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Criminal Law

: Crime & Federalism

Concrete Example of Credit Freeze

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I was just talking to my landlord, who is a rich and older real estate guy.  He had some of properties listed.  He had numerous buyers lined up.  Ultimately, he delisted all of his properties, because banks won't loan money.  He has one building that is income producing and listed at $2 million. He had a buyer lined up. The buyer was willing to put down $750,000.  The bank wouldn't loan the buyer the rest. He is going to buy a couple of places while the market it down.  He has to put down 50% to get a loan.

Full post as published by Crime & Federalism on October 07, 2008 (boomark / email).

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