fools would consider a senator of the usa middle class, or a worker.


Stop being so gullible, conned-servatives!

So lets have it.. Out with it.. How hard were you berned? Haha

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